Callan Family Office LLC Makes New Investment in Everest Group, Ltd. $EG

Key Points

• Callan Family Office LLC acquired 3,294 shares of Everest Group valued at approximately $1.18 million during the second quarter. Institutional investors and hedge funds collectively own 92.64% of the company.
• Analysts maintain a cautious outlook, with a consensus “Hold” rating and an average price target of $395.27; recent targets range from $377 to $430.
• Everest Group beat quarterly earnings expectations with EPS of $14.85, although revenue fell 11.8% year over year. The company declared a quarterly dividend of $2.00 per share, equivalent to a 2.1% annualized yield.

Callan Family Office LLC acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,294 shares of the company's stock, valued at approximately $1,177,000.

Several other hedge funds have also recently modified their holdings of the stock. Geneos Wealth Management Inc. grew its position in Everest Group by 98.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 181 shares of the company's stock worth $66,000 after purchasing an additional 90 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Everest Group during the 2nd quarter valued at approximately $384,000. Marshall Wace LLP acquired a new position in Everest Group during the 2nd quarter valued at approximately $238,000. Jump Financial LLC purchased a new position in shares of Everest Group in the second quarter worth $1,510,000. Finally, Federated Hermes Inc. raised its holdings in shares of Everest Group by 3.7% in the second quarter. Federated Hermes Inc. now owns 14,411 shares of the company's stock worth $4,898,000 after buying an additional 510 shares during the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on EG. Evercore set a $377.00 price objective on shares of Everest Group in a report on Thursday, July 30th. Keefe, Bruyette & Woods raised their target price on Everest Group from $411.00 to $414.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. Barclays lifted their price target on Everest Group from $420.00 to $430.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Citigroup boosted their price target on Everest Group from $395.00 to $415.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Finally, Cantor Fitzgerald increased their price objective on Everest Group from $344.00 to $390.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $395.27.

Everest Group Trading Up 1.8%

Shares of NYSE:EG opened at $376.64 on Tuesday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $401.07. The business has a 50 day moving average of $367.10 and a two-hundred day moving average of $347.23. The company has a market capitalization of $14.44 billion, a PE ratio of 7.96, a PEG ratio of 0.73 and a beta of 0.29.

Everest Group (NYSE:EG - Get Free Report) last posted 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 net margin of 11.41% and a return on equity of 13.63%. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period in the previous year, the firm earned $16.10 EPS. The business's quarterly revenue was down 11.8% on a year-over-year basis. As a group, analysts forecast that Everest Group, Ltd. will post 52.91 EPS for the current year.

Everest Group Dividend Announcement

The company 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 currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source