Everest Group, Ltd. $EG Shares Acquired by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Everest Group stake by 245% in the first quarter, purchasing 115,120 additional shares for a total of 162,100 shares valued at approximately $53 million. Institutional investors and hedge funds collectively own 92.64% of the company.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $387.73; individual targets range from $360 to $484.
• Everest Group shares opened at $385.50, near their 52-week high, while the company reported $16.08 in quarterly EPS and maintains a quarterly dividend of $2.00 per share, equivalent to a 2.1% yield.

Renaissance Technologies LLC grew its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 245.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 162,100 shares of the company's stock after buying an additional 115,120 shares during the period. Renaissance Technologies LLC owned 0.41% of Everest Group worth $52,982,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Activest Wealth Management acquired a new position in shares of Everest Group in the 4th quarter valued at $34,000. Raiffeisen Bank International AG acquired a new position in shares of Everest Group in the fourth quarter valued at about $34,000. Cullen Frost Bankers Inc. purchased a new position in shares of Everest Group in the fourth quarter worth about $37,000. CYBER HORNET ETFs LLC purchased a new position in shares of Everest Group in the second quarter worth about $39,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Everest Group during the second quarter worth about $43,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on EG. Mizuho increased their price target on shares of Everest Group from $388.00 to $418.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Atlantic Securities set a $484.00 price objective on shares of Everest Group in a report on Wednesday, July 15th. Morgan Stanley increased their price objective on shares of Everest Group from $355.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. BMO Capital Markets upped their price target on shares of Everest Group from $366.00 to $376.00 and gave the company a "market perform" rating in a report on Thursday, May 14th. Finally, Keefe, Bruyette & Woods increased their price target on Everest Group from $411.00 to $414.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 8th. Four equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Everest Group presently has a consensus rating of "Hold" and an average target price of $387.73.

Everest Group Stock Up 0.1%

Shares of NYSE EG opened at $385.50 on Monday. The company's 50-day simple moving average is $352.67 and its 200-day simple moving average is $340.29. Everest Group, Ltd. has a 52-week low of $302.44 and a 52-week high of $386.87. The firm has a market cap of $15.25 billion, a price-to-earnings ratio of 7.84, a price-to-earnings-growth ratio of 0.60 and a beta of 0.29. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings results on Monday, March 23rd. The company reported $16.08 earnings per share for the quarter. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. The firm had revenue of $4.07 billion for the quarter. Equities analysts predict that Everest Group, Ltd. will post 52.86 EPS for the current fiscal year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, June 12th. Everest Group's payout ratio is presently 16.27%.

Insider Buying and Selling

In related news, CEO Jason Keen sold 775 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $351.84, for a total value of $272,676.00. Following the completion of the transaction, the chief executive officer directly owned 8,170 shares of the company's stock, valued at approximately $2,874,532.80. This represents a 8.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company's stock.

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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