Norges Bank Invests $630.28 Million in Everest Group, Ltd. $EG

Norges Bank purchased a new position in Everest Group, Ltd. (NYSE:EG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,857,307 shares of the company’s stock, valued at approximately $630,277,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in EG. Geneos Wealth Management Inc. raised its position in shares of Everest Group by 98.9% in the first quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock worth $66,000 after buying an additional 90 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Everest Group in the second quarter worth $384,000. Marshall Wace LLP purchased a new stake in shares of Everest Group in the second quarter worth $238,000. Jump Financial LLC purchased a new stake in shares of Everest Group in the second quarter worth $1,510,000. Finally, Federated Hermes Inc. raised its position in shares of Everest Group by 3.7% in the second quarter. Federated Hermes Inc. now owns 14,411 shares of the company’s stock worth $4,898,000 after buying an additional 510 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on EG shares. Bank of America raised their target price on shares of Everest Group from $430.00 to $454.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Barclays raised their target price on shares of Everest Group from $377.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Citigroup raised their target price on shares of Everest Group from $342.00 to $395.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everest Group in a research note on Friday, May 22nd. Finally, BMO Capital Markets raised 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. Five investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Everest Group currently has a consensus rating of “Hold” and a consensus target price of $373.73.

Everest Group Stock Performance

Shares of NYSE EG opened at $323.94 on Monday. The stock has a market cap of $12.82 billion, a price-to-earnings ratio of 6.59, a P/E/G ratio of 0.51 and a beta of 0.31. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.23. Everest Group, Ltd. has a 1-year low of $302.44 and a 1-year high of $368.29. The stock’s 50-day moving average is $340.31 and its 200 day moving average is $331.86.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Monday, March 23rd. The company reported $16.08 earnings per share for the quarter. The company had revenue of $4.07 billion for the quarter. Everest Group had a return on equity of 14.70% and a net margin of 11.76%. On average, sell-side analysts anticipate that Everest Group, Ltd. will post 52.62 EPS for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, June 12th. Everest Group’s dividend payout ratio (DPR) is currently 16.27%.

Insider Buying and Selling at Everest Group

In other news, CEO Jason Keen sold 775 shares of Everest Group stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $351.84, for a total value of $272,676.00. Following the transaction, the chief executive officer owned 8,170 shares in the company, valued at approximately $2,874,532.80. The trade was a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

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.