Everest Group (NYSE:EG) Trading 4.7% Higher – Still a Buy?
by Tristan Rich · The Markets DailyEverest Group, Ltd. (NYSE:EG – Get Free Report) shot up 4.7% during trading on Friday . The stock traded as high as $335.70 and last traded at $334.42. 518,795 shares were traded during mid-day trading, an increase of 43% from the average session volume of 363,634 shares. The stock had previously closed at $319.50.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. Wells Fargo & Company raised their price objective on Everest Group from $332.00 to $356.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Barclays increased their target price on shares of Everest Group from $377.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Citigroup raised their price target on shares of Everest Group from $342.00 to $395.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everest Group in a research note on Friday, May 22nd. Finally, UBS Group set a $355.00 price objective on shares of Everest Group in a report on Thursday, May 21st. Five equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $373.73.
Read Our Latest Research Report on EG
Everest Group Stock Up 4.7%
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 has a 50 day simple moving average of $340.38 and a 200-day simple moving average of $331.73. The firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of 6.80, a P/E/G ratio of 0.50 and a beta of 0.31.
Everest Group (NYSE:EG – Get Free Report) last announced its quarterly earnings results on Monday, March 23rd. The company reported $16.08 earnings per share for the quarter. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. The firm had revenue of $4.07 billion for the quarter. On average, equities analysts expect that Everest Group, Ltd. will post 52.62 EPS for the current year.
Everest Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, June 12th. Everest Group’s payout ratio is presently 16.27%.
Insider Buying and Selling at Everest Group
In other news, CEO Jason Keen sold 775 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $351.84, for a total value of $272,676.00. Following the completion of the sale, the chief executive officer owned 8,170 shares of the company’s stock, valued at $2,874,532.80. This represents a 8.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in Everest Group by 70.3% in the third quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock worth $695,275,000 after acquiring an additional 830,418 shares during the period. State Street Corp raised its position 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 purchasing an additional 7,806 shares during the period. Norges Bank acquired a new position in shares of Everest Group in the 4th quarter valued at $630,277,000. Vulcan Value Partners LLC lifted its stake in shares of Everest Group by 6.5% in the 4th quarter. Vulcan Value Partners LLC now owns 1,509,740 shares of the company’s stock valued at $512,288,000 after purchasing an additional 92,274 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Everest Group by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,170,210 shares of the company’s stock worth $395,671,000 after purchasing an additional 4,978 shares during the period. 92.64% of the stock is currently owned by institutional investors and hedge funds.
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.