Heron Bay Capital Management Makes New $492,000 Investment in Everest Group, Ltd. (NYSE:EG)

Heron Bay Capital Management acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,291 shares of the company’s stock, valued at approximately $492,000.

Several other institutional investors and hedge funds have also modified their holdings of EG. Vanguard Group Inc. bought a new stake in Everest Group during the 4th quarter worth about $1,886,055,000. Wellington Management Group LLP bought a new stake in shares of Everest Group during the fourth quarter valued at approximately $751,457,000. Boston Partners increased its holdings in shares of Everest Group by 29.1% in the first quarter. Boston Partners now owns 1,197,457 shares of the company’s stock valued at $475,750,000 after purchasing an additional 269,665 shares in the last quarter. Champlain Investment Partners LLC raised its position in Everest Group by 5.3% in the 1st quarter. Champlain Investment Partners LLC now owns 906,100 shares of the company’s stock worth $360,175,000 after purchasing an additional 45,705 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in Everest Group by 30.2% during the 2nd quarter. William Blair Investment Management LLC now owns 580,171 shares of the company’s stock worth $221,057,000 after buying an additional 134,517 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Price Performance

EG opened at $387.50 on Friday. The stock has a market cap of $16.77 billion, a P/E ratio of 5.76, a P/E/G ratio of 2.71 and a beta of 0.62. Everest Group, Ltd. has a 12 month low of $343.76 and a 12 month high of $417.92. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $381.70 and a 200 day simple moving average of $379.98.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $16.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $16.97 by ($0.12). Everest Group had a return on equity of 24.09% and a net margin of 18.36%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter last year, the company earned $15.21 earnings per share. The firm’s revenue was up 15.8% compared to the same quarter last year. On average, research analysts expect that Everest Group, Ltd. will post 61.66 EPS for the current year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, September 16th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Monday, September 16th. Everest Group’s payout ratio is currently 11.89%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. TD Cowen cut their price target on Everest Group from $419.00 to $405.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Keefe, Bruyette & Woods cut their target price on shares of Everest Group from $454.00 to $438.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets reiterated a “market perform” rating and set a $403.00 price target on shares of Everest Group in a research report on Friday, August 30th. Barclays began coverage on shares of Everest Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $527.00 price objective on the stock. Finally, Bank of America increased their price target on Everest Group from $470.00 to $493.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Everest Group has a consensus rating of “Moderate Buy” and an average price target of $438.09.

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.