25,536 Shares in Everest Group, Ltd. $EG Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 25,536 shares of the company’s stock, valued at approximately $9,122,000.

Several other hedge funds also recently modified their holdings of EG. Geneos Wealth Management Inc. grew its position in shares of Everest Group by 98.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock worth $66,000 after buying an additional 90 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Everest Group during the second quarter worth approximately $384,000. Marshall Wace LLP acquired a new position in Everest Group in the second quarter valued at approximately $238,000. Jump Financial LLC bought a new position in Everest Group in the second quarter valued at approximately $1,510,000. Finally, Federated Hermes Inc. boosted its stake in Everest Group by 3.7% in the second quarter. Federated Hermes Inc. now owns 14,411 shares of the company’s stock valued at $4,898,000 after acquiring an additional 510 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.

Everest Group Trading Up 0.2%

EG opened at $378.25 on Friday. The firm’s fifty day moving average is $370.37 and its two-hundred day moving average is $348.47. The firm has a market cap of $14.50 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 0.74 and a beta of 0.29. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $401.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, July 29th. The company reported $14.85 EPS for the quarter, beating analysts’ consensus estimates of $14.52 by $0.33. The business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $16.10 EPS. Equities research analysts anticipate that Everest Group, Ltd. will post 53.28 EPS for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.1%. Everest Group’s dividend payout ratio (DPR) is currently 16.92%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. BMO Capital Markets lifted their target price on shares of Everest Group from $366.00 to $376.00 and gave the stock a “market perform” rating in a report on Thursday, May 14th. Wells Fargo & Company raised their price target on Everest Group from $373.00 to $396.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Citigroup lifted their price objective on Everest Group from $395.00 to $415.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Cantor Fitzgerald upped their price objective on Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Evercore set a $377.00 target price on Everest Group in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Everest Group currently has an average rating of “Hold” and a consensus price target of $395.27.

Everest Group Profile

Everest Group (NYSE:EG) is a global research and consulting firm specializing in strategic advisory, market intelligence, and data-driven analysis for business process, information technology, and emerging technology services. The company provides insights and benchmarks that help enterprises and service providers optimize digital transformation initiatives, sourcing strategies, and operational performance. Through its proprietary research frameworks and data analytics, Everest Group delivers actionable guidance on areas such as automation, cloud migration, customer experience, and supply chain resilience.

With offerings that span advisory engagements, managed services research, and consulting projects, Everest Group serves multiple industry verticals, including banking and financial services, healthcare, manufacturing, telecommunications, and retail.