Manning & Napier Advisors LLC Makes New $616,000 Investment in Everest Group, Ltd. $EG

Manning & Napier Advisors LLC purchased a new position in Everest Group, Ltd. (NYSE:EG) in the second quarter, HoldingsChannel reports. The firm purchased 1,708 shares of the company’s stock, valued at approximately $616,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new stake in Everest Group during the second quarter worth approximately $1,150,555,000. Norges Bank bought a new position in Everest Group during the 4th quarter valued at $630,277,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Everest Group during the 2nd quarter valued at $350,718,000. AQR Capital Management LLC increased its position in shares of Everest Group by 70.3% during the 3rd quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock valued at $695,275,000 after purchasing an additional 830,418 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased 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 purchasing an additional 515,063 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Everest Group Price Performance

Shares of NYSE:EG opened at $376.01 on Wednesday. The company’s fifty day moving average is $367.85 and its two-hundred day moving average is $347.54. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $401.07. The company has a market cap of $14.42 billion, a P/E ratio of 7.95, a price-to-earnings-growth ratio of 0.74 and a beta of 0.29.

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

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors 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 yield of 2.1%. Everest Group’s payout ratio is presently 16.92%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. TD Cowen upped their price objective on Everest Group from $365.00 to $385.00 and gave the company a “hold” rating in a report on Wednesday, August 19th. Mizuho dropped their price target on shares of Everest Group from $418.00 to $416.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Atlantic Securities set a $484.00 price target on shares of Everest Group in a report on Wednesday, July 15th. Barclays raised their target price on shares of Everest Group from $420.00 to $430.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Finally, Evercore set a $377.00 price target 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $395.27.

About Everest Group

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.