Hi Line Capital Management LLC Takes $3.75 Million Position in Everest Group, Ltd. (NYSE:EG)

Hi Line Capital Management LLC bought a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, HoldingsChannel.com reports. The firm bought 10,352 shares of the company’s stock, valued at approximately $3,752,000. Everest Group accounts for about 1.6% of Hi Line Capital Management LLC’s portfolio, making the stock its 23rd biggest holding.

Several other hedge funds have also modified their holdings of EG. Blue Trust Inc. lifted its stake in Everest Group by 179.0% in the 3rd quarter. Blue Trust Inc. now owns 452 shares of the company’s stock worth $172,000 after acquiring an additional 290 shares in the last quarter. Raymond James & Associates raised its stake in shares of Everest Group by 29.6% during the 3rd quarter. Raymond James & Associates now owns 31,966 shares of the company’s stock worth $12,525,000 after purchasing an additional 7,306 shares in the last quarter. Foundations Investment Advisors LLC purchased a new stake in shares of Everest Group during the 3rd quarter worth about $245,000. Signaturefd LLC increased its holdings in shares of Everest Group by 51.4% during the 3rd quarter. Signaturefd LLC now owns 536 shares of the company’s stock valued at $210,000 after acquiring an additional 182 shares during the last quarter. Finally, Eastern Bank acquired a new position in shares of Everest Group during the 3rd quarter valued at about $35,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EG has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their target price on Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Keefe, Bruyette & Woods lifted their price objective on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Morgan Stanley reissued an “equal weight” rating and issued a $340.00 target price (down from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. Finally, Barclays lifted their price objective on Everest Group from $461.00 to $470.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $416.50.

Everest Group Price Performance

Everest Group stock opened at $337.40 on Monday. Everest Group, Ltd. has a 12 month low of $327.37 and a 12 month high of $407.30. The stock’s 50 day moving average is $353.32 and its 200-day moving average is $370.73. 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 company has a market capitalization of $14.50 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 0.24 and a beta of 0.65.

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

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.