Everest Group, Ltd. (NYSE:EG) Stock Position Raised by Traynor Capital Management Inc.

Traynor Capital Management Inc. lifted its holdings in Everest Group, Ltd. (NYSE:EG) by 37.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,817 shares of the company’s stock after acquiring an additional 499 shares during the quarter. Traynor Capital Management Inc.’s holdings in Everest Group were worth $722,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Gulf International Bank UK Ltd acquired a new stake in shares of Everest Group in the first quarter worth $1,409,000. Buckingham Capital Management Inc. boosted its position in shares of Everest Group by 4.1% in the first quarter. Buckingham Capital Management Inc. now owns 27,925 shares of the company’s stock worth $11,100,000 after buying an additional 1,096 shares during the period. Park Avenue Securities LLC acquired a new stake in Everest Group during the first quarter valued at $1,733,000. Wedmont Private Capital purchased a new position in Everest Group in the first quarter valued at about $228,000. Finally, Polianta Ltd purchased a new position in Everest Group in the first quarter valued at about $1,152,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Price Performance

Shares of NYSE:EG opened at $382.01 on Tuesday. Everest Group, Ltd. has a fifty-two week low of $331.08 and a fifty-two week high of $417.92. The business has a 50-day moving average of $378.33 and a two-hundred day moving average of $375.08. The stock has a market capitalization of $16.60 billion, a P/E ratio of 5.68, a P/E/G ratio of 3.31 and a beta of 0.62. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.38 and a quick ratio of 0.38.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, topping analysts’ consensus estimates of $15.98 by $0.34. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The company had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the previous year, the firm earned $11.31 earnings per share. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, equities research analysts predict that Everest Group, Ltd. will post 61.65 EPS for the current fiscal year.

Everest Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Wednesday, May 29th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Wednesday, May 29th. This is a boost from Everest Group’s previous quarterly dividend of $1.75. Everest Group’s payout ratio is currently 11.89%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on Everest Group from $445.00 to $457.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Morgan Stanley lowered their target price on Everest Group from $466.00 to $450.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Finally, Wells Fargo & Company lowered their target price on Everest Group from $402.00 to $397.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $432.11.

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.