Everest Group, Ltd. (NYSE:EG) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its stake in shares of Everest Group, Ltd. (NYSE:EG) by 163.9% in the first quarter, Holdings Channel.com reports. The fund owned 4,772 shares of the company’s stock after purchasing an additional 2,964 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Everest Group were worth $1,897,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Elevated Capital Advisors LLC acquired a new stake in shares of Everest Group during the 1st quarter valued at approximately $679,000. Dynamic Advisor Solutions LLC purchased a new position in shares of Everest Group during the 1st quarter worth approximately $1,814,000. Gilman Hill Asset Management LLC purchased a new position in shares of Everest Group during the 1st quarter worth approximately $2,600,000. Whitaker Myers Wealth Managers LTD. purchased a new position in shares of Everest Group during the 1st quarter worth approximately $211,000. Finally, Traynor Capital Management Inc. increased its stake in shares of Everest Group by 37.9% during the 1st quarter. Traynor Capital Management Inc. now owns 1,817 shares of the company’s stock worth $722,000 after purchasing an additional 499 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Everest Group Stock Down 1.3 %

EG stock opened at $364.77 on Friday. The stock has a market capitalization of $15.85 billion, a P/E ratio of 5.42, a PEG ratio of 3.24 and a beta of 0.63. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.38 and a current ratio of 0.38. Everest Group, Ltd. has a one year low of $333.65 and a one year high of $417.92. The company has a 50 day moving average price of $379.87 and a two-hundred day moving average price of $374.88.

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

Everest Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Wednesday, May 29th were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Wednesday, May 29th. This is a boost from Everest Group’s previous quarterly dividend of $1.75. This represents a $8.00 annualized dividend and a dividend yield of 2.19%. Everest Group’s payout ratio is currently 11.89%.

About Everest Group

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.