Everest Group, Ltd. (NYSE:EG) Short Interest Update

Everest Group, Ltd. (NYSE:EG - Get Free Report) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totalling 980,600 shares, a drop of 6.6% from the September 30th total of 1,050,000 shares. Approximately 3.0% of the company's stock are sold short. Based on an average trading volume of 376,300 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners lifted its holdings in shares of Everest Group by 29.1% during the 1st quarter. Boston Partners now owns 1,197,457 shares of the company's stock valued at $475,750,000 after purchasing an additional 269,665 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Everest Group by 1.8% during the second quarter. AQR Capital Management LLC now owns 1,032,479 shares of the company's stock worth $393,395,000 after acquiring an additional 17,885 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in shares of Everest Group by 5.3% during the first quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company's stock worth $360,175,000 after acquiring an additional 45,705 shares during the period. William Blair Investment Management LLC lifted its position in Everest Group by 30.2% in the 2nd quarter. William Blair Investment Management LLC now owns 580,171 shares of the company's stock valued at $221,057,000 after acquiring an additional 134,517 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Everest Group by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 535,121 shares of the company's stock worth $203,891,000 after purchasing an additional 38,254 shares during the period. Institutional investors own 92.64% of the company's stock.

Everest Group Price Performance

Shares of Everest Group stock traded down $22.71 during trading on Thursday, reaching $357.29. The company's stock had a trading volume of 670,999 shares, compared to its average volume of 343,432. The stock has a 50-day moving average price of $387.38 and a two-hundred day moving average price of $380.81. The stock has a market capitalization of $15.38 billion, a P/E ratio of 5.34, a price-to-earnings-growth ratio of 2.67 and a beta of 0.61. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.24. Everest Group has a one year low of $343.76 and a one year high of $417.92.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $16.97 by ($0.12). The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The firm's quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company posted $15.21 EPS. As a group, sell-side analysts anticipate that Everest Group will post 60.97 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were paid a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.24%. The ex-dividend date was Monday, September 16th. Everest Group's payout ratio is 11.81%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. BMO Capital Markets reiterated a "market perform" rating and set a $403.00 price target on shares of Everest Group in a report on Friday, August 30th. Morgan Stanley decreased their price target on shares of Everest Group from $450.00 to $445.00 and set an "overweight" rating for the company in a report on Wednesday, July 10th. UBS Group upgraded Everest Group to a "hold" rating in a research note on Wednesday, October 9th. Wells Fargo & Company increased their target price on Everest Group from $393.00 to $406.00 and gave the company an "equal weight" rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group upped their price target on Everest Group from $440.00 to $457.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Everest Group has a consensus rating of "Moderate Buy" and an average target price of $438.36.

About Everest Group

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.