Meeder Advisory Services Inc. Buys Shares of 1,899 Everest Group, Ltd. $EG

Meeder Advisory Services Inc. acquired a new position in Everest Group, Ltd. (NYSE:EG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,899 shares of the company’s stock, valued at approximately $678,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EG. Geneos Wealth Management Inc. raised its stake in shares of Everest Group by 98.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock valued at $66,000 after acquiring an additional 90 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Everest Group in the 2nd quarter worth approximately $384,000. Marshall Wace LLP bought a new stake in Everest Group during the second quarter worth approximately $238,000. Jump Financial LLC bought a new stake in Everest Group during the second quarter worth approximately $1,510,000. Finally, Federated Hermes Inc. grew its holdings in Everest Group by 3.7% during the second quarter. Federated Hermes Inc. now owns 14,411 shares of the company’s stock valued at $4,898,000 after purchasing an additional 510 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of NYSE:EG opened at $368.89 on Friday. The business’s fifty day moving average price is $365.72 and its two-hundred day moving average price is $346.63. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $401.07. The stock has a market capitalization of $14.14 billion, a price-to-earnings ratio of 7.80, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35.

Everest Group (NYSE:EG) last issued 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. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the firm earned $16.10 earnings per share. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. As a group, analysts predict that Everest Group, Ltd. will post 52.83 EPS for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.2%. The ex-dividend date is Wednesday, September 9th. Everest Group’s dividend payout ratio is currently 16.92%.

Analyst Ratings Changes

A number of research firms have weighed in on EG. TD Cowen boosted their target price on shares of Everest Group from $365.00 to $385.00 and gave the stock a “hold” rating in a research report on Wednesday. Mizuho lowered their price target on Everest Group from $418.00 to $416.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Citigroup raised their price target on Everest Group from $395.00 to $415.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Evercore set a $377.00 price objective on Everest Group in a research note on Thursday, July 30th. Finally, UBS Group boosted their price objective on Everest Group from $374.00 to $395.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, Everest Group currently has a consensus rating of “Hold” and an average target price of $395.27.

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.