Great Lakes Advisors LLC Purchases Shares of 10,771 Everest Group, Ltd. $EG

Great Lakes Advisors LLC bought a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the 2nd quarter, HoldingsChannel reports. The firm bought 10,771 shares of the company’s stock, valued at approximately $3,848,000.

Several other hedge funds have also recently added to or reduced their stakes in EG. BlackRock Inc. bought a new stake in shares of Everest Group during the 2nd quarter worth $1,150,555,000. Norges Bank acquired a new position in shares of Everest Group in the 4th quarter valued at $630,277,000. AQR Capital Management LLC increased its stake in Everest Group by 70.3% in 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. raised its holdings 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 buying an additional 515,063 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in shares of Everest Group by 507.4% in the first quarter. Hsbc Holdings PLC now owns 449,919 shares of the company’s stock worth $147,102,000 after buying an additional 375,846 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

Everest Group Trading Up 1.4%

Shares of NYSE:EG opened at $368.89 on Friday. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $401.07. The stock has a market capitalization of $14.14 billion, a PE ratio of 7.80, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35. The company’s 50-day moving average price is $365.72 and its two-hundred day moving average price is $346.63.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $14.85 earnings per share for the quarter, beating the consensus estimate of $14.52 by $0.33. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the firm earned $16.10 earnings per share. The company’s revenue was down 11.8% on a year-over-year basis. On average, equities analysts forecast that Everest Group, Ltd. will post 52.83 EPS for the current fiscal year.

Everest Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EG. 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 report on Monday, August 3rd. Barclays lifted their price objective on Everest Group from $420.00 to $430.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Cantor Fitzgerald lifted their price target on Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Mizuho cut their price objective on shares of Everest Group from $418.00 to $416.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Finally, Keefe, Bruyette & Woods increased their price target on shares of Everest Group from $411.00 to $414.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Four equities 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, Everest Group presently has a consensus rating of “Hold” and a consensus price target of $395.27.

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.