Ingalls & Snyder LLC Cuts Position in Everest Group, Ltd. (NYSE:EG)

Ingalls & Snyder LLC decreased its stake in Everest Group, Ltd. (NYSE:EG) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,374 shares of the company’s stock after selling 290 shares during the period. Ingalls & Snyder LLC’s holdings in Everest Group were worth $1,585,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Eastern Bank purchased a new position in shares of Everest Group in the third quarter valued at $35,000. Brooklyn Investment Group purchased a new position in Everest Group during the 3rd quarter valued at about $39,000. Private Trust Co. NA raised its position in Everest Group by 51.7% during the third quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after acquiring an additional 45 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Everest Group in the third quarter valued at about $64,000. Finally, Avior Wealth Management LLC grew its position in shares of Everest Group by 22.4% in the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock valued at $93,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on Everest Group from $390.00 to $380.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group downgraded Everest Group from a “buy” rating to a “hold” rating and upped their price objective for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. TD Cowen cut their target price on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Keefe, Bruyette & Woods raised their price target on shares of Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $416.50.

Everest Group Price Performance

EG opened at $335.77 on Friday. Everest Group, Ltd. has a 1 year low of $327.37 and a 1 year high of $407.30. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. The company’s 50 day simple moving average is $356.79 and its 200 day simple moving average is $372.23. The stock has a market capitalization of $14.43 billion, a PE ratio of 10.69, a P/E/G ratio of 0.22 and a beta of 0.65.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share (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%. As a group, sell-side analysts expect that Everest Group, Ltd. will post 53.11 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.