Algert Global LLC Boosts Position in Everest Group, Ltd. $EG

Key Points

• Algert Global increased its Everest Group stake by 1,208.4% in the second quarter, ending with 13,607 shares valued at approximately $4.86 million. Institutional investors collectively own 92.64% of the company.
• Everest Group reported quarterly earnings of $14.85 per share, exceeding estimates of $14.52, while revenue fell 11.8% year over year to $3.96 billion.
• The company declared a quarterly dividend of $2.00 per share, equivalent to an annualized $8.00 dividend and a 2.1% yield. Analysts maintain a consensus “Hold” rating with a $395.27 price target.

Algert Global LLC grew its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 1,208.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,607 shares of the company's stock after buying an additional 12,567 shares during the period. Algert Global LLC's holdings in Everest Group were worth $4,861,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Everest Group during the second quarter valued at $1,150,555,000. AQR Capital Management LLC increased its stake in Everest Group by 70.3% in the 3rd quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company's stock worth $695,275,000 after acquiring an additional 830,418 shares during the last quarter. State Street Corp increased its stake in Everest Group by 0.4% in the 4th quarter. State Street Corp now owns 1,906,692 shares of the company's stock worth $647,036,000 after acquiring an additional 7,806 shares during the last quarter. Norges Bank purchased a new stake in shares of Everest Group in the 4th quarter valued at about $630,277,000. Finally, Vulcan Value Partners LLC raised its holdings in shares of Everest Group by 6.5% in the 4th quarter. Vulcan Value Partners LLC now owns 1,509,740 shares of the company's stock valued at $512,288,000 after acquiring an additional 92,274 shares in the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Price Performance

Shares of NYSE:EG opened at $377.33 on Friday. The stock has a market cap of $14.47 billion, a PE ratio of 7.98, a PEG ratio of 0.74 and a beta of 0.29. The company's fifty day moving average is $369.53 and its 200 day moving average is $348.26. Everest Group, Ltd. has a 52 week low of $302.44 and a 52 week high of $401.07. 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 (NYSE:EG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $14.85 earnings per share for the quarter, topping the consensus estimate of $14.52 by $0.33. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the firm posted $16.10 earnings per share. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. Research analysts anticipate that Everest Group, Ltd. will post 53.28 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently declared 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. This represents a $8.00 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, September 9th. Everest Group's dividend payout ratio (DPR) is presently 16.92%.

Analyst Ratings Changes

EG has been the topic of several research analyst reports. Cantor Fitzgerald upped their price objective on shares of Everest Group from $344.00 to $390.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Evercore set a $377.00 target price on shares of Everest Group in a research report on Thursday, July 30th. Morgan Stanley boosted their price target on shares of Everest Group from $355.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. Atlantic Securities set a $484.00 price target on shares of Everest Group in a report on Wednesday, July 15th. Finally, TD Cowen lifted their price objective on shares of Everest Group from $365.00 to $385.00 and gave the stock a "hold" rating in a report on Wednesday, August 19th. Four equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Everest Group has a consensus rating of "Hold" and a consensus price target of $395.27.

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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