M&T Bank Corp Acquires 77,309 Shares of Everest Group, Ltd. $EG

Key Points

• M&T Bank Corp increased its stake in Everest Group by 4,077.5% in Q4, acquiring 77,309 shares to own 79,205 shares (about 0.19% of the company) valued at roughly $26.88 million.
• Everest Group reported quarterly EPS of $13.26 (missed estimates by $0.10) with revenue of $4.42 billion (ahead of expectations); the company has a $17.17 billion market cap, a P/E of 9.12, and pays an $8.00 annual dividend (yield ~2.3%).
• Wall Street sentiment is mixed with a consensus rating of "Hold" (average target $366.14, six Buys vs. ten Holds) while institutional investors own about 92.64% of the stock.

M&T Bank Corp raised its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 4,077.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,205 shares of the company's stock after acquiring an additional 77,309 shares during the period. M&T Bank Corp owned about 0.19% of Everest Group worth $26,878,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in Everest Group by 4.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 652,194 shares of the company's stock valued at $228,418,000 after acquiring an additional 29,586 shares during the last quarter. Clear Harbor Asset Management LLC grew its position in Everest Group by 9.2% during the third quarter. Clear Harbor Asset Management LLC now owns 17,942 shares of the company's stock valued at $6,284,000 after acquiring an additional 1,517 shares during the last quarter. Bright Futures Wealth Management LLC. bought a new position in Everest Group during the third quarter valued at approximately $589,000. Cerity Partners LLC boosted its stake in shares of Everest Group by 46.4% during the third quarter. Cerity Partners LLC now owns 43,771 shares of the company's stock valued at $15,330,000 after purchasing an additional 13,864 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Everest Group by 141.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 21,076 shares of the company's stock valued at $7,690,000 after purchasing an additional 12,343 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Everest Group Stock Performance

Shares of EG stock opened at $345.13 on Thursday. The stock has a fifty day moving average of $332.47 and a 200 day moving average of $329.97. Everest Group, Ltd. has a 52 week low of $302.44 and a 52 week high of $368.29. The firm has a market capitalization of $17.17 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 0.26 and a beta of 0.34. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported $13.26 EPS for the quarter, missing analysts' consensus estimates of $13.36 by ($0.10). Everest Group had a return on equity of 12.50% and a net margin of 9.09%.The business had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $3.97 billion. During the same period in the previous year, the business earned ($18.39) EPS. The business's revenue was down 4.6% compared to the same quarter last year. As a group, research analysts expect that Everest Group, Ltd. will post 52.99 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. Everest Group's dividend payout ratio (DPR) is presently 21.13%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EG. Zacks Research raised Everest Group from a "strong sell" rating to a "hold" rating in a research note on Monday, January 12th. Weiss Ratings reissued a "hold (c)" rating on shares of Everest Group in a research note on Thursday, January 22nd. Cantor Fitzgerald dropped their price objective on Everest Group from $348.00 to $344.00 and set a "neutral" rating for the company in a research note on Wednesday, January 14th. Evercore set a $365.00 price objective on Everest Group in a research note on Wednesday, January 7th. Finally, Bank of America increased their price objective on Everest Group from $430.00 to $454.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $366.14.

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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