Nuance Investments LLC Purchases New Position in Everest Group, Ltd. $EG

Key Points

• Nuance Investments initiated a position in Everest Group during the second quarter, buying 28,398 shares worth approximately $10.1 million. The stock now represents 1.7% of Nuance’s portfolio, while institutional investors collectively own 92.64% of Everest Group.
• Analyst sentiment remains cautious: the consensus rating is “Hold” from 16 analysts, with an average price target of $393.93. Barclays is the only highlighted firm to assign an “Overweight” rating, raising its target to $430.
• Everest Group beat quarterly EPS expectations with $14.85 versus $14.52, but revenue fell 11.8% year over year to $3.96 billion. The company declared a quarterly dividend of $2.00, equivalent to an annualized $8.00 payout and a 2.2% yield.

Nuance Investments LLC purchased a new position in Everest Group, Ltd. (NYSE:EG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,398 shares of the company's stock, valued at approximately $10,145,000. Everest Group comprises 1.7% of Nuance Investments LLC's investment portfolio, making the stock its 16th biggest position. Nuance Investments LLC owned 0.07% of Everest Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in EG. BlackRock Inc. purchased a new stake in Everest Group during the 2nd quarter valued at $1,150,555,000. AQR Capital Management LLC increased its position in Everest Group by 70.3% during the third quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company's stock valued at $695,275,000 after acquiring an additional 830,418 shares during the last quarter. State Street Corp lifted its holdings in Everest Group by 0.4% in the fourth quarter. State Street Corp now owns 1,906,692 shares of the company's stock valued at $647,036,000 after acquiring an additional 7,806 shares during the period. Norges Bank purchased a new position in Everest Group in the fourth quarter worth about $630,277,000. Finally, Vulcan Value Partners LLC boosted its position in Everest Group by 6.5% in the fourth quarter. Vulcan Value Partners LLC now owns 1,509,740 shares of the company's stock worth $512,288,000 after purchasing an additional 92,274 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Mizuho lowered their price objective on shares of Everest Group from $418.00 to $416.00 and set a "neutral" rating on the stock in a research note on Friday, July 31st. 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. Cantor Fitzgerald upped their target price 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. Barclays increased their price target on shares of Everest Group from $420.00 to $430.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company lifted 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. Four analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $393.93.

Everest Group Stock Down 1.4%

EG stock opened at $365.02 on Tuesday. The business's 50-day moving average price is $363.79 and its 200-day moving average price is $345.82. The stock has a market cap of $13.99 billion, a P/E ratio of 7.72, a PEG ratio of 0.73 and a beta of 0.29. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $401.07.

Everest Group (NYSE:EG - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $14.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.52 by $0.33. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The company had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the firm posted $16.10 EPS. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities research analysts forecast that Everest Group, Ltd. will post 53.13 EPS for the current year.

Everest Group Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.2%. Everest Group's dividend payout ratio is 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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