Traynor Capital Management Inc. Makes New Investment in Everest Group, Ltd. (NYSE:EG)

Traynor Capital Management Inc. acquired a new position in Everest Group, Ltd. (NYSE:EG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,318 shares of the company’s stock, valued at approximately $466,000.

Several other hedge funds and other institutional investors have also bought and sold shares of EG. Assenagon Asset Management S.A. purchased a new position in shares of Everest Group during the 4th quarter valued at $1,866,000. Uncommon Cents Investing LLC purchased a new position in shares of Everest Group during the 4th quarter valued at $1,016,000. Finally, Red Door Wealth Management LLC purchased a new position in shares of Everest Group during the 4th quarter valued at $237,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Analyst Ratings Changes

EG has been the topic of a number of recent research reports. TD Cowen initiated coverage on Everest Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $421.00 price target on the stock. Keefe, Bruyette & Woods dropped their price target 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. Wells Fargo & Company cut Everest Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $484.00 to $402.00 in a report on Friday, February 9th. Evercore ISI assumed coverage on Everest Group in a report on Thursday, December 14th. They set an “inline” rating and a $431.00 price objective on the stock. Finally, Citigroup cut Everest Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $452.00 to $375.00 in a report on Monday, February 12th. Three 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $434.67.

Insider Activity

In other news, CEO Mike Karmilowicz acquired 285 shares of Everest Group stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $352.39 per share, for a total transaction of $100,431.15. Following the transaction, the chief executive officer now owns 10,586 shares of the company’s stock, valued at $3,730,400.54. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Mark Kociancic acquired 1,000 shares of Everest Group stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $349.00 per share, for a total transaction of $349,000.00. Following the transaction, the chief financial officer now owns 25,733 shares of the company’s stock, valued at $8,980,817. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mike Karmilowicz bought 285 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were bought at an average price of $352.39 per share, with a total value of $100,431.15. Following the completion of the acquisition, the chief executive officer now directly owns 10,586 shares in the company, valued at $3,730,400.54. The disclosure for this purchase can be found here. In the last three months, insiders have bought 2,485 shares of company stock worth $874,786. 1.40% of the stock is currently owned by insiders.

Everest Group Price Performance

NYSE EG traded up $1.71 during trading on Friday, reaching $397.50. The company’s stock had a trading volume of 240,127 shares, compared to its average volume of 370,095. The stock has a market capitalization of $17.24 billion, a PE ratio of 6.65, a P/E/G ratio of 3.73 and a beta of 0.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a fifty day moving average of $376.32 and a 200 day moving average of $381.06. Everest Group, Ltd. has a one year low of $331.08 and a one year high of $417.92.

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

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Tuesday, March 19th were paid a $1.75 dividend. The ex-dividend date 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 is currently 11.72%.

Everest Group Company 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.