Nuance Investments LLC Raises Stake in Everest Group, Ltd. $EG

Nuance Investments LLC increased its stake in shares of Everest Group, Ltd. (NYSE:EG) by 59.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,493 shares of the company’s stock after buying an additional 12,457 shares during the quarter. Everest Group makes up about 1.2% of Nuance Investments LLC’s portfolio, making the stock its 24th largest position. Nuance Investments LLC’s holdings in Everest Group were worth $11,730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new stake in shares of Everest Group during the 3rd quarter worth approximately $30,000. Board of the Pension Protection Fund bought a new position in Everest Group during the second quarter valued at $34,000. UMB Bank n.a. increased its position in Everest Group by 81.4% in the third quarter. UMB Bank n.a. now owns 107 shares of the company’s stock worth $37,000 after buying an additional 48 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Everest Group in the second quarter valued at $39,000. Finally, MUFG Securities EMEA plc purchased a new position in shares of Everest Group during the 2nd quarter valued at $43,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EG has been the topic of a number of research reports. TD Cowen lowered their price objective on Everest Group from $400.00 to $365.00 and set a “hold” rating on the stock in a research note on Monday, December 15th. Wells Fargo & Company lowered their price target on shares of Everest Group from $332.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Friday. UBS Group reaffirmed a “buy” rating and issued a $345.00 price objective on shares of Everest Group in a report on Monday, January 12th. Cantor Fitzgerald lowered their target price on shares of Everest Group from $348.00 to $344.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. Finally, Wall Street Zen lowered Everest Group from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $363.07.

Everest Group Stock Performance

NYSE EG opened at $328.72 on Monday. Everest Group, Ltd. has a 1 year low of $302.44 and a 1 year high of $370.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.37 and a quick ratio of 0.39. The stock has a market capitalization of $13.80 billion, a PE ratio of 8.68, a P/E/G ratio of 0.24 and a beta of 0.36. The company’s 50 day simple moving average is $327.12 and its two-hundred day simple moving average is $332.49.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, February 4th. The company reported $13.26 EPS for the quarter, missing analysts’ consensus estimates of $13.36 by ($0.10). Everest Group had a net margin of 9.09% and a return on equity of 12.50%. The firm had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter last year, the firm earned ($18.39) earnings per share. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. Analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

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.