Everest Group, Ltd. to Issue Quarterly Dividend of $2.00 (NYSE:EG)

Key Points

• Everest Group declared a quarterly dividend of $2.00 per share, payable September 25 to shareholders of record on September 9. The dividend is equivalent to $8.00 annually and carries a 2.2% yield.
• The dividend appears well covered, with a current payout ratio of 13.1% and an expected future payout ratio of 13.5%, based on projected earnings of $59.47 per share.
• Everest Group recently beat quarterly EPS estimates, reporting $14.85 versus the expected $14.52, although revenue fell 11.8% year over year to $3.96 billion. Institutional investors own 92.64% of the company.

Everest Group, Ltd. (NYSE:EG - Get Free Report) declared a quarterly dividend on Wednesday, August 12th. Shareholders of record on Wednesday, September 9th will be paid a dividend of 2.00 per share on Friday, September 25th. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 9th.

Everest Group has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 1 years. Everest Group has a dividend payout ratio of 13.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Everest Group to earn $59.47 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 13.5%.

Everest Group Price Performance

Everest Group stock opened at $363.15 on Thursday. The business's fifty day moving average is $361.46 and its two-hundred day moving average is $344.93. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35. The firm has a market cap of $13.92 billion, a P/E ratio of 7.68, a P/E/G ratio of 0.72 and a beta of 0.29. Everest Group has a 52 week low of $302.44 and a 52 week high of $401.07.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly 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 business had revenue of $3.96 billion during the quarter, compared to analysts' expectations of $3.99 billion. Everest Group had a return on equity of 13.63% and a net margin of 11.41%.The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $16.10 earnings per share. Equities research analysts forecast that Everest Group will post 53.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Everest Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Everest Group during the second quarter worth about $1,150,555,000. Norges Bank acquired a new position in shares of Everest Group in the 4th quarter valued at approximately $630,277,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Everest Group in the 2nd quarter valued at approximately $350,718,000. AQR Capital Management LLC increased its stake in Everest Group by 70.3% during the 3rd quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company's stock worth $695,275,000 after purchasing an additional 830,418 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in 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 worth $176,205,000 after purchasing an additional 515,063 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Everest Group Company 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.

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