Bank of Nova Scotia Grows Stock Holdings in Everest Group, Ltd. $EG

Bank of Nova Scotia boosted its stake in Everest Group, Ltd. (NYSE:EG) by 272.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,889 shares of the company’s stock after acquiring an additional 46,002 shares during the period. Bank of Nova Scotia owned 0.15% of Everest Group worth $22,026,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EG. Alliancebernstein L.P. lifted its position in Everest Group by 157.5% during the 3rd quarter. Alliancebernstein L.P. now owns 291,886 shares of the company’s stock worth $102,227,000 after acquiring an additional 178,536 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings in shares of Everest Group by 10.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 15,029 shares of the company’s stock valued at $5,264,000 after purchasing an additional 1,407 shares during the period. Creative Planning raised its stake in shares of Everest Group by 248.4% during the third quarter. Creative Planning now owns 17,046 shares of the company’s stock worth $5,970,000 after purchasing an additional 12,154 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of Everest Group by 1,521.5% during the third quarter. Lazard Asset Management LLC now owns 58,424 shares of the company’s stock worth $20,462,000 after purchasing an additional 54,821 shares during the last quarter. Finally, SummitTX Capital L.P. acquired a new stake in shares of Everest Group during the third quarter worth $921,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Trading Up 0.1%

NYSE:EG opened at $320.59 on Tuesday. Everest Group, Ltd. has a 1 year low of $302.44 and a 1 year high of $370.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a fifty day moving average price of $330.30 and a two-hundred day moving average price of $332.27. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 0.23 and a beta of 0.34.

Everest Group (NYSE:EG) last issued its earnings results on Wednesday, February 4th. The company reported $13.26 EPS for the quarter, missing the consensus estimate of $13.36 by ($0.10). Everest Group had a return on equity of 12.50% and a net margin of 9.09%.The company had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $3.97 billion. During the same quarter in the previous year, the firm posted ($18.39) earnings per share. Everest Group’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a $2.00 dividend. The ex-dividend date is Friday, March 13th. This represents a $8.00 annualized dividend and a dividend yield of 2.5%. Everest Group’s dividend payout ratio (DPR) is 21.13%.

Analyst Upgrades and Downgrades

EG has been the topic of a number of analyst reports. TD Cowen lowered their price objective on shares of Everest Group from $400.00 to $365.00 and set a “hold” rating on the stock in a research report on Monday, December 15th. Zacks Research upgraded shares of Everest Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Barclays raised their target price on shares of Everest Group from $365.00 to $377.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Wells Fargo & Company dropped their price target on shares of Everest Group from $332.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Friday, February 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Everest Group in a report on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Everest Group has an average rating of “Hold” and an average price target of $363.21.

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.