Everest Group Ltd (NYSE:EG), a global insurance and reinsurance company, has reported an insider purchase by EVP, Pres/CEO Insurance Div Mike Karmilowicz. According to a recent SEC filing, the insider bought 285 shares of the company on February 9, 2024.
Everest Group Ltd provides property and casualty insurance and reinsurance solutions. The company operates through various segments, including insurance and reinsurance, offering products that range from property, casualty, and specialty coverage, including but not limited to, workers' compensation, accident and health, and crop risk services.
Insider buying and selling activities are closely monitored by investors as they can provide insights into a company's internal perspective. An insider purchase can indicate confidence in the company's future prospects or undervaluation, while insider sales might suggest the opposite.
Mike Karmilowicz’s recent transaction adds to the cumulative trades over the past year, where the insider has purchased a total of 285 shares and has not sold any shares.
The insider transaction history for Everest Group Ltd shows a pattern of insider confidence, with 4 insider buys and no insider sells over the past year.
On the valuation front, Everest Group Ltd's shares were trading at $352.39 on the day of the insider's purchase, resulting in a market cap of $15.66 billion. The price-earnings ratio stands at 6.04, which is below both the industry median of 11.63 and the company's historical median price-earnings ratio, suggesting a potential undervaluation compared to its peers and its own trading history.
The stock's price-to-GF-Value ratio is 0.96, with a GF Value of $368.27, indicating that Everest Group Ltd is Fairly Valued according to GuruFocus's intrinsic value estimate.
The GF Value is determined by considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.
Investors often look to insider transactions as a piece of the puzzle when analyzing a company's financial health and prospects. The recent insider buying activity at Everest Group Ltd may provide an additional data point for those evaluating the company's stock.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
