South Dakota Investment Council Increases Stock Holdings in Everest Group, Ltd. $EG

South Dakota Investment Council boosted its stake in Everest Group, Ltd. (NYSE:EG) by 8.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 101,931 shares of the company’s stock after purchasing an additional 8,170 shares during the quarter. Everest Group makes up 0.6% of South Dakota Investment Council’s portfolio, making the stock its 22nd biggest holding. South Dakota Investment Council’s holdings in Everest Group were worth $33,316,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in Everest Group by 98.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock worth $66,000 after purchasing an additional 90 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Everest Group during the 2nd quarter valued at about $384,000. Marshall Wace LLP bought a new stake in shares of Everest Group during the 2nd quarter valued at about $238,000. Jump Financial LLC purchased a new position in shares of Everest Group during the second quarter valued at about $1,510,000. Finally, Federated Hermes Inc. increased its position in shares of Everest Group by 3.7% during the second quarter. Federated Hermes Inc. now owns 14,411 shares of the company’s stock valued at $4,898,000 after buying an additional 510 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on EG. Evercore set a $375.00 price objective on shares of Everest Group in a report on Friday, July 10th. Wells Fargo & Company upped their target price on Everest Group from $356.00 to $373.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Barclays increased their target price on Everest Group from $380.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Cantor Fitzgerald raised their target price on Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, BMO Capital Markets lifted their price target 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. Four research 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 company has an average rating of “Hold” and an average price target of $387.73.

Insider Buying and Selling

In other 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 value of $272,676.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Everest Group Price Performance

Shares of NYSE EG opened at $393.95 on Thursday. The company has a 50 day simple moving average of $354.90 and a two-hundred day simple moving average of $341.56. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $401.07. The company has a market capitalization of $15.59 billion, a price-to-earnings ratio of 8.01, a P/E/G ratio of 0.62 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.37 and a current ratio of 0.37.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $14.85 EPS for the quarter, topping analysts’ consensus estimates of $14.52 by $0.33. The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Everest Group had a return on equity of 14.70% and a net margin of 11.76%.The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $16.10 EPS. Analysts expect that Everest Group, Ltd. will post 52.86 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, June 12th. Everest Group’s payout ratio is 16.27%.

Everest Group 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.