Corient Private Wealth LP Acquires Shares of 33,929 Everest Group, Ltd. $EG

Key Points

• Corient Private Wealth LP acquired 33,929 shares of Everest Group in the second quarter, valued at approximately $12.1 million and representing about 0.09% of the company. Institutional investors collectively own 92.64% of Everest Group.
• Everest Group reported quarterly EPS of $14.85, beating estimates of $14.52, while revenue fell 11.8% year over year to $3.96 billion. The stock opened at $378.25, near its 52-week high, with a market capitalization of $14.5 billion.
• The company declared a quarterly dividend of $2.00 per share, equating to an annualized $8.00 payout and a 2.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $395.27.

Corient Private Wealth LP bought a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 33,929 shares of the company's stock, valued at approximately $12,120,000. Corient Private Wealth LP owned approximately 0.09% of Everest Group at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Trifecta Capital Advisors LLC acquired a new stake in shares of Everest Group in the second quarter valued at approximately $29,000. Activest Wealth Management purchased a new position in Everest Group during the fourth quarter worth about $34,000. Raiffeisen Bank International AG acquired a new position in Everest Group during the fourth quarter worth $34,000. Cullen Frost Bankers Inc. acquired a new position in Everest Group in the 4th quarter valued at about $37,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in Everest Group during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 92.64% of the company's stock.

Everest Group Price Performance

EG opened at $378.25 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market capitalization of $14.50 billion, a PE ratio of 8.00, a P/E/G ratio of 0.74 and a beta of 0.29. Everest Group, Ltd. has a 1 year low of $302.44 and a 1 year high of $401.07. The company's 50 day simple moving average is $370.37 and its 200 day simple moving average is $348.47.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data 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. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The company had revenue of $3.96 billion during the quarter, compared to analysts' expectations of $3.99 billion. During the same period in the previous year, the company earned $16.10 EPS. The business's quarterly revenue was down 11.8% compared to the same quarter last year. As a group, sell-side analysts expect that Everest Group, Ltd. will post 53.28 EPS for the current year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th will be given a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $8.00 annualized dividend and a dividend yield of 2.1%. Everest Group's dividend payout ratio is presently 16.92%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EG. Cantor Fitzgerald boosted their target price on shares of Everest Group from $344.00 to $390.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Weiss Ratings raised Everest Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, July 10th. Citigroup lifted 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. Keefe, Bruyette & Woods lifted their price target on shares of Everest Group from $411.00 to $414.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Finally, TD Cowen raised their price target on Everest Group from $365.00 to $385.00 and gave the company a "hold" rating in a research report on Wednesday, August 19th. Four investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $395.27.

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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