Empowered Funds LLC Acquires New Shares in Everest Group, Ltd. $EG

Key Points

• Empowered Funds LLC acquired 34,640 Everest Group shares worth approximately $12.4 million during the second quarter, representing a 0.09% stake. Institutional investors and hedge funds collectively own 92.64% of the company.
• Everest Group reported quarterly EPS of $14.85, beating estimates of $14.52, while revenue of $3.96 billion fell short of expectations and declined 11.8% year over year.
• The company declared a quarterly dividend of $2.00 per share, or $8.00 annualized, yielding about 2.1%. Analysts maintain a consensus “Hold” rating with an average price target of $395.27.

Empowered Funds LLC bought a new stake in 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 and Exchange Commission (SEC). The institutional investor bought 34,640 shares of the company's stock, valued at approximately $12,374,000. Empowered Funds LLC owned 0.09% of Everest Group at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EG. United Capital Financial Advisors LLC bought a new stake in shares of Everest Group in the 2nd quarter valued at about $648,000. Centaurus Financial Inc. acquired a new position in Everest Group during the second quarter valued at approximately $154,000. Coastal Bridge Advisors LLC bought a new stake in Everest Group in the second quarter valued at approximately $296,000. Public Employees Retirement System of Ohio acquired a new stake in Everest Group in the second quarter worth $5,351,000. Finally, Transamerica Financial Advisors LLC bought a new position in shares of Everest Group during the second quarter worth $80,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Price Performance

Shares of EG opened at $378.25 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The company's fifty day simple moving average is $370.37 and its 200 day simple moving average is $348.47. Everest Group, Ltd. has a 1-year low of $302.44 and a 1-year high of $401.07. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 0.74 and a beta of 0.29.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $14.85 EPS for the quarter, beating analysts' consensus estimates of $14.52 by $0.33. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.99 billion. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The company's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $16.10 EPS. On average, research analysts forecast that Everest Group, Ltd. will post 53.28 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

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

Wall Street Analyst Weigh In

EG has been the subject of a number of recent analyst reports. UBS Group upped their price objective on shares of Everest Group from $374.00 to $395.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. TD Cowen lifted their target price on Everest Group from $365.00 to $385.00 and gave the stock a "hold" rating in a report on Wednesday, August 19th. Weiss Ratings upgraded Everest Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. Cantor Fitzgerald raised their price target on Everest Group from $344.00 to $390.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Finally, Evercore set a $377.00 price objective on Everest Group in a research report on Thursday, July 30th. Four 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 price target of $395.27.

Everest Group Company 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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