Everest Group (NYSE:EG) Shares Gap Down – Should You Sell?

Everest Group, Ltd. (NYSE:EG) shares gapped down before the market opened on Tuesday . The stock had previously closed at $353.02, but opened at $344.91. Everest Group shares last traded at $353.48, with a volume of 30,845 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on EG shares. Keefe, Bruyette & Woods decreased their price objective on shares of Everest Group from $434.00 to $402.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Barclays lowered their price objective on shares of Everest Group from $470.00 to $394.00 and set an “overweight” rating on the stock in a research report on Friday. Morgan Stanley restated an “equal weight” rating and set a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $453.00 to $375.00 in a research report on Thursday, January 30th. Finally, Wells Fargo & Company cut their target price on Everest Group from $370.00 to $362.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $396.00.

Everest Group Stock Down 0.0 %

The company has a market capitalization of $16.86 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 0.24 and a beta of 0.43. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.26. The stock’s fifty day moving average is $349.08 and its 200 day moving average is $363.00.

Everest Group (NYSE:EG) last posted its earnings results on Monday, February 3rd. The company reported ($18.39) earnings per share for the quarter, missing analysts’ consensus estimates of $11.64 by ($30.03). Everest Group had a return on equity of 9.04% and a net margin of 7.95%. Research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 17th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.27%. The ex-dividend date was Monday, March 17th. Everest Group’s dividend payout ratio (DPR) is currently 25.47%.

Insiders Place Their Bets

In other Everest Group news, Director Geraldine Losquadro sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $360.63, for a total transaction of $540,945.00. Following the transaction, the director now owns 12,279 shares in the company, valued at approximately $4,428,175.77. This represents a 10.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Everest Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dakota Wealth Management grew its position in shares of Everest Group by 1.7% in the 4th quarter. Dakota Wealth Management now owns 1,945 shares of the company’s stock worth $705,000 after buying an additional 32 shares during the period. Wilmington Savings Fund Society FSB increased its stake in shares of Everest Group by 19.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 195 shares of the company’s stock valued at $71,000 after purchasing an additional 32 shares in the last quarter. Steph & Co. lifted its holdings in shares of Everest Group by 10.6% during the fourth quarter. Steph & Co. now owns 366 shares of the company’s stock valued at $133,000 after purchasing an additional 35 shares during the last quarter. Lester Murray Antman dba SimplyRich boosted its position in shares of Everest Group by 2.7% in the 4th quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company’s stock worth $481,000 after purchasing an additional 35 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its stake in shares of Everest Group by 0.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 5,315 shares of the company’s stock worth $1,913,000 after buying an additional 36 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

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.