Davis Selected Advisers Purchases 78,589 Shares of Everest Group, Ltd. $EG

Davis Selected Advisers increased its position in Everest Group, Ltd. (NYSE:EG) by 199.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 118,017 shares of the company’s stock after buying an additional 78,589 shares during the period. Davis Selected Advisers’ holdings in Everest Group were worth $40,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC raised its holdings in Everest Group by 2.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 1,682 shares of the company’s stock worth $571,000 after acquiring an additional 34 shares during the period. Wealthfront Advisers LLC raised its holdings in Everest Group by 2.8% in the 3rd quarter. Wealthfront Advisers LLC now owns 1,466 shares of the company’s stock worth $513,000 after acquiring an additional 40 shares during the period. GenTrust LLC raised its holdings in Everest Group by 4.8% in the 4th quarter. GenTrust LLC now owns 874 shares of the company’s stock worth $297,000 after acquiring an additional 40 shares during the period. BayBridge Capital Group LLC raised its holdings in Everest Group by 4.4% in the 4th quarter. BayBridge Capital Group LLC now owns 1,017 shares of the company’s stock worth $345,000 after acquiring an additional 43 shares during the period. Finally, D.A. Davidson & CO. raised its holdings in Everest Group by 1.3% in the 4th quarter. D.A. Davidson & CO. now owns 3,451 shares of the company’s stock worth $1,171,000 after acquiring an additional 44 shares during the period. Institutional investors own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on EG. Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a report on Thursday, January 22nd. Mizuho boosted their price objective on shares of Everest Group from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. UBS Group restated a “buy” rating and set a $345.00 price objective on shares of Everest Group in a report on Monday, January 12th. Wells Fargo & Company boosted their price objective on shares of Everest Group from $304.00 to $332.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Finally, Bank of America boosted their price objective on shares of Everest Group from $430.00 to $454.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $366.14.

Everest Group Stock Performance

NYSE EG opened at $353.54 on Friday. The stock has a market cap of $17.59 billion, a P/E ratio of 7.19, a PEG ratio of 0.27 and a beta of 0.35. The company’s 50-day simple moving average is $333.26 and its 200 day simple moving average is $329.77. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $368.29. The company has a quick ratio of 0.39, a current ratio of 0.35 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last posted its earnings results on Wednesday, April 29th. The company reported $16.08 earnings per share for the quarter, beating analysts’ consensus estimates of $13.97 by $2.11. The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $4.17 billion. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.45 earnings per share. As a group, research analysts forecast that Everest Group, Ltd. will post 52.99 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. Everest Group’s payout ratio is presently 21.13%.

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.