Everest Group (NYSE:EG) Sets New 1-Year High – Here’s Why

Everest Group, Ltd. (NYSE:EG)’s share price reached a new 52-week high on Friday . The company traded as high as $385.69 and last traded at $384.2480, with a volume of 30348 shares changing hands. The stock had previously closed at $373.22.

Wall Street Analyst Weigh In

EG has been the topic of several recent research reports. UBS Group set a $355.00 target price on Everest Group in a research report on Thursday, May 21st. Citigroup raised their price target on Everest Group from $342.00 to $395.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Bank of America lifted their price target on Everest Group from $430.00 to $454.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Wells Fargo & Company boosted their price objective on Everest Group from $356.00 to $373.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Finally, Morgan Stanley increased their price objective on Everest Group from $355.00 to $360.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Four analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $387.73.

Everest Group Stock Up 2.6%

The company has a debt-to-equity ratio of 0.23, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market cap of $15.15 billion, a PE ratio of 7.78, a price-to-earnings-growth ratio of 0.59 and a beta of 0.29. The company has a fifty day moving average price of $349.83 and a 200 day moving average price of $338.94.

Everest Group (NYSE:EG) last announced its earnings results on Monday, March 23rd. The company reported $16.08 earnings per share for the quarter. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. The business had revenue of $4.07 billion for the quarter. As a group, analysts anticipate that Everest Group, Ltd. will post 52.88 EPS for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.1%. Everest Group’s dividend payout ratio is presently 16.27%.

Insider Buying and Selling at Everest Group

In other news, CEO Jason Keen sold 775 shares of Everest Group stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $351.84, for a total transaction of $272,676.00. Following the completion of the sale, the chief executive officer directly owned 8,170 shares of the company’s stock, valued at approximately $2,874,532.80. The trade was a 8.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Everest Group

A number of large investors have recently added to or reduced their stakes in EG. Geneos Wealth Management Inc. raised its holdings in shares of Everest Group by 98.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock valued at $66,000 after buying an additional 90 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Everest Group in the second quarter worth approximately $384,000. Marshall Wace LLP bought a new position in Everest Group during the second quarter valued at approximately $238,000. Jump Financial LLC bought a new position in Everest Group during the second quarter valued at approximately $1,510,000. Finally, Federated Hermes Inc. raised its stake in shares of Everest Group by 3.7% during the second quarter. Federated Hermes Inc. now owns 14,411 shares of the company’s stock worth $4,898,000 after acquiring an additional 510 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

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.