Everest Group, Ltd. (NYSE:EG) Given Average Recommendation of “Hold” by Brokerages

Everest Group, Ltd. (NYSE:EG) has earned an average recommendation of “Hold” from the seventeen brokerages that are presently covering the company, MarketBeat reports. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $373.7333.

Several equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Everest Group from $332.00 to $356.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Keefe, Bruyette & Woods increased their price target on Everest Group from $402.00 to $411.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a report on Friday, May 22nd. BMO Capital Markets increased their price target on Everest Group from $366.00 to $376.00 and gave the stock a “market perform” rating in a report on Thursday, May 14th. Finally, Bank of America increased their price target on Everest Group from $430.00 to $454.00 and gave the stock a “buy” rating in a report on Tuesday, April 14th.

Everest Group Stock Down 0.9%

Shares of Everest Group stock opened at $317.86 on Thursday. Everest Group has a 1 year low of $302.44 and a 1 year high of $368.29. The business has a 50-day moving average of $340.47 and a two-hundred day moving average of $331.78. The company has a market capitalization of $12.58 billion, a P/E ratio of 6.46, a price-to-earnings-growth ratio of 0.50 and a beta of 0.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.37 and a quick ratio of 0.37.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, March 23rd. The company reported $16.08 earnings per share (EPS) for the quarter. Everest Group had a return on equity of 14.70% and a net margin of 11.76%.The company had revenue of $4.07 billion during the quarter. As a group, equities analysts predict that Everest Group will post 52.62 EPS for the current year.

Everest Group Dividend Announcement

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

Insider Buying and Selling at Everest Group

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC boosted its position in shares of Everest Group by 70.1% during the first quarter. Parallel Advisors LLC now owns 767 shares of the company’s stock worth $251,000 after buying an additional 316 shares during the period. Summitry LLC acquired a new position in shares of Everest Group during the first quarter worth about $202,000. Bank of America Corp DE boosted its position in shares of Everest Group by 7.7% during the first quarter. Bank of America Corp DE now owns 233,326 shares of the company’s stock worth $76,263,000 after buying an additional 16,701 shares during the period. Edgestream Partners L.P. boosted its position in shares of Everest Group by 18.7% during the first quarter. Edgestream Partners L.P. now owns 23,149 shares of the company’s stock worth $7,566,000 after buying an additional 3,647 shares during the period. Finally, Strategic Investment Advisors MI boosted its position in shares of Everest Group by 73.8% during the first quarter. Strategic Investment Advisors MI now owns 3,717 shares of the company’s stock worth $1,212,000 after buying an additional 1,578 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

About Everest Group

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.