Commerzbank Aktiengesellschaft FI Acquires Shares of 3,393 Everest Group, Ltd. $EG

Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,393 shares of the company’s stock, valued at approximately $1,212,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in Everest Group by 70.3% in the 3rd quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock valued at $695,275,000 after acquiring an additional 830,418 shares in the last quarter. State Street Corp increased its holdings in Everest Group by 0.4% during the 4th quarter. State Street Corp now owns 1,906,692 shares of the company’s stock worth $647,036,000 after purchasing an additional 7,806 shares in the last quarter. Norges Bank bought a new stake in Everest Group during the 4th quarter worth approximately $630,277,000. Vulcan Value Partners LLC raised its stake in shares of Everest Group by 6.5% in the fourth quarter. Vulcan Value Partners LLC now owns 1,509,740 shares of the company’s stock worth $512,288,000 after purchasing an additional 92,274 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Everest Group by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,170,210 shares of the company’s stock worth $395,671,000 after purchasing an additional 4,978 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on EG. Atlantic Securities set a $484.00 target price on Everest Group in a research report on Wednesday, July 15th. BMO Capital Markets increased 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. Wells Fargo & Company raised their price objective on Everest Group from $373.00 to $396.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Mizuho cut their price objective on shares of Everest Group from $418.00 to $416.00 and set a “neutral” rating on the stock in a report on Friday, July 31st. Finally, Cantor Fitzgerald increased their target price on shares of Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $393.93.

Everest Group Stock Performance

Shares of EG opened at $367.83 on Wednesday. The stock has a 50 day moving average of $364.51 and a 200 day moving average of $346.12. The company has a market capitalization of $14.10 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 0.73 and a beta of 0.29. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $401.07. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $14.85 earnings per share for the quarter, topping the consensus estimate of $14.52 by $0.33. The business had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Everest Group had a return on equity of 13.63% and a net margin of 11.41%.The business’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $16.10 earnings per share. As a group, sell-side analysts forecast that Everest Group, Ltd. will post 53.13 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Wednesday, September 9th. Everest Group’s payout ratio is presently 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.