Dockside LLC Takes Position in Everest Group, Ltd. $EG

Key Points

• Dockside LLC acquired 4,520 Everest Group shares worth approximately $1.615 million during the second quarter. Institutional investors collectively own 92.64% of the company, with several major funds recently increasing their positions.
• Analysts maintain a largely cautious outlook: Everest Group has a consensus “Hold” rating and an average price target of $393.93, despite targets ranging from $376 to $484.
• Everest Group reported quarterly EPS of $14.85, beating estimates, but revenue fell 11.8% year over year to $3.96 billion. The company also announced a quarterly dividend of $2.00 per share, representing a 2.2% yield.

Dockside 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 Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,520 shares of the company's stock, valued at approximately $1,615,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EG. Norges Bank acquired a new stake in shares of Everest Group during the fourth quarter worth $630,277,000. AQR Capital Management LLC increased its stake in Everest Group by 70.3% in 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 last quarter. Northwestern Mutual Wealth Management Co. increased its stake 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 purchasing an additional 515,063 shares during the last quarter. Hsbc Holdings PLC lifted its position in Everest Group by 507.4% during the first quarter. Hsbc Holdings PLC now owns 449,919 shares of the company's stock worth $147,102,000 after buying an additional 375,846 shares during the period. Finally, Balyasny Asset Management L.P. lifted its position in Everest Group by 181.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 498,697 shares of the company's stock worth $169,233,000 after buying an additional 321,376 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EG has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on Everest Group from $373.00 to $396.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. BMO Capital Markets increased their price objective on shares of Everest Group from $366.00 to $376.00 and gave the stock a "market perform" rating in a report on Thursday, May 14th. Mizuho decreased their target price 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. Atlantic Securities set a $484.00 target price on shares of Everest Group in a report on Wednesday, July 15th. Finally, Cantor Fitzgerald increased their price target 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. Four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $393.93.

Everest Group Stock Performance

Everest Group stock opened at $369.91 on Friday. 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, Ltd. has a 12 month low of $302.44 and a 12 month high of $401.07. The company has a market cap of $14.18 billion, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29. The stock's 50-day moving average is $363.11 and its 200-day moving average is $345.40.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $14.85 EPS for the quarter, beating the consensus estimate of $14.52 by $0.33. The firm had revenue of $3.96 billion for 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%. Everest Group's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $16.10 earnings per share. Equities analysts anticipate that Everest Group, Ltd. will post 53.13 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 9th. Everest Group's dividend payout ratio (DPR) is currently 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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