HighTower Advisors LLC Has $17.16 Million Holdings in Everest Group, Ltd. $EG

Key Points

• HighTower Advisors increased its Everest Group stake by 1,481.9% in the second quarter, reaching 48,043 shares valued at approximately $17.16 million. Institutional investors collectively own 92.64% of the company.
• Analysts maintain a generally cautious outlook, with four Buy ratings and twelve Hold ratings. Everest Group has an average rating of Hold and a consensus price target of $395.27.
• Everest Group reported quarterly EPS of $14.85 on $3.96 billion in revenue and expects full-year EPS of $53.28. The company also declared a quarterly dividend of $2.00 per share, equivalent to an annualized yield of about 2.2%.

HighTower Advisors LLC increased its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 1,481.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,043 shares of the company's stock after acquiring an additional 45,006 shares during the quarter. HighTower Advisors LLC owned about 0.13% of Everest Group worth $17,162,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in shares of Everest Group by 98.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 181 shares of the company's stock worth $66,000 after purchasing an additional 90 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Everest Group in the 2nd quarter valued at approximately $384,000. Marshall Wace LLP acquired a new stake in Everest Group in the 2nd quarter valued at approximately $238,000. Jump Financial LLC bought a new position in Everest Group in the 2nd quarter worth approximately $1,510,000. Finally, Federated Hermes Inc. lifted its holdings in shares of Everest Group by 3.7% during the second quarter. Federated Hermes Inc. now owns 14,411 shares of the company's stock worth $4,898,000 after buying an additional 510 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EG. TD Cowen increased their price objective on Everest Group from $365.00 to $385.00 and gave the company a "hold" rating in a research report on Wednesday, August 19th. Wells Fargo & Company upped their target price on shares of Everest Group from $373.00 to $396.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Morgan Stanley increased their price target on shares of Everest Group from $355.00 to $360.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. Weiss Ratings upgraded shares of Everest Group from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, July 10th. Finally, Citigroup raised their price target on shares of Everest Group from $395.00 to $415.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, Everest Group has an average rating of "Hold" and a consensus target price of $395.27.

Everest Group Stock Performance

Shares of NYSE EG opened at $370.47 on Wednesday. The business has a fifty day simple moving average of $374.47 and a 200 day simple moving average of $350.66. 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 firm has a market capitalization of $14.21 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 0.75 and a beta of 0.28. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $401.07.

Everest Group (NYSE:EG - Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported $14.85 EPS for the quarter. Everest Group had a return on equity of 13.63% and a net margin of 11.41%.The firm had revenue of $3.96 billion during the quarter. 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 issued a dividend of $2.00 per share. 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 presently 16.92%.

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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