Everest Group, Ltd. (NYSE:EG) director Geraldine Losquadro has sold 1,000 shares of company stock in an open market transaction dated May 9, 2024. The shares were sold at an average price of $380.49, netting a total of $380,490.
This recent transaction has adjusted Losquadro's direct holdings in the company to 12,843 shares. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is publicly available for investors to review.
Everest Group, Ltd., known for its operations in the fire, marine, and casualty insurance sector, has seen its shares trade actively on the market. This sale by a member of the company's board may attract attention from investors who closely monitor insider activities as an indicator of corporate confidence.
Investors and analysts often look at insider sales and purchases to gain insights into a company's financial health and future prospects. While the motives behind individual transactions can vary, they can sometimes provide a glimpse into an insider's view of the company's valuation.
As of now, the reasons for Losquadro's sale have not been publicly disclosed, and it remains one of the many transactions that occur in the regular course of market activity. Shareholders and potential investors in Everest Group, Ltd. may consider this development alongside other market data when assessing their investment decisions.
InvestingPro Insights
In light of the recent insider sale at Everest Group, Ltd., current and prospective investors may find additional context by considering key metrics and insights provided by InvestingPro. With a market capitalization of $16.63 billion and a price-to-earnings (P/E) ratio of 5.72, Everest Group is trading at a low earnings multiple, which suggests that its shares could be undervalued relative to its earnings. This is a point of interest for value-oriented investors.
Additionally, the company's revenue has shown impressive growth, with a 21.36% increase over the last twelve months leading up to Q1 2024. The gross profit margin during the same period stands at 17.63%, which indicates that Everest Group is able to retain a significant portion of its sales as gross profit.
One of the InvestingPro Tips for Everest Group highlights that the company is a prominent player in the Insurance industry, which may give it a competitive edge in its sector. Another tip points out that Everest Group has maintained dividend payments for 30 consecutive years, demonstrating a commitment to returning value to shareholders. This consistent dividend history is often seen as a sign of a company's financial stability and management's confidence in its future cash flows.
For investors seeking further insights and tips, InvestingPro offers additional analysis on Everest Group, which can be accessed with a special offer. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 7 more InvestingPro Tips available for Everest Group, providing a deeper dive into the company's financials and market position.
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