Traynor Capital Management Inc. Invests $466,000 in Everest Group, Ltd. (NYSE:EG)

Traynor Capital Management Inc. acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 4th quarter, Holdings Channel reports. The fund acquired 1,318 shares of the company’s stock, valued at approximately $466,000.

Several other hedge funds have also made changes to their positions in EG. Red Door Wealth Management LLC acquired a new position in Everest Group in the fourth quarter valued at $237,000. Uncommon Cents Investing LLC acquired a new position in Everest Group in the fourth quarter valued at $1,016,000. Finally, Assenagon Asset Management S.A. acquired a new position in Everest Group in the fourth quarter valued at $1,866,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Up 0.4 %

NYSE:EG traded up $1.71 during mid-day trading on Friday, reaching $397.50. The stock had a trading volume of 240,127 shares, compared to its average volume of 370,095. The company has a market capitalization of $17.24 billion, a price-to-earnings ratio of 6.65, a price-to-earnings-growth ratio of 3.73 and a beta of 0.55. Everest Group, Ltd. has a 1-year low of $331.08 and a 1-year high of $417.92. The stock’s 50 day simple moving average is $376.32 and its two-hundred day simple moving average is $381.06. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $25.18 EPS for the quarter, topping analysts’ consensus estimates of $14.63 by $10.55. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.85 billion. Everest Group had a return on equity of 25.05% and a net margin of 17.26%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm earned $12.21 earnings per share. Equities analysts anticipate that Everest Group, Ltd. will post 62.04 EPS for the current year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Tuesday, March 19th were paid a $1.75 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $7.00 dividend on an annualized basis and a yield of 1.76%. Everest Group’s dividend payout ratio (DPR) is 11.72%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup lowered Everest Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $452.00 to $375.00 in a research report on Monday, February 12th. Wells Fargo & Company lowered Everest Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $484.00 to $402.00 in a research report on Friday, February 9th. Evercore ISI started coverage on Everest Group in a research report on Thursday, December 14th. They set an “inline” rating and a $431.00 target price on the stock. TD Cowen started coverage on Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 target price on the stock. Finally, Keefe, Bruyette & Woods dropped their target price on Everest Group from $465.00 to $445.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $434.67.

Insider Buying and Selling at Everest Group

In related news, CFO Mark Kociancic bought 1,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the purchase, the chief financial officer now directly owns 25,733 shares in the company, valued at approximately $8,980,817. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Mark Kociancic bought 1,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $349.00 per share, for a total transaction of $349,000.00. Following the completion of the purchase, the chief financial officer now directly owns 25,733 shares in the company, valued at approximately $8,980,817. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roger M. Singer bought 500 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was bought at an average price of $357.21 per share, with a total value of $178,605.00. Following the completion of the purchase, the director now owns 16,920 shares of the company’s stock, valued at $6,043,993.20. The disclosure for this purchase can be found here. Insiders purchased a total of 2,485 shares of company stock worth $874,786 over the last ninety days. Company insiders own 1.40% of the company’s stock.

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.