Northwestern Mutual Wealth Management Co. Purchases New Stake in Everest Group, Ltd. $EG

Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Everest Group, Ltd. (NYSE:EG) during the second quarter, HoldingsChannel reports. The institutional investor purchased 2,301 shares of the company’s stock, valued at approximately $822,000.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Everest Group in the 2nd quarter valued at $1,150,555,000. Norges Bank purchased a new position in Everest Group in the fourth quarter valued at about $630,277,000. AQR Capital Management LLC lifted its stake in shares of Everest Group by 70.3% during 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 in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Everest Group during the second quarter worth about $171,426,000. Finally, Donald Smith & CO. Inc. purchased a new stake in shares of Everest Group in the second quarter worth about $153,206,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on EG. Weiss Ratings upgraded Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. TD Cowen upped their price target on Everest Group from $365.00 to $385.00 and gave the stock a “hold” rating in a report on Wednesday, August 19th. Mizuho lowered their price objective on shares of Everest Group from $418.00 to $416.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. BMO Capital Markets increased their price objective on shares of Everest Group from $366.00 to $376.00 and gave the company a “market perform” rating in a research report on Thursday, May 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Everest Group from $411.00 to $414.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Four analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $395.27.

Everest Group Stock Down 0.2%

Shares of Everest Group stock opened at $376.01 on Wednesday. The business has a 50-day moving average of $367.85 and a 200-day moving average of $347.54. 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 company has a market capitalization of $14.42 billion, a PE ratio of 7.95, a P/E/G ratio of 0.74 and a beta of 0.29. Everest Group, Ltd. has a 1-year low of $302.44 and a 1-year high of $401.07.

Everest Group (NYSE:EG) last released its quarterly earnings results on Wednesday, July 29th. The company reported $14.85 EPS 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 company’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $16.10 earnings per share. As a group, equities analysts forecast that Everest Group, Ltd. will post 53.28 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Wednesday, September 9th. This represents a $8.00 annualized dividend and a yield of 2.1%. Everest Group’s payout ratio is currently 16.92%.

About Everest Group

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.