The Manufacturers Life Insurance Company acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 25,536 shares of the company's stock, valued at approximately $9,122,000. The Manufacturers Life Insurance Company owned 0.07% of Everest Group at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Geneos Wealth Management Inc. boosted its stake in Everest Group by 98.9% during the first quarter. Geneos Wealth Management Inc. now owns 181 shares of the company's stock worth $66,000 after buying an additional 90 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Everest Group in the 2nd quarter valued at $384,000. Marshall Wace LLP bought a new position in shares of Everest Group during the 2nd quarter worth about $238,000. Jump Financial LLC bought a new position in shares of Everest Group during the 2nd quarter worth about $1,510,000. Finally, Federated Hermes Inc. boosted its position in shares of Everest Group by 3.7% during the 2nd quarter. Federated Hermes Inc. now owns 14,411 shares of the company's stock valued at $4,898,000 after acquiring an additional 510 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Mizuho lowered their target price 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. UBS Group lifted their price objective on Everest Group from $374.00 to $395.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Weiss Ratings upgraded Everest Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, July 10th. Barclays increased their target price on Everest Group from $420.00 to $430.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. Finally, Atlantic Securities set a $484.00 target price on Everest Group in a research report on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $395.27.
Get Our Latest Report on Everest Group
Everest Group Stock Up 0.2%
Shares of NYSE EG opened at $378.25 on Friday. The firm's 50-day simple moving average is $370.37 and its 200 day simple moving average is $348.47. The company has a market cap of $14.50 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 0.74 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 12-month low of $302.44 and a 12-month high of $401.07.
Everest Group (NYSE:EG - Get Free Report) last announced 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. 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 the consensus estimate of $3.99 billion. During the same period in the previous year, the firm posted $16.10 earnings per share. The company's revenue was down 11.8% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, September 9th. Everest Group's payout ratio is 16.92%.
Everest Group Company Profile
(
Free Report)
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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