Everest Group (NYSE:EG) Upgraded at Zacks Research

Zacks Research upgraded shares of Everest Group (NYSE:EG) from a strong sell rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

Other research analysts also recently issued reports about the company. Wolfe Research raised Everest Group from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 29th. UBS Group reaffirmed a “buy” rating and set a $345.00 target price on shares of Everest Group in a report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Everest Group in a research note on Wednesday, October 8th. Wells Fargo & Company lowered their price target on shares of Everest Group from $343.00 to $332.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $350.00 price objective on shares of Everest Group in a report on Monday, November 3rd. Six research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $365.33.

Everest Group Stock Up 1.9%

Shares of EG opened at $325.90 on Monday. The firm has a market cap of $13.68 billion, a P/E ratio of 24.82, a PEG ratio of 0.23 and a beta of 0.38. Everest Group has a 12 month low of $302.44 and a 12 month high of $373.23. The stock’s 50 day moving average is $324.66 and its two-hundred day moving average is $333.84. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Monday, October 27th. The company reported $7.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $13.39 by ($5.85). The company had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $3.86 billion. Everest Group had a net margin of 3.12% and a return on equity of 3.74%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $11.80 earnings per share. Analysts predict that Everest Group will post 47.93 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Wednesday, November 26th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, November 26th. Everest Group’s payout ratio is 60.93%.

Insider Activity

In related news, Director Allan Levine bought 3,100 shares of the stock in a transaction on Wednesday, October 29th. The stock was bought at an average price of $306.08 per share, with a total value of $948,848.00. Following the completion of the purchase, the director directly owned 4,153 shares in the company, valued at $1,271,150.24. This represents a 294.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William F. Galtney, Jr. purchased 11,385 shares of Everest Group stock in a transaction dated Wednesday, October 29th. The stock was bought at an average cost of $307.38 per share, for a total transaction of $3,499,521.30. Following the completion of the purchase, the director directly owned 45,491 shares in the company, valued at approximately $13,983,023.58. This trade represents a 33.38% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new stake in shares of Everest Group in the third quarter valued at $30,000. Board of the Pension Protection Fund acquired a new position in Everest Group in the 2nd quarter valued at about $34,000. UMB Bank n.a. increased its stake in Everest Group by 81.4% during the third quarter. UMB Bank n.a. now owns 107 shares of the company’s stock worth $37,000 after purchasing an additional 48 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in Everest Group during the second quarter worth about $39,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Everest Group during the second quarter worth about $43,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

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.