Everest Group, Ltd. (NYSE:EG) Sees Significant Increase in Short Interest

Everest Group, Ltd. (NYSE:EG - Get Free Report) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 611,600 shares, a growth of 5.6% from the December 15th total of 579,200 shares. Based on an average trading volume of 420,400 shares, the short-interest ratio is currently 1.5 days. Currently, 1.9% of the company's shares are sold short.

Everest Group Stock Performance

Shares of EG traded up $2.36 during trading hours on Monday, reaching $362.60. 370,655 shares of the company traded hands, compared to its average volume of 277,588. The stock has a market capitalization of $15.58 billion, a P/E ratio of 5.67, a P/E/G ratio of 2.33 and a beta of 0.65. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average price of $367.78 and a 200-day moving average price of $376.39. Everest Group has a 12-month low of $343.76 and a 12-month high of $407.30.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Wednesday, November 27th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Wednesday, November 27th. Everest Group's dividend payout ratio is presently 12.52%.

Insider Activity

In other Everest Group news, COO James Allan Williamson sold 200 shares of the firm's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total transaction of $74,000.00. Following the transaction, the chief operating officer now owns 15,009 shares of the company's stock, valued at approximately $5,553,330. This trade represents a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William F. Galtney, Jr. purchased 2,870 shares of the stock in a transaction dated Monday, November 4th. The stock was acquired at an average cost of $348.64 per share, with a total value of $1,000,596.80. Following the transaction, the director now directly owns 32,822 shares in the company, valued at approximately $11,443,062.08. This trade represents a 9.58 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Everest Group

Institutional investors and hedge funds have recently modified their holdings of the company. Wedmont Private Capital lifted its position in Everest Group by 4.8% during the third quarter. Wedmont Private Capital now owns 638 shares of the company's stock valued at $238,000 after purchasing an additional 29 shares during the period. Dakota Wealth Management raised its stake in shares of Everest Group by 1.7% during the 4th quarter. Dakota Wealth Management now owns 1,945 shares of the company's stock valued at $705,000 after buying an additional 32 shares during the last quarter. Steph & Co. lifted its holdings in shares of Everest Group by 10.6% in the 4th quarter. Steph & Co. now owns 366 shares of the company's stock valued at $133,000 after buying an additional 35 shares during the period. IFM Investors Pty Ltd boosted its stake in shares of Everest Group by 0.3% in the third quarter. IFM Investors Pty Ltd now owns 11,208 shares of the company's stock worth $4,392,000 after buying an additional 38 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Everest Group by 9.0% during the third quarter. Covestor Ltd now owns 520 shares of the company's stock worth $204,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 92.64% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on EG. Wells Fargo & Company reduced their price objective on shares of Everest Group from $390.00 to $380.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 14th. Bank of America decreased their price objective on Everest Group from $496.00 to $485.00 and set a "buy" rating for the company in a research note on Thursday, October 10th. Barclays cut their target price on Everest Group from $517.00 to $499.00 and set an "overweight" rating on the stock in a research note on Monday, January 6th. Jefferies Financial Group downgraded shares of Everest Group from a "buy" rating to a "hold" rating and boosted their target price for the stock from $420.00 to $429.00 in a report on Tuesday, November 26th. Finally, UBS Group upgraded shares of Everest Group to a "hold" rating in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Everest Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $435.44.

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.