Bank of America Corp DE Boosts Stake in Everest Group, Ltd. $EG

Key Points

• Bank of America increased its Everest Group stake by 7.7% in the first quarter, bringing its holdings to 233,326 shares valued at approximately $76.3 million. Institutional investors collectively own 92.64% of the stock.
• Analysts maintain a largely neutral outlook, with 12 Hold ratings and four Buy ratings. The average price target is $393.93, while individual targets range from $360 to $416.
• Everest Group’s latest quarterly earnings beat expectations at $14.85 per share versus $14.52 forecast, though revenue fell 11.8% year over year to $3.96 billion. The company also pays a quarterly dividend of $2.00 per share, representing a 2.1% yield.

Bank of America Corp DE increased its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 7.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 233,326 shares of the company's stock after purchasing an additional 16,701 shares during the quarter. Bank of America Corp DE owned 0.59% of Everest Group worth $76,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of EG. Algebris UK Ltd. bought a new stake in shares of Everest Group in the fourth quarter worth $23,460,000. M&T Bank Corp increased its position in Everest Group by 4,077.5% during the fourth quarter. M&T Bank Corp now owns 79,205 shares of the company's stock valued at $26,878,000 after acquiring an additional 77,309 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in 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 valued at $176,205,000 after acquiring an additional 515,063 shares during the period. National Pension Service boosted its position in Everest Group by 13.2% in the fourth quarter. National Pension Service now owns 44,113 shares of the company's stock worth $14,970,000 after purchasing an additional 5,157 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its position in 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 purchasing an additional 375,846 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Morgan Stanley upped their price target on shares of Everest Group from $355.00 to $360.00 and gave the company an "equal weight" rating in a research report on Monday, July 6th. UBS Group raised their price objective on shares of Everest Group from $374.00 to $395.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Cantor Fitzgerald boosted their target price on shares of Everest Group from $344.00 to $390.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $411.00 to $414.00 and gave the company an "outperform" rating in a report on Wednesday, July 8th. Finally, Mizuho decreased their price target on shares of Everest Group from $418.00 to $416.00 and set a "neutral" rating on the stock in a research report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $393.93.

Everest Group Stock Down 0.2%

EG stock opened at $374.14 on Monday. The business's 50-day moving average price is $358.79 and its 200-day moving average price is $343.98. The stock has a market cap of $14.34 billion, a P/E ratio of 7.91, a PEG ratio of 0.74 and a beta of 0.29. 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, Ltd. has a twelve month low of $302.44 and a twelve month high of $401.07.

Everest Group (NYSE:EG - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $14.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.52 by $0.33. The company had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.99 billion. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $16.10 EPS. On average, equities research analysts forecast that Everest Group, Ltd. will post 53.13 EPS for the current year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, June 12th. Everest Group's dividend payout ratio (DPR) is presently 16.92%.

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.

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