By otakuyassine3@gmail.com 
Principal Financial Group Inc. reduced its holdings in shares of Everest Group, Ltd. (NYSE:EG – Free Report) by 5.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 51,102 shares of the company’s stock after selling 2,790 shares during the period. Principal Financial Group Inc.’s holdings in Everest Group were worth $18,522,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its holdings in shares of Everest Group by 152.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 22,693 shares of the company’s stock valued at $8,225,000 after buying an additional 13,687 shares during the period. JPMorgan Chase & Co. grew its position in Everest Group by 19.5% in the third quarter. JPMorgan Chase & Co. now owns 78,469 shares of the company’s stock valued at $30,747,000 after acquiring an additional 12,791 shares in the last quarter. Brophy Wealth Management LLC purchased a new stake in shares of Everest Group during the third quarter valued at approximately $749,000. Intech Investment Management LLC lifted its position in shares of Everest Group by 13.1% during the third quarter. Intech Investment Management LLC now owns 27,324 shares of the company’s stock worth $10,706,000 after purchasing an additional 3,166 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in shares of Everest Group by 17.0% in the third quarter. Mutual of America Capital Management LLC now owns 19,962 shares of the company’s stock valued at $7,822,000 after purchasing an additional 2,900 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.
Everest Group Price Performance
Shares of EG opened at $340.50 on Tuesday. Everest Group, Ltd. has a 52 week low of $327.37 and a 52 week high of $407.30. 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 firm has a market cap of $14.63 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 0.24 and a beta of 0.65. The stock has a 50 day moving average of $352.98 and a 200-day moving average of $370.56.
Everest Group (NYSE:EG – Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) EPS 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%. As a group, analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.
Wall Street Analyst Weigh In
EG has been the topic of several analyst reports. TD Cowen dropped their price target on shares of Everest Group from $444.00 to $419.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Morgan Stanley reiterated an “equal weight” rating and issued a $340.00 price target (down previously from $425.00) on shares of Everest Group in a research note on Wednesday, February 5th. BMO Capital Markets downgraded Everest Group from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Keefe, Bruyette & Woods lifted their price objective on Everest Group from $420.00 to $434.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, Barclays increased their target price on Everest Group from $461.00 to $470.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $416.50.
Get Our Latest Stock Analysis on EG
Everest Group 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.
Further Reading
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