Bank of New York Mellon Corp Takes $71.53 Million Position in Everest Group, Ltd. $EG

Bank of New York Mellon Corp purchased a new position in Everest Group, Ltd. (NYSE:EG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 200,235 shares of the company's stock, valued at approximately $71,530,000. Bank of New York Mellon Corp owned approximately 0.51% of Everest Group at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of EG. Norges Bank bought a new stake in shares of Everest Group in the fourth quarter worth approximately $630,277,000. AQR Capital Management LLC lifted its position in Everest Group by 70.3% during the third quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company's stock valued at $695,275,000 after purchasing an additional 830,418 shares during the period. Northwestern Mutual Wealth Management Co. boosted 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 worth $176,205,000 after purchasing an additional 515,063 shares during the last quarter. Hsbc Holdings PLC boosted its holdings 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. Finally, Balyasny Asset Management L.P. grew its position in Everest Group by 181.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 498,697 shares of the company's stock worth $169,233,000 after purchasing an additional 321,376 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on EG. Weiss Ratings raised Everest Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. Mizuho cut their price objective on Everest Group from $418.00 to $416.00 and set a "neutral" rating for the company in a report on Friday, July 31st. Morgan Stanley upped their price objective on Everest Group from $355.00 to $360.00 and gave the company an "equal weight" rating in a research report on Monday, July 6th. Atlantic Securities set a $484.00 target price on Everest Group in a report on Wednesday, July 15th. Finally, BMO Capital Markets raised their target price on Everest Group from $366.00 to $376.00 and gave the stock a "market perform" rating in a research report on Thursday, May 14th. Four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $395.27.

Everest Group Trading Down 0.2%

NYSE:EG opened at $376.01 on Wednesday. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $401.07. The business has a fifty day moving average price of $367.85 and a 200-day moving average price of $347.54. The firm has a market capitalization of $14.42 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 0.74 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35.

Everest Group (NYSE:EG - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $14.85 earnings per share for the quarter, beating the consensus estimate of $14.52 by $0.33. Everest Group had a return on equity of 13.63% and a net margin of 11.41%.The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the business earned $16.10 earnings per share. Everest Group's quarterly revenue was down 11.8% compared to the same quarter last year. Sell-side analysts forecast that Everest Group, Ltd. will post 53.28 EPS for the current year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be paid a dividend of $2.00 per share. The ex-dividend date is Wednesday, September 9th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.1%. Everest Group's payout ratio is 16.92%.

About Everest Group

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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