Everest Group (NYSE:EG) Given New $356.00 Price Target at Wells Fargo & Company

Everest Group (NYSE:EG) had its target price hoisted by Wells Fargo & Company from $332.00 to $356.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts also recently issued research reports about the stock. Cantor Fitzgerald cut their price objective on shares of Everest Group from $348.00 to $344.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Keefe, Bruyette & Woods cut their price target on shares of Everest Group from $430.00 to $402.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Zacks Research raised shares of Everest Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Mizuho upped their price target on shares of Everest Group from $360.00 to $365.00 and gave the stock a “neutral” rating in a report on Monday, April 13th. Finally, Bank of America upped their price target on shares of Everest Group from $430.00 to $454.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th. Five research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Everest Group has an average rating of “Hold” and a consensus target price of $370.57.

Everest Group Stock Performance

NYSE EG opened at $352.40 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $17.53 billion, a P/E ratio of 7.17, a P/E/G ratio of 0.26 and a beta of 0.35. Everest Group has a 12-month low of $302.44 and a 12-month high of $368.29. The firm has a 50-day moving average price of $333.71 and a two-hundred day moving average price of $329.52.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $16.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $13.97 by $2.11. The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.17 billion. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.45 EPS. Analysts anticipate that Everest Group will post 52.98 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, March 13th. Everest Group’s dividend payout ratio is currently 16.27%.

Hedge Funds Weigh In On Everest Group

A number of institutional investors have recently added to or reduced their stakes in EG. Norges Bank acquired a new position in Everest Group during the 4th quarter worth approximately $630,277,000. AQR Capital Management LLC increased its position 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 worth $695,275,000 after purchasing an additional 830,418 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Everest Group by 12,322.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company’s stock worth $176,205,000 after purchasing an additional 515,063 shares in the last quarter. Hsbc Holdings PLC increased its position in Everest Group by 507.4% during the 1st quarter. Hsbc Holdings PLC now owns 449,919 shares of the company’s stock worth $147,102,000 after purchasing an additional 375,846 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its position in Everest Group by 181.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 498,697 shares of the company’s stock worth $169,233,000 after purchasing an additional 321,376 shares in the last quarter. 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.