Short Interest in Everest Group, Ltd. (NYSE:EG) Rises By 5.6%

Everest Group, Ltd. (NYSE:EG) was the recipient of a large growth in short interest during the month of 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. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily volume of 420,400 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EG. Jefferies Financial Group cut Everest Group from a “buy” rating to a “hold” rating and increased their target price for the company from $420.00 to $429.00 in a report on Tuesday, November 26th. Keefe, Bruyette & Woods increased their target price on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a report on Friday, January 10th. TD Cowen dropped their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a report on Monday, November 18th. UBS Group upgraded Everest Group to a “hold” rating in a report on Wednesday, October 9th. Finally, Barclays dropped their price objective on Everest Group from $517.00 to $499.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Everest Group currently has a consensus rating of “Moderate Buy” and an average target price of $435.44.

Everest Group Stock Up 0.7 %

Shares of NYSE:EG traded up $2.36 during trading on Monday, hitting $362.60. The stock had a trading volume of 370,655 shares, compared to its average volume of 277,588. Everest Group has a 12 month low of $343.76 and a 12 month high of $407.30. The company has a market capitalization of $15.58 billion, a PE ratio of 5.67, a PEG ratio of 2.33 and a beta of 0.65. The firm’s fifty day moving average is $367.92 and its 200 day moving average is $376.40. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.22.

Everest Group Dividend Announcement

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

Insider Activity

In other news, EVP Mike Karmilowicz sold 269 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $348.48, for a total transaction of $93,741.12. Following the transaction, the executive vice president now directly owns 12,726 shares in the company, valued at approximately $4,434,756.48. This represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James Allan Williamson sold 200 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $370.00, for a total value of $74,000.00. Following the transaction, the chief operating officer now owns 15,009 shares in the company, valued at $5,553,330. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Wedmont Private Capital raised its position in shares of Everest Group by 4.8% in the 3rd quarter. Wedmont Private Capital now owns 638 shares of the company’s stock worth $238,000 after acquiring an additional 29 shares in the last quarter. Dakota Wealth Management increased its position in 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 in the last quarter. Steph & Co. increased its position in Everest Group by 10.6% during the 4th quarter. Steph & Co. now owns 366 shares of the company’s stock valued at $133,000 after buying an additional 35 shares in the last quarter. IFM Investors Pty Ltd increased its position in Everest Group by 0.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 11,208 shares of the company’s stock valued at $4,392,000 after buying an additional 38 shares in the last quarter. Finally, Covestor Ltd increased its position in Everest Group by 9.0% during the 3rd quarter. Covestor Ltd now owns 520 shares of the company’s stock valued at $204,000 after buying an additional 43 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

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.