OMERS ADMINISTRATION Corp Invests $4.75 Million in Everest Group, Ltd. $EG

Key Points

• OMERS Administration Corp. acquired a new 13,311-share stake in Everest Group during the second quarter, valued at approximately $4.75 million. Institutional investors collectively own 92.64% of the company.
• Analysts maintain a generally cautious outlook, with 12 Hold ratings and four Buy ratings; the consensus price target is $395.27, above the stock’s reported $376.64 opening price.
• Everest Group exceeded quarterly EPS expectations, reporting $14.85 versus the $14.52 consensus, but revenue fell 11.8% year over year to $3.96 billion. The company declared a quarterly dividend of $2 per share, representing a 2.1% yield.

OMERS ADMINISTRATION Corp bought a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,311 shares of the company's stock, valued at approximately $4,755,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Algebris UK Ltd. purchased a new position in shares of Everest Group in the fourth quarter worth $23,460,000. Northwestern Mutual Wealth Management Co. raised its holdings in Everest Group by 12,322.1% during 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 last quarter. Bank of America Corp DE boosted its position 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 valued at $76,263,000 after buying an additional 16,701 shares during the period. National Pension Service boosted its position in Everest Group by 13.2% during the 4th quarter. National Pension Service now owns 44,113 shares of the company's stock valued at $14,970,000 after buying an additional 5,157 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Everest Group by 507.4% in the 1st quarter. Hsbc Holdings PLC now owns 449,919 shares of the company's stock worth $147,102,000 after acquiring an additional 375,846 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. BMO Capital Markets upped their price objective on shares of Everest Group from $366.00 to $376.00 and gave the company a "market perform" rating in a research note on Thursday, May 14th. Keefe, Bruyette & Woods boosted their price target on Everest Group from $411.00 to $414.00 and gave the company an "outperform" rating in a report on Wednesday, July 8th. Evercore set a $377.00 price target on Everest Group in a research report on Thursday, July 30th. TD Cowen increased their price objective on Everest Group from $365.00 to $385.00 and gave the stock a "hold" rating in a report on Wednesday, August 19th. Finally, Citigroup boosted their target price on Everest Group from $395.00 to $415.00 and gave the company a "neutral" 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 company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $395.27.

Everest Group Trading Up 1.8%

NYSE:EG opened at $376.64 on Tuesday. The company has a 50-day moving average price of $367.10 and a 200-day moving average price of $347.23. The stock has a market cap of $14.44 billion, a price-to-earnings ratio of 7.96, a P/E/G ratio of 0.73 and a beta of 0.29. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $401.07.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $14.85 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $3.99 billion. During the same quarter in the previous year, the company earned $16.10 earnings per share. Everest Group's quarterly revenue was down 11.8% on a year-over-year basis. Equities analysts predict that Everest Group, Ltd. will post 52.91 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. Shareholders of record on Wednesday, September 9th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Everest Group's payout ratio is presently 16.92%.

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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