Man Group plc Takes $10.37 Million Position in Everest Group, Ltd. $EG

Key Points

• Man Group acquired a new $10.37 million stake in Everest Group, purchasing 29,039 shares and owning approximately 0.08% of the company. Institutional investors and hedge funds collectively hold 92.64% of Everest’s stock.
• Everest Group exceeded quarterly earnings expectations, reporting $14.85 in EPS versus the $14.52 consensus, although revenue fell 11.8% year over year to $3.96 billion.
• The company declared a quarterly dividend of $2.00 per share, or $8.00 annualized, representing a 2.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $395.27, compared with the stock’s $378.25 price.

Man Group plc acquired 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 Securities & Exchange Commission. The firm acquired 29,039 shares of the company's stock, valued at approximately $10,374,000. Man Group plc owned about 0.08% of Everest Group at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Siemens Fonds Invest GmbH raised its holdings in shares of Everest Group by 3.3% during the fourth quarter. Siemens Fonds Invest GmbH now owns 1,067 shares of the company's stock worth $364,000 after purchasing an additional 34 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of Everest Group by 4.0% in the 1st quarter. V Square Quantitative Management LLC now owns 968 shares of the company's stock valued at $316,000 after buying an additional 37 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Everest Group by 27.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 171 shares of the company's stock valued at $58,000 after buying an additional 37 shares during the last quarter. GenTrust LLC grew its position in shares of Everest Group by 4.8% during the 4th quarter. GenTrust LLC now owns 874 shares of the company's stock valued at $297,000 after buying an additional 40 shares during the last quarter. Finally, Tred Avon Family Wealth LLC boosted its stake in Everest Group by 6.5% in the first quarter. Tred Avon Family Wealth LLC now owns 657 shares of the company's stock valued at $215,000 after acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 92.64% of the company's stock.

Everest Group Stock Up 0.2%

NYSE EG opened at $378.25 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. The company's 50 day simple moving average is $370.37 and its 200 day simple moving average is $348.47. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $401.07. The company has a market capitalization of $14.50 billion, a P/E ratio of 8.00, a PEG ratio of 0.74 and a beta of 0.29.

Everest Group (NYSE:EG - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $14.85 earnings per share for the quarter, topping analysts' consensus estimates 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%. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the firm posted $16.10 earnings per share. Equities research analysts expect that Everest Group, Ltd. will post 53.28 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

EG has been the subject of several recent research reports. UBS Group upped their target price on Everest Group from $374.00 to $395.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods boosted their price objective on Everest Group from $411.00 to $414.00 and gave the company an "outperform" rating in a research report on Wednesday, July 8th. Citigroup increased their target price on Everest Group from $395.00 to $415.00 and gave the stock a "neutral" rating in a research report on Friday, July 31st. Cantor Fitzgerald boosted their price target on shares of Everest Group from $344.00 to $390.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Finally, Mizuho lowered their price target on shares of Everest Group from $418.00 to $416.00 and set a "neutral" rating for the company in a research report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, Everest Group has an average rating of "Hold" and a consensus target price 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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