Everest Group (NYSE:EG) Hits New 12-Month High – Here’s What Happened
by Tristan Rich · The Markets DailyShares of Everest Group, Ltd. (NYSE:EG – Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $371.12 and last traded at $371.5510, with a volume of 245508 shares traded. The stock had previously closed at $359.93.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on EG shares. Barclays boosted their target price on shares of Everest Group from $377.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. BMO Capital Markets raised their target price on Everest Group from $366.00 to $376.00 and gave the company a “market perform” rating in a research report on Thursday, May 14th. Citigroup boosted their price target on shares of Everest Group from $342.00 to $395.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Keefe, Bruyette & Woods increased their price target on shares of Everest Group from $402.00 to $411.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company raised their price objective on shares of Everest Group from $332.00 to $356.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $370.07.
Check Out Our Latest Analysis on Everest Group
Everest Group Stock Performance
The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.37 and a current ratio of 0.37. The business’s 50-day moving average is $344.08 and its 200 day moving average is $335.59. The company has a market cap of $14.70 billion, a PE ratio of 7.56, a PEG ratio of 0.55 and a beta of 0.29.
Everest Group (NYSE:EG – Get Free Report) last released its quarterly earnings data on Monday, March 23rd. The company reported $16.08 earnings per share (EPS) for the quarter. The firm had revenue of $4.07 billion for the quarter. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. On average, equities research analysts predict that Everest Group, Ltd. will post 52.79 EPS for the current fiscal year.
Everest Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, June 12th. Everest Group’s dividend payout ratio is currently 16.27%.
Insiders Place Their Bets
In related news, CEO Jason Keen sold 775 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $351.84, for a total transaction of $272,676.00. Following the sale, the chief executive officer directly owned 8,170 shares of the company’s stock, valued at $2,874,532.80. This trade represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Everest Group
A number of large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Everest Group in the 4th quarter worth $630,277,000. AQR Capital Management LLC grew its holdings in Everest Group by 70.3% during the 3rd quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock valued at $695,275,000 after buying an additional 830,418 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Everest Group by 12,322.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company’s stock worth $176,205,000 after buying an additional 515,063 shares in the last quarter. Hsbc Holdings PLC increased 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 valued at $147,102,000 after acquiring an additional 375,846 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Everest Group by 181.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 498,697 shares of the company’s stock valued at $169,233,000 after purchasing an additional 321,376 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.
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.