Everest Group, LtdNYSE: EG
Financials · Reinsurance
$336.14
-0.41%
Vol: 295K
Research Digest
Friday, June 19, 2026
Everest Group climbs after streamlining portfolio toward core reinsurance via AIG and Wawanesa asset sales, with Bank of America raising price target to $472 and Q1 EPS of $16.08 significantly beating estimates.
Everest Group (EG) stock rose approximately 4.67% in early June on continued positive sentiment from portfolio streamlining moves and strong Q1 results. The company reported Q1 2026 adjusted EPS of $16.08, significantly beating estimates, with net income of $653 million as incurred losses dropped sharply to $2.22 billion from $2.89 billion year-over-year. Everest sold its Colombia retail unit to AIG and agreed to sell its Canadian Commercial Retail Insurance operations to Wawanesa for C$410 million, pivoting toward core reinsurance and specialty lines. Bank of America raised its price target to $472 from $470 on June 11, while UBS raised its target to $374 from $370 with a Neutral rating. The company also declared a dividend of $2.00 per share payable on or before June 26, 2026.
Previous Market Intelligence
13 daysJun 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21Everest Group announced on May 19, 2026 a binding agreement to sell its Colombian insurance subsidiary to AIG as part of its strategic refocus on core Global Reinsurance and Specialty Insurance segments.Positive▶
Everest Group (EG) finalized a definitive agreement on May 19, 2026 for AIG to acquire Everest Compania de Seguros Generales Colombia. The divestiture aligns with Everest's restructuring plan to concentrate on its core Global Reinsurance and Specialty Insurance operations under new CEO Jim Williamson. The Colombian sale follows recent leadership changes, including Elias Habayeb taking over as CFO effective May 1 and Lisa Davis being named Head of North America Wholesale & Specialty. Financial terms of the AIG transaction were not disclosed. The move further streamlines Everest's international footprint after a strong Q1 2026 in which net income rose to $653 million despite a 4.6% revenue decline. Analyst consensus 12-month price target stands at approximately $372.60.
May 20Everest Group sells Colombian insurance operations to AIG and adds specialty insurance executive Lisa Davis to leadership.Positive▶
On May 19, 2026, Everest Group finalized a binding agreement to sell Everest Compania de Seguros Generales Colombia S.A. to AIG as part of its strategic shift toward Global Reinsurance and Specialty Insurance core segments. On May 15, the company appointed Lisa Davis as Head of North America, Wholesale & Specialty, bringing 35+ years of specialty insurance experience. Everest also held its annual meeting May 13 in Bermuda, with shareholders electing 11 directors and approving the 2020 Stock Incentive Plan amendment adding 812,000 shares. The company recently reported Q1 2026 adjusted EPS of $16.08 and $653 million net income amid restructuring and aggressive share buybacks. EVP Jason Keen sold 775 shares at $351.84 on May 7.
May 19Everest Group held May 13 annual meeting electing 11 directors and adding 812K shares to incentive plan as Habayeb takes over as CFOPositive▶
Everest Group held its annual shareholder meeting in Bermuda on May 13, 2026, with proposals including election of 11 directors, KPMG reappointment as auditor, and approval of 812,000 additional shares for the 2020 Stock Incentive Plan. Elias Habayeb assumed the role of EVP and Group CFO on or around May 1, succeeding retiring CFO Mark Kociancic who stays on as Special Advisor. Q1 2026 adjusted EPS of $16.08 beat estimates by 15% on revenue of $4.07B (-4.6% YoY), with a 91.2% combined ratio and $33M favorable reserve development. The buyback floor was raised to $300M quarterly with share count down 6.3% YoY. Analyst consensus is Buy (6 buys, 0 sells) with the stock around $354.58 at a 7.14 P/E and 2.3% yield.
May 18Norges Bank discloses 5.19% passive stake in Everest Group as company holds annual meeting in Bermuda with proposed stock plan amendment and new CFO transition completePositive▶
Norges Bank filed a Schedule 13G disclosing a 5.19% stake in Everest Group around mid-May 2026. The company held its annual shareholder meeting in Bermuda on May 13, 2026, where shareholders voted on 11 director nominees, ratification of KPMG as auditor, executive pay advisory, and an amendment to the 2020 Stock Incentive Plan adding 812,000 shares. Elias Habayeb officially assumed the CFO role effective on or about May 1, 2026, succeeding Mark Kociancic. EG continues its self-help strategy with a $300M quarterly buyback floor and 6.3% YoY share count reduction. The stock traded at $350.78 as of May 11, with one analyst maintaining a Buy rating and ~$390 PT (~12% upside).
May 15Everest Group held annual meeting in Bermuda May 13 with 11 director slate; Q1 adjusted EPS of $16.08 beat by 15% as buyback floor lifted to $300M quarterly.Positive▶
Everest Group held its annual shareholder meeting in Bermuda on May 13, 2026, with proposals including electing 11 directors, appointing KPMG as auditor, and approving non-binding advisory vote on 2025 executive compensation. Q1 2026 adjusted EPS of $16.08 beat expectations by 15% despite a 4.6% revenue decline to $4.07 billion (net premiums and property catastrophe pricing softened). Net income rose to $653 million ($16.21 basic EPS). The company is leaning into specialty lines and exiting commercial retail insurance, with the buyback floor increased to $300 million quarterly and share count down 6.3% YoY. EVP Jason Keen sold 775 shares on May 7 at $351.84. Elias Habayeb became EVP and Group CFO effective ~May 1.
May 14Everest Group held Annual General Meeting May 13 as Citigroup raises price target to $395 on strong Q1 underwriting discipline.Positive▶
Everest Group held its Annual General Meeting on May 13, 2026, following a May 12 price target increase by Citigroup from $342 to $395. The catalyst is Q1 2026 results showing adjusted EPS of $16.08 (beating estimates by 15%) and a 91.2% combined ratio with $33M in favorable reserve development, signaling improved underwriting discipline. Revenue of $4.07B was down 4.6% YoY but reflects deliberate portfolio repositioning toward profitability. The company raised its buyback floor to $300M quarterly, with share count down 6.3% YoY. Leadership transitions include Elias Habayeb as new EVP/Group CFO (effective May 1) and Lisa Davis as Head of North America Wholesale & Specialty. Insider Jason Keen sold 775 shares May 7 at $351.84.
May 13Everest Group EVP Jason Keen sells 775 shares at $351.84 ahead of May 13 annual meeting; Q1 combined ratio of 91.2% beats expectationsPositive▶
Everest Group EVP Jason Keen sold 775 common shares on May 7, 2026 at $351.84 per share in an open-market transaction, leaving him with 8,170 shares. The company's annual meeting takes place in Bermuda on May 13, where shareholders will vote on 11 directors, KPMG as auditor, and an amendment to the 2020 Stock Incentive Plan adding 812,000 shares. Q1 2026 results showed adjusted EPS of $16.08 beating expectations by 15%, with a strong combined ratio of 91.2% despite a 4.6% revenue decline to $4.07B. Lisa Davis was appointed Head of North America Wholesale & Specialty, and Elias Habayeb was named EVP and CFO effective May 1, succeeding the retiring Mark Kociancic. Multiple analysts lifted price targets following the operating performance.
May 12Everest Group holds its May 13 annual shareholder meeting in Bermuda, with new CFO Elias Habayeb now in place following Mark Kociancic's May 1 retirement.Neutral▶
Everest Group's annual meeting on May 13, 2026 will vote on 11 director elections, KPMG reappointment, and 2025 executive compensation. The meeting follows the May 1 CFO transition, with Elias Habayeb (ex-Corebridge, AIG) replacing Mark Kociancic, who is staying on as Special Advisor. Q1 results posted earlier showed adjusted EPS of $16.08 on $4.07B revenue and a sale agreement for Canadian Commercial Retail Insurance Ops to Wawanesa Mutual is pending H2 close. Bear case: revenue declined ~4.6% YoY and reinsurance pricing softness could pressure future margins.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| EGEVEREST | $336.14 | -0.41% | +2.9% | 6.1x | 0.29 | $14.7B |
| BRK.BBERKSHIRE | $488.32 | -0.60% | +2.4% | 23.6x | 0.61 | $1.10T |
| JPMJPMORGAN | $324.88 | -2.57% | +1.5% | 14.1x | 0.98 | $896.2B |
| VVISA | $327.85 | -0.77% | +6.0% | 24.4x | 0.75 | $688.7B |
| MAMASTERCARD | $491.10 | -0.38% | +5.8% | 23.7x | 0.73 | $476.6B |
| BACBANK | $56.20 | -0.58% | +1.5% | 11.5x | 1.18 | $416.8B |
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Price between 50d and 200d. Testing 50d support.