Traynor Capital Management Inc. Has $722,000 Holdings in Everest Group, Ltd. (NYSE:EG)

Traynor Capital Management Inc. boosted its stake in Everest Group, Ltd. (NYSE:EG) by 37.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,817 shares of the company’s stock after purchasing an additional 499 shares during the period. Traynor Capital Management Inc.’s holdings in Everest Group were worth $722,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. bought a new position in shares of Everest Group in the fourth quarter valued at approximately $1,886,055,000. Wellington Management Group LLP purchased a new position in Everest Group during the fourth quarter worth about $751,457,000. Franklin Resources Inc. purchased a new position in Everest Group during the fourth quarter worth about $373,130,000. Boston Partners bought a new stake in Everest Group during the fourth quarter worth about $328,064,000. Finally, Norges Bank bought a new stake in Everest Group during the fourth quarter worth about $202,271,000. 92.64% of the stock is owned by institutional investors.

Everest Group Trading Up 1.3 %

Shares of NYSE EG opened at $382.01 on Tuesday. The business’s 50 day moving average is $378.33 and its two-hundred day moving average is $375.08. 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, Ltd. has a 1-year low of $331.08 and a 1-year high of $417.92. The stock has a market capitalization of $16.60 billion, a P/E ratio of 5.68, a PEG ratio of 3.31 and a beta of 0.62.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Monday, April 29th. The company reported $16.32 earnings per share for the quarter, topping the consensus estimate of $15.98 by $0.34. The company had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Everest Group had a return on equity of 24.86% and a net margin of 18.69%. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the previous year, the firm posted $11.31 earnings per share. As a group, research analysts expect that Everest Group, Ltd. will post 61.65 EPS for the current year.

Everest Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Wednesday, May 29th were issued a dividend of $2.00 per share. This is an increase from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 annualized dividend and a yield of 2.09%. The ex-dividend date was Wednesday, May 29th. Everest Group’s dividend payout ratio (DPR) is presently 11.89%.

Analysts Set New Price Targets

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

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.