Bright Futures Wealth Management LLC. Cuts Stock Holdings in Everest Group, Ltd. (NYSE:EG)

Bright Futures Wealth Management LLC. decreased its stake in shares of Everest Group, Ltd. (NYSE:EG) by 33.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,478 shares of the company’s stock after selling 2,288 shares during the period. Everest Group makes up about 1.4% of Bright Futures Wealth Management LLC.’s portfolio, making the stock its 22nd largest position. Bright Futures Wealth Management LLC.’s holdings in Everest Group were worth $1,574,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Eastern Bank purchased a new position in Everest Group in the third quarter worth $35,000. Brooklyn Investment Group purchased a new position in Everest Group in the third quarter worth $39,000. Private Trust Co. NA boosted its position in Everest Group by 51.7% in the third quarter. Private Trust Co. NA now owns 132 shares of the company’s stock worth $52,000 after purchasing an additional 45 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Everest Group in the third quarter worth $64,000. Finally, Avior Wealth Management LLC boosted its position in Everest Group by 22.4% in the fourth quarter. Avior Wealth Management LLC now owns 257 shares of the company’s stock worth $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.

Everest Group Stock Performance

NYSE:EG opened at $335.77 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.40 and a current ratio of 0.40. Everest Group, Ltd. has a 52-week low of $327.37 and a 52-week high of $407.30. The firm has a market cap of $14.43 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 0.22 and a beta of 0.65. The business’s fifty day moving average is $356.79 and its 200 day moving average is $372.23.

Everest Group (NYSE:EG) last released its quarterly earnings data on Monday, February 3rd. The company reported ($18.39) earnings per share (EPS) 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%. Research analysts predict that Everest Group, Ltd. will post 53.11 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on EG. 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. Barclays boosted 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. 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 note on Monday, November 18th. Keefe, Bruyette & Woods boosted their target price on Everest Group from $420.00 to $434.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, BMO Capital Markets lowered Everest Group from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $453.00 to $375.00 in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $416.50.

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.