Everest Group (NYSE:EG) Sets New 12-Month High After Analyst Upgrade

Everest Group, Ltd. (NYSE:EG) hit a new 52-week high during trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $356.00 to $373.00. Wells Fargo & Company currently has an equal weight rating on the stock. Everest Group traded as high as $379.22 and last traded at $373.7080, with a volume of 307711 shares trading hands. The stock had previously closed at $372.93.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets raised their price target on Everest Group from $366.00 to $376.00 and gave the stock a “market perform” rating in a research note on Thursday, May 14th. Barclays boosted their price target on Everest Group from $380.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods raised their price objective on shares of Everest Group from $411.00 to $414.00 and gave the company an “outperform” rating in a research report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a research note on Friday, May 22nd. Finally, Citigroup boosted their target price on shares of Everest Group from $342.00 to $395.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $380.14.

Insider Activity

In related news, CEO Jason Keen sold 775 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $351.84, for a total transaction of $272,676.00. Following the completion of the sale, the chief executive officer directly owned 8,170 shares of the company’s stock, valued at approximately $2,874,532.80. This represents a 8.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Everest Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allied Private Wealth LLC bought a new position in shares of Everest Group in the second quarter worth about $1,238,000. Polianta Ltd bought a new stake in Everest Group during the 2nd quarter valued at approximately $2,000,000. Palouse Capital Management Inc. grew its holdings in Everest Group by 5.6% in the 2nd quarter. Palouse Capital Management Inc. now owns 5,638 shares of the company’s stock valued at $2,014,000 after buying an additional 298 shares during the last quarter. Czech National Bank increased its position in Everest Group by 1.6% in the 2nd quarter. Czech National Bank now owns 11,264 shares of the company’s stock worth $4,024,000 after buying an additional 180 shares during the period. Finally, GAMMA Investing LLC increased its position in Everest Group by 46.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,730 shares of the company’s stock worth $618,000 after buying an additional 545 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Trading Down 0.1%

The company has a market capitalization of $14.67 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 0.57 and a beta of 0.29. The business has a fifty day moving average price of $347.13 and a 200 day moving average price of $337.40. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.37 and a quick ratio of 0.37.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, March 23rd. The company reported $16.08 earnings per share (EPS) for the quarter. The business 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 analysts expect that Everest Group, Ltd. will post 52.77 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, June 12th. Everest Group’s dividend payout ratio (DPR) is currently 16.27%.

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.