Everest Group, Ltd. $EG Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its position in shares of Everest Group, Ltd. (NYSE:EG) by 22.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 33,296 shares of the company’s stock after selling 9,457 shares during the quarter. Royal Bank of Canada’s holdings in Everest Group were worth $10,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. M&T Bank Corp lifted its position in shares of Everest Group by 4,077.5% in the 4th quarter. M&T Bank Corp now owns 79,205 shares of the company’s stock worth $26,878,000 after buying an additional 77,309 shares during the last quarter. Algebris UK Ltd. acquired a new position in shares of Everest Group in the 4th quarter valued at about $23,460,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Everest Group by 12,322.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company’s stock valued at $176,205,000 after buying an additional 515,063 shares during the last quarter. National Pension Service grew its position in shares of Everest Group by 13.2% during the 4th quarter. National Pension Service now owns 44,113 shares of the company’s stock valued at $14,970,000 after buying an additional 5,157 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC raised its stake in Everest Group by 898.0% during the first quarter. Elevation Point Wealth Partners LLC now owns 9,022 shares of the company’s stock worth $2,949,000 after acquiring an additional 8,118 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Stock Up 1.0%

Everest Group stock opened at $374.14 on Friday. Everest Group, Ltd. has a 52 week low of $302.44 and a 52 week high of $401.07. The stock has a market cap of $14.34 billion, a price-to-earnings ratio of 7.91, a PEG ratio of 0.74 and a beta of 0.29. The company’s 50-day moving average price is $358.79 and its two-hundred day moving average price is $343.81. The company has a current ratio of 0.35, a quick ratio of 0.37 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last posted 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. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter last year, the business earned $16.10 earnings per share. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, analysts expect that Everest Group, Ltd. will post 53.13 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $2.00 per share. The ex-dividend date was Friday, June 12th. This represents a $8.00 annualized dividend and a dividend yield of 2.1%. Everest Group’s dividend payout ratio (DPR) is 16.92%.

Analysts Set New Price Targets

A number of brokerages have issued reports on EG. Keefe, Bruyette & Woods raised their target price on shares of Everest Group from $411.00 to $414.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Atlantic Securities set a $484.00 price target on Everest Group in a research report on Wednesday, July 15th. Bank of America raised their price target on Everest Group from $430.00 to $454.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Weiss Ratings upgraded Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Finally, Evercore set a $377.00 price objective on Everest Group in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, Everest Group currently has a consensus rating of “Hold” and a consensus target price of $393.93.

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.