Man Group plc Purchases New Holdings in Everest Group, Ltd. $EG

Man Group plc acquired a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 29,039 shares of the company’s stock, valued at approximately $10,374,000.

A number of other hedge funds also recently modified their holdings of EG. Trifecta Capital Advisors LLC acquired a new stake in shares of Everest Group in the second quarter worth $29,000. Activest Wealth Management acquired a new position in Everest Group during the fourth quarter valued at $34,000. Raiffeisen Bank International AG purchased a new stake in Everest Group in the 4th quarter worth about $34,000. Cullen Frost Bankers Inc. purchased a new stake in Everest Group in the 4th quarter worth about $37,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in Everest Group during the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Atlantic Securities set a $484.00 target price on Everest Group in a research note on Wednesday, July 15th. Wells Fargo & Company increased their price target on shares of Everest Group from $373.00 to $396.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. BMO Capital Markets raised their price target on shares of Everest Group from $366.00 to $376.00 and gave the stock a “market perform” rating in a report on Thursday, May 14th. Citigroup boosted their price objective on shares of Everest Group from $395.00 to $415.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Finally, Cantor Fitzgerald upped their price objective on shares of Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Four analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Everest Group presently has an average rating of “Hold” and a consensus target price of $395.27.

Everest Group Stock Performance

Shares of EG stock opened at $378.25 on Friday. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $401.07. The stock’s 50-day moving average is $370.37 and its two-hundred day moving average is $348.47. 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 firm has a market cap of $14.50 billion, a P/E ratio of 8.00, a PEG ratio of 0.74 and a beta of 0.29.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, July 29th. The company reported $14.85 earnings per share for the quarter, beating analysts’ consensus estimates of $14.52 by $0.33. The business had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.99 billion. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. Everest Group’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $16.10 EPS. Analysts predict that Everest Group, Ltd. will post 53.28 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, September 9th. Everest Group’s dividend payout ratio (DPR) 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.