Merit Financial Group LLC Decreases Position in Everest Group, Ltd. $EG

Merit Financial Group LLC cut its stake in shares of Everest Group, Ltd. (NYSE:EG) by 28.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,065 shares of the company’s stock after selling 1,613 shares during the period. Merit Financial Group LLC’s holdings in Everest Group were worth $1,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EG. Root Financial Partners LLC purchased a new stake in Everest Group during the third quarter valued at approximately $30,000. UMB Bank n.a. raised its position in Everest Group by 81.4% during the third quarter. UMB Bank n.a. now owns 107 shares of the company’s stock valued at $37,000 after purchasing an additional 48 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in Everest Group during the second quarter valued at approximately $39,000. MUFG Securities EMEA plc purchased a new stake in Everest Group during the second quarter valued at approximately $43,000. Finally, Brown Brothers Harriman & Co. raised its position in Everest Group by 57.6% during the third quarter. Brown Brothers Harriman & Co. now owns 134 shares of the company’s stock valued at $47,000 after purchasing an additional 49 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Mizuho upped their price objective on Everest Group from $360.00 to $365.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. Cantor Fitzgerald reduced their price target on Everest Group from $348.00 to $344.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. UBS Group reiterated a “buy” rating and issued a $345.00 price target on shares of Everest Group in a report on Monday, January 12th. Zacks Research upgraded Everest Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Finally, Wells Fargo & Company increased their price target on Everest Group from $304.00 to $332.00 and gave the stock an “equal weight” rating in a report on Thursday, April 16th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $366.14.

Everest Group Trading Down 1.3%

Shares of NYSE EG opened at $345.13 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.39 and a current ratio of 0.39. The business’s 50 day moving average price is $332.47 and its 200-day moving average price is $329.97. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $368.29. The company has a market cap of $17.17 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 0.26 and a beta of 0.34.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Thursday, February 5th. The company reported $13.26 earnings per share for the quarter, missing the consensus estimate of $13.36 by ($0.10). Everest Group had a return on equity of 12.50% and a net margin of 9.09%.The business had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the previous year, the company posted ($18.39) earnings per share. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, sell-side analysts expect that Everest Group, Ltd. will post 52.99 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, March 13th. Everest Group’s dividend payout ratio is presently 21.13%.

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.