OMERS ADMINISTRATION Corp Makes New $4.75 Million Investment in Everest Group, Ltd. $EG

OMERS ADMINISTRATION Corp acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,311 shares of the company’s stock, valued at approximately $4,755,000.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Everest Group in the 2nd quarter worth about $1,150,555,000. Norges Bank bought a new stake in Everest Group during the fourth quarter worth about $630,277,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Everest Group during the second quarter worth about $350,718,000. AQR Capital Management LLC grew its holdings in Everest Group by 70.3% in the third quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock worth $695,275,000 after purchasing an additional 830,418 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings 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 purchasing an additional 515,063 shares during the period. Institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

Shares of EG opened at $376.64 on Tuesday. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $401.07. The firm has a market capitalization of $14.44 billion, a P/E ratio of 7.96, a PEG ratio of 0.73 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. The business has a fifty day moving average of $367.10 and a 200 day moving average of $347.23.

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 quarter in the prior year, the business earned $16.10 EPS. The business’s quarterly revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Everest Group, Ltd. will post 52.91 EPS for the current year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Everest Group’s payout ratio is currently 16.92%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EG. Cantor Fitzgerald lifted 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. Wells Fargo & Company upped their price target on Everest Group from $373.00 to $396.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Weiss Ratings raised Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Morgan Stanley lifted their price objective on Everest Group from $355.00 to $360.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Finally, UBS Group boosted their target price on Everest Group from $374.00 to $395.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. 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, Everest Group currently has a consensus rating of “Hold” and an average target price of $395.27.

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.