Howard Bailey Securities LLC Makes New $282,000 Investment in Everest Group, Ltd. (NYSE:EG)

Howard Bailey Securities LLC acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 777 shares of the company’s stock, valued at approximately $282,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in Everest Group by 61.5% in the fourth quarter. Van ECK Associates Corp now owns 680 shares of the company’s stock valued at $246,000 after purchasing an additional 259 shares during the period. Lester Murray Antman dba SimplyRich increased its stake in shares of Everest Group by 2.7% in the fourth quarter. Lester Murray Antman dba SimplyRich now owns 1,328 shares of the company’s stock worth $481,000 after buying an additional 35 shares during the last quarter. Avidian Wealth Enterprises LLC raised its holdings in Everest Group by 3.3% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 2,401 shares of the company’s stock valued at $870,000 after acquiring an additional 76 shares in the last quarter. Hartford Investment Management Co. lifted its position in shares of Everest Group by 1.5% during the fourth quarter. Hartford Investment Management Co. now owns 3,543 shares of the company’s stock worth $1,284,000 after purchasing an additional 54 shares during the last quarter. Finally, Equitable Trust Co. raised its position in shares of Everest Group by 97.7% during the 4th quarter. Equitable Trust Co. now owns 16,997 shares of the company’s stock valued at $6,161,000 after acquiring an additional 8,398 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EG. Jefferies Financial Group downgraded shares of Everest Group from a “buy” rating to a “hold” rating and boosted their price objective for the company from $420.00 to $429.00 in a research report on Tuesday, November 26th. Morgan Stanley reiterated an “equal weight” rating and issued a $340.00 price objective (down from $425.00) on shares of Everest Group in a research report on Wednesday, February 5th. Wells Fargo & Company dropped their price target on shares of Everest Group from $390.00 to $380.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. TD Cowen lowered their target price on Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Finally, BMO Capital Markets downgraded shares of Everest Group from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $453.00 to $375.00 in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Everest Group presently has an average rating of “Hold” and an average target price of $416.50.

Everest Group Stock Performance

Shares of NYSE EG opened at $331.96 on Thursday. The stock’s fifty day simple moving average is $357.57 and its 200 day simple moving average is $372.49. The stock has a market capitalization of $14.27 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.22 and a beta of 0.65. Everest Group, Ltd. has a 52-week low of $327.37 and a 52-week high of $407.30. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26.

Everest Group (NYSE:EG) last issued 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 net margin of 7.95% and a return on equity of 9.04%. As a group, sell-side analysts forecast that Everest Group, Ltd. will post 53.11 earnings per share for the current fiscal year.

Everest Group Company Profile

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.