Allied Private Wealth LLC Invests $1.24 Million in Everest Group, Ltd. $EG

Key Points

• Allied Private Wealth LLC initiated a $1.24 million position in Everest Group, purchasing 3,334 shares. Institutional investors collectively own 92.64% of the company.
• Analyst sentiment remains cautious, with a consensus “Hold” rating from 16 analysts and an average price target of $393.93, compared with shares opening at $374.14.
• Everest Group exceeded quarterly EPS expectations, reporting $14.85 versus the $14.52 consensus, though revenue fell 11.8% year over year. The company also maintains a quarterly dividend of $2.00, representing a 2.1% annualized yield.

Allied Private Wealth LLC bought a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,334 shares of the company's stock, valued at approximately $1,238,000. Everest Group makes up about 0.8% of Allied Private Wealth LLC's holdings, making the stock its 21st biggest holding.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Everest Group during the 4th quarter worth $630,277,000. AQR Capital Management LLC increased its position in shares of Everest Group by 70.3% during the third 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. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Everest Group by 12,322.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company's stock worth $176,205,000 after acquiring an additional 515,063 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Everest Group by 507.4% in the first quarter. Hsbc Holdings PLC now owns 449,919 shares of the company's stock worth $147,102,000 after acquiring an additional 375,846 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in Everest Group by 181.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 498,697 shares of the company's stock valued at $169,233,000 after purchasing an additional 321,376 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EG has been the subject of a number of recent analyst reports. Morgan Stanley raised their price objective on Everest Group from $355.00 to $360.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Evercore set a $377.00 target price on Everest Group in a research report on Thursday, July 30th. Atlantic Securities set a $484.00 target price on Everest Group in a research note on Wednesday, July 15th. BMO Capital Markets raised their price target on shares of Everest Group from $366.00 to $376.00 and gave the stock a "market perform" rating in a research report on Thursday, May 14th. Finally, Wells Fargo & Company lifted their price target on shares of Everest Group from $373.00 to $396.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $393.93.

Everest Group Price Performance

Shares of NYSE EG opened at $374.14 on Monday. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $401.07. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $14.34 billion, a price-to-earnings ratio of 7.91, a price-to-earnings-growth ratio of 0.74 and a beta of 0.29. The business has a 50 day simple moving average of $358.79 and a 200-day simple moving average of $343.98.

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 (EPS) for the quarter, beating the consensus estimate of $14.52 by $0.33. The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.99 billion. Everest Group had a return on equity of 13.63% and a net margin of 11.41%.The business's revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $16.10 EPS. As a group, equities research analysts expect that Everest Group, Ltd. will post 53.13 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $8.00 annualized dividend and a dividend yield of 2.1%. Everest Group's payout ratio is 16.92%.

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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