Summit Global Investments Invests $4.18 Million in Everest Group, Ltd. $EG

Key Points

• Summit Global Investments initiated a $4.18 million position in Everest Group during the second quarter, purchasing 11,691 shares. Institutional investors and hedge funds collectively own 92.64% of the company.
• Analysts maintain a generally cautious outlook, with four Buy ratings and twelve Holds; the average price target is $393.93, while recent targets range from $360 to $415.
• Everest Group exceeded quarterly EPS expectations, reporting $14.85 versus the $14.52 consensus, though revenue fell 11.8% year over year. The company declared a quarterly dividend of $2.00, equivalent to an annualized yield of about 2.2%.

Summit Global Investments bought a new stake in Everest Group, Ltd. (NYSE:EG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,691 shares of the company's stock, valued at approximately $4,176,000.

A number of other large investors have also recently made changes to their positions in EG. Siemens Fonds Invest GmbH grew its stake in Everest Group by 3.3% during the 4th quarter. Siemens Fonds Invest GmbH now owns 1,067 shares of the company's stock worth $364,000 after buying an additional 34 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in Everest Group by 4.0% in the first 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 last quarter. Brown Brothers Harriman & Co. lifted its stake in Everest Group by 27.6% in the fourth 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 boosted its holdings in shares of Everest Group by 4.8% in the fourth quarter. GenTrust LLC now owns 874 shares of the company's stock valued at $297,000 after acquiring an additional 40 shares during the period. Finally, Tred Avon Family Wealth LLC boosted its holdings in shares of 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. 92.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EG. Citigroup boosted their price target on Everest Group from $395.00 to $415.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Morgan Stanley increased their price objective on Everest Group from $355.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Monday, July 6th. Cantor Fitzgerald lifted their target price on Everest Group from $344.00 to $390.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Keefe, Bruyette & Woods lifted their target price on Everest Group from $411.00 to $414.00 and gave the company an "outperform" rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings raised Everest Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, July 10th. Four investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $393.93.

Everest Group Stock Up 1.1%

Shares of NYSE:EG opened at $369.91 on Friday. The company has a market cap of $14.18 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 0.72 and a beta of 0.29. The firm's 50-day simple moving average is $363.11 and its 200-day simple moving average is $345.40. 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 fifty-two week low of $302.44 and a fifty-two week high of $401.07.

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

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 9th. Everest Group's payout ratio is currently 16.92%.

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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