Everest Group, Ltd. $EG Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC raised its stake in Everest Group, Ltd. (NYSE:EG) by 245.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 162,100 shares of the company’s stock after buying an additional 115,120 shares during the quarter. Renaissance Technologies LLC’s holdings in Everest Group were worth $52,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EG. Activest Wealth Management purchased a new position in shares of Everest Group during the 4th quarter worth $34,000. Raiffeisen Bank International AG purchased a new stake in shares of Everest Group in the fourth quarter valued at about $34,000. Cullen Frost Bankers Inc. acquired a new stake in Everest Group during the fourth quarter worth about $37,000. CYBER HORNET ETFs LLC acquired a new stake in Everest Group during the second quarter worth about $39,000. Finally, MUFG Securities EMEA plc purchased a new position in Everest Group during the second quarter worth about $43,000. 92.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Jason Keen sold 775 shares of Everest Group stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $351.84, for a total value of $272,676.00. Following the completion of the transaction, the chief executive officer owned 8,170 shares in the company, valued at $2,874,532.80. The trade was a 8.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on EG shares. Bank of America increased their price target on shares of Everest Group from $430.00 to $454.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Mizuho lifted their price target on shares of Everest Group from $388.00 to $418.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Barclays upped their price objective on Everest Group from $380.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Keefe, Bruyette & Woods raised their target price on Everest Group from $411.00 to $414.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings upgraded Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, Everest Group has an average rating of “Hold” and an average target price of $387.73.

Everest Group Stock Performance

Shares of Everest Group stock opened at $385.50 on Monday. The business has a 50-day moving average of $352.67 and a 200 day moving average of $340.29. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $386.87. The stock has a market capitalization of $15.25 billion, a price-to-earnings ratio of 7.84, a price-to-earnings-growth ratio of 0.60 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.37 and a quick ratio of 0.37.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, March 23rd. The company reported $16.08 EPS for the quarter. The company had revenue of $4.07 billion during the quarter. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. As a group, sell-side analysts forecast that Everest Group, Ltd. will post 52.86 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, June 12th. Everest Group’s dividend payout ratio is presently 16.27%.

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.