Dynasty Wealth Management LLC Buys New Stake in Everest Group, Ltd. (NYSE:EG)

Dynasty Wealth Management LLC bought a new stake in Everest Group, Ltd. (NYSE:EG) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 564 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds have also recently modified their holdings of EG. Sunbelt Securities Inc. purchased a new position in Everest Group during the 4th quarter valued at about $29,000. Tsfg LLC acquired a new position in shares of Everest Group in the 1st quarter valued at about $33,000. Optiver Holding B.V. bought a new position in shares of Everest Group during the fourth quarter worth about $51,000. Bruce G. Allen Investments LLC grew its position in Everest Group by 79.1% in the 1st quarter. Bruce G. Allen Investments LLC now owns 154 shares of the company’s stock valued at $56,000 after buying an additional 68 shares in the last quarter. Finally, Park Square Financial Group LLC purchased a new position in shares of Everest Group in the fourth quarter worth approximately $104,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Everest Group

In related news, CEO James Allan Williamson bought 1,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were bought at an average cost of $337.97 per share, for a total transaction of $337,970.00. Following the completion of the transaction, the chief executive officer owned 25,618 shares of the company’s stock, valued at $8,658,115.46. This represents a 4.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EG. Keefe, Bruyette & Woods lifted their price target on shares of Everest Group from $402.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Wells Fargo & Company set a $362.00 target price on Everest Group and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Janney Montgomery Scott assumed coverage on Everest Group in a research report on Friday, June 20th. They set a “buy” rating and a $425.00 price objective on the stock. UBS Group cut their price target on Everest Group from $372.00 to $370.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 9th. Finally, Evercore ISI lowered their target price on Everest Group from $400.00 to $396.00 and set an “in-line” rating for the company in a report on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $400.83.

Everest Group Stock Up 0.6%

Shares of NYSE:EG opened at $333.87 on Friday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.25. The stock has a market cap of $14.20 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 0.26 and a beta of 0.51. The business’s 50 day moving average is $340.19 and its 200 day moving average is $348.11. Everest Group, Ltd. has a 52-week low of $320.00 and a 52-week high of $407.30.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.46 by ($1.01). Everest Group had a return on equity of 5.95% and a net margin of 4.88%. The firm had revenue of $4.26 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same quarter in the previous year, the firm posted $16.32 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Sell-side analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Wednesday, May 28th were paid a dividend of $2.00 per share. The ex-dividend date was Wednesday, May 28th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.40%. Everest Group’s payout ratio is currently 41.15%.

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.