11,691 Shares in Everest Group, Ltd. $EG Bought by Summit Global Investments

Summit Global Investments acquired a new position in Everest Group, Ltd. (NYSE:EG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,691 shares of the company’s stock, valued at approximately $4,176,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Everest Group during the 4th quarter worth $630,277,000. AQR Capital Management LLC boosted its holdings in Everest Group by 70.3% during the third quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock worth $695,275,000 after buying an additional 830,418 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Everest Group by 12,322.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company’s stock worth $176,205,000 after buying an additional 515,063 shares during the period. Hsbc Holdings PLC increased its holdings in Everest Group by 507.4% in the first quarter. Hsbc Holdings PLC now owns 449,919 shares of the company’s stock valued at $147,102,000 after buying an additional 375,846 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of Everest Group by 181.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 498,697 shares of the company’s stock valued at $169,233,000 after acquiring an additional 321,376 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EG. Weiss Ratings upgraded Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Barclays lifted their price objective on Everest Group from $420.00 to $430.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Wells Fargo & Company upped their target price on Everest Group from $373.00 to $396.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Citigroup raised their price target on Everest Group from $395.00 to $415.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, Cantor Fitzgerald lifted their price target on Everest Group from $344.00 to $390.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Four investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $393.93.

Everest Group Trading Up 1.1%

Shares of EG stock opened at $369.91 on Friday. The company has a market capitalization of $14.18 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 0.72 and a beta of 0.29. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $363.11 and a 200 day moving average price of $345.40. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $401.07.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, July 29th. The company reported $14.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.52 by $0.33. The company had revenue of $3.96 billion for 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 revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the company earned $16.10 EPS. Research analysts forecast that Everest Group, Ltd. will post 53.13 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $8.00 annualized dividend and a dividend yield of 2.2%. Everest Group’s dividend payout ratio is presently 16.92%.

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.