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

Hi Line Capital Management LLC acquired a new stake in Everest Group, Ltd. (NYSE:EG) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 10,352 shares of the company’s stock, valued at approximately $3,752,000. Everest Group comprises about 1.6% of Hi Line Capital Management LLC’s holdings, making the stock its 23rd largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EG. Eastern Bank acquired a new position in shares of Everest Group during the 3rd quarter worth $35,000. Brooklyn Investment Group purchased a new stake in Everest Group in the 3rd quarter valued at about $39,000. Private Trust Co. NA grew its holdings in Everest Group by 51.7% in the 3rd quarter. Private Trust Co. NA now owns 132 shares of the company’s stock valued at $52,000 after buying an additional 45 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Everest Group in the 3rd quarter valued at about $64,000. Finally, Avior Wealth Management LLC grew its holdings in Everest Group by 22.4% in the 4th quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock valued at $93,000 after buying an additional 47 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Everest Group Stock Performance

EG stock opened at $337.40 on Monday. 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 $14.50 billion, a P/E ratio of 10.74, a P/E/G ratio of 0.24 and a beta of 0.65. Everest Group, Ltd. has a 12-month low of $327.37 and a 12-month high of $407.30. The stock’s 50 day simple moving average is $353.32 and its 200 day simple moving average is $370.73.

Everest Group (NYSE:EG) last posted its quarterly earnings results 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, equities research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

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.