Skandinaviska Enskilda Banken AB publ Raises Position in Everest Group, Ltd. $EG

Skandinaviska Enskilda Banken AB publ grew its position in Everest Group, Ltd. (NYSE:EG) by 142.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,187 shares of the company’s stock after acquiring an additional 69,346 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Everest Group were worth $41,393,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. M&G PLC lifted its holdings in Everest Group by 89.5% in the 3rd quarter. M&G PLC now owns 38,055 shares of the company’s stock valued at $13,319,000 after purchasing an additional 17,968 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in shares of Everest Group by 170.1% during the third quarter. Pallas Capital Advisors LLC now owns 5,877 shares of the company’s stock worth $2,058,000 after buying an additional 3,701 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Everest Group by 14.1% in the third quarter. PNC Financial Services Group Inc. now owns 6,544 shares of the company’s stock valued at $2,292,000 after buying an additional 810 shares during the last quarter. GenTrust LLC purchased a new position in shares of Everest Group in the third quarter worth about $292,000. Finally, Aberdeen Group plc boosted its position in Everest Group by 12.0% during the third quarter. Aberdeen Group plc now owns 34,979 shares of the company’s stock worth $12,085,000 after acquiring an additional 3,737 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on EG. Wells Fargo & Company cut their price objective on shares of Everest Group from $332.00 to $310.00 and set an “equal weight” rating for the company in a report on Friday, February 6th. Evercore set a $365.00 price target on Everest Group in a report on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on Everest Group from $400.00 to $430.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 6th. Zacks Research upgraded Everest Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Wall Street Zen downgraded Everest Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $363.21.

Everest Group Price Performance

EG stock opened at $337.44 on Tuesday. Everest Group, Ltd. has a 52-week low of $302.44 and a 52-week high of $370.20. The company has a quick ratio of 0.39, a current ratio of 0.37 and a debt-to-equity ratio of 0.23. The stock has a market cap of $14.17 billion, a price-to-earnings ratio of 8.91, a price-to-earnings-growth ratio of 0.25 and a beta of 0.36. The business has a fifty day moving average of $329.65 and a two-hundred day moving average of $332.45.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, February 4th. The company reported $13.26 earnings per share for the quarter, missing analysts’ consensus estimates of $13.36 by ($0.10). The business had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $3.97 billion. Everest Group had a return on equity of 12.50% and a net margin of 9.09%.The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($18.39) earnings per share. As a group, research analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

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.