Great Lakes Advisors LLC Purchases Shares of 10,771 Everest Group, Ltd. $EG

Great Lakes Advisors LLC bought a new position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 10,771 shares of the company's stock, valued at approximately $3,848,000.

Several other institutional investors have also recently modified their holdings of EG. M&T Bank Corp increased its holdings in Everest Group by 4,077.5% in the fourth quarter. M&T Bank Corp now owns 79,205 shares of the company's stock valued at $26,878,000 after buying an additional 77,309 shares in the last quarter. Algebris UK Ltd. acquired a new position in shares of Everest Group in the 4th quarter valued at $23,460,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Everest Group by 12,322.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company's stock valued at $176,205,000 after buying an additional 515,063 shares during the period. Bank of America Corp DE grew its stake in Everest Group by 7.7% during the 1st quarter. Bank of America Corp DE now owns 233,326 shares of the company's stock worth $76,263,000 after purchasing an additional 16,701 shares in the last quarter. Finally, National Pension Service boosted its holdings in Everest Group by 13.2% in the fourth quarter. National Pension Service now owns 44,113 shares of the company's stock valued at $14,970,000 after purchasing an additional 5,157 shares in the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Stock Up 1.4%

Everest Group stock opened at $368.89 on Friday. The firm has a market capitalization of $14.14 billion, a P/E ratio of 7.80, a P/E/G ratio of 0.72 and a beta of 0.29. The company has a 50-day simple moving average of $365.72 and a 200-day simple moving average of $346.63. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $401.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.35 and a current ratio of 0.35.

Everest Group (NYSE:EG - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $14.85 EPS for the quarter, topping the consensus estimate of $14.52 by $0.33. The firm had revenue of $3.96 billion during the quarter, compared to analysts' expectations of $3.99 billion. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. Everest Group's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $16.10 EPS. As a group, equities analysts expect that Everest Group, Ltd. will post 52.83 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $8.00 annualized dividend and a dividend yield of 2.2%. Everest Group's dividend payout ratio is presently 16.92%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EG. UBS Group raised their price objective on shares of Everest Group from $374.00 to $395.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Morgan Stanley increased their price objective on Everest Group from $355.00 to $360.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Wells Fargo & Company raised their price target on shares of Everest Group from $373.00 to $396.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. Citigroup upped their price objective on shares of Everest Group from $395.00 to $415.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Finally, BMO Capital Markets lifted their target price on shares of Everest Group from $366.00 to $376.00 and gave the stock a "market perform" rating in a research note on Thursday, May 14th. Four research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $395.27.

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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