Stoneridge Investment Partners LLC Makes New Investment in Everest Group, Ltd. $EG

Stoneridge Investment Partners LLC purchased a new position in Everest Group, Ltd. (NYSE:EG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,562 shares of the company’s stock, valued at approximately $584,000.

Other hedge funds also recently made changes to their positions in the company. Trifecta Capital Advisors LLC bought a new stake in shares of Everest Group during the 2nd quarter valued at $29,000. Activest Wealth Management bought a new position in Everest Group in the 4th quarter worth about $34,000. Raiffeisen Bank International AG bought a new position in Everest Group in the 4th quarter worth about $34,000. Cullen Frost Bankers Inc. purchased a new position in Everest Group during the 4th quarter valued at about $37,000. Finally, CYBER HORNET ETFs LLC purchased a new position in Everest Group during the 2nd quarter valued at about $39,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EG has been the topic of several analyst reports. Wells Fargo & Company upped their price target on Everest Group from $373.00 to $396.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Morgan Stanley raised their price objective on shares of Everest Group from $355.00 to $360.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Weiss Ratings raised shares of Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $411.00 to $414.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Finally, UBS Group increased their target price on shares of Everest Group from $374.00 to $395.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Four 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, the stock has an average rating of “Hold” and a consensus target price of $393.93.

Everest Group Price Performance

Everest Group stock opened at $369.91 on Friday. Everest Group, Ltd. has a 52 week low of $302.44 and a 52 week high of $401.07. The business has a 50-day simple moving average of $363.11 and a 200 day simple moving average of $345.40. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The stock has a market cap of $14.18 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 0.73 and a beta of 0.29.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, July 29th. The company reported $14.85 earnings per share for the quarter, topping analysts’ consensus estimates of $14.52 by $0.33. The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.99 billion. Everest Group had a return on equity of 13.63% and a net margin of 11.41%.The company’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $16.10 EPS. On average, research analysts forecast that Everest Group, Ltd. will post 53.13 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 9th. Everest Group’s dividend payout ratio is 16.92%.

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.