Commerce Bank Buys New Position in Everest Group, Ltd. $EG

Commerce Bank bought a new stake in Everest Group, Ltd. (NYSE:EG) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 2,528 shares of the company’s stock, valued at approximately $903,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its holdings in shares of Everest Group by 98.9% in the first quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock valued at $66,000 after purchasing an additional 90 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Everest Group during the 2nd quarter worth approximately $384,000. Marshall Wace LLP purchased a new position in Everest Group in the 2nd quarter valued at approximately $238,000. Jump Financial LLC purchased a new position in Everest Group in the 2nd quarter valued at approximately $1,510,000. Finally, Federated Hermes Inc. boosted its position in Everest Group by 3.7% in the 2nd quarter. Federated Hermes Inc. now owns 14,411 shares of the company’s stock valued at $4,898,000 after buying an additional 510 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on Everest Group from $373.00 to $396.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. TD Cowen lifted their target price on Everest Group from $365.00 to $385.00 and gave the company a “hold” rating in a report on Wednesday, August 19th. BMO Capital Markets boosted their target price on Everest Group from $366.00 to $376.00 and gave the stock a “market perform” rating in a research note on Thursday, May 14th. Morgan Stanley upped their price target on Everest Group from $355.00 to $360.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Finally, Evercore set a $377.00 price target on Everest Group in a report on Thursday, July 30th. Four analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $395.27.

Everest Group Trading Up 1.2%

Shares of NYSE:EG opened at $380.04 on Thursday. Everest Group, Ltd. has a 52 week low of $302.44 and a 52 week high of $401.07. The company’s 50 day moving average is $368.71 and its two-hundred day moving average is $347.92. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The company has a market cap of $14.57 billion, a PE ratio of 8.04, a P/E/G ratio of 0.74 and a beta of 0.29.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $14.85 earnings per share for the quarter, beating analysts’ consensus estimates of $14.52 by $0.33. The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.99 billion. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The company’s revenue was down 11.8% on a year-over-year basis. During the same period last year, the business earned $16.10 EPS. Equities analysts predict that Everest Group, Ltd. will post 53.28 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be paid a $2.00 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $8.00 dividend on an annualized basis and a yield of 2.1%. Everest Group’s dividend payout ratio (DPR) is currently 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.