First Trust Advisors LP Boosts Stock Holdings in Everest Group, Ltd. $EG

First Trust Advisors LP boosted its position in Everest Group, Ltd. (NYSE:EG) by 103.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,949 shares of the company’s stock after purchasing an additional 61,955 shares during the period. First Trust Advisors LP owned about 0.31% of Everest Group worth $39,859,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in EG. Algebris UK Ltd. purchased a new stake in shares of Everest Group in the fourth quarter valued at approximately $23,460,000. M&T Bank Corp grew its holdings in Everest Group by 4,077.5% during the fourth quarter. M&T Bank Corp now owns 79,205 shares of the company’s stock worth $26,878,000 after acquiring an additional 77,309 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Everest Group by 12,322.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company’s stock worth $176,205,000 after acquiring an additional 515,063 shares in the last quarter. National Pension Service lifted its holdings in Everest Group by 13.2% in the fourth quarter. National Pension Service now owns 44,113 shares of the company’s stock valued at $14,970,000 after acquiring an additional 5,157 shares during the period. Finally, Perpetual Ltd lifted its holdings in Everest Group by 4.1% in the fourth quarter. Perpetual Ltd now owns 113,986 shares of the company’s stock valued at $38,681,000 after acquiring an additional 4,472 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Activity

In related news, CEO Jason Keen sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $351.84, for a total transaction of $272,676.00. Following the sale, the chief executive officer owned 8,170 shares in the company, valued at approximately $2,874,532.80. This trade represents a 8.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EG. Bank of America upped their price target on shares of Everest Group from $430.00 to $454.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Atlantic Securities set a $484.00 price objective on shares of Everest Group in a research note on Wednesday, July 15th. Mizuho boosted their price objective on shares of Everest Group from $388.00 to $418.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Evercore set a $375.00 target price on shares of Everest Group in a research report on Friday, July 10th. Finally, Wells Fargo & Company increased their target price on shares of Everest Group from $356.00 to $373.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $387.73.

Everest Group Stock Up 1.2%

Shares of NYSE:EG opened at $389.65 on Tuesday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $15.42 billion, a P/E ratio of 7.92, a P/E/G ratio of 0.60 and a beta of 0.29. Everest Group, Ltd. has a 52-week low of $302.44 and a 52-week high of $390.53. The stock’s fifty day simple moving average is $353.34 and its 200-day simple moving average is $340.69.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Monday, March 23rd. The company reported $16.08 EPS for the quarter. The firm had revenue of $4.07 billion during the quarter. Everest Group had a return on equity of 14.70% and a net margin of 11.76%. As a group, equities research analysts forecast that Everest Group, Ltd. will post 52.86 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, June 12th. Everest Group’s payout ratio is currently 16.27%.

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.