JPMorgan Chase & Co. Has $29.48 Million Stake in Everest Group, Ltd. $EG

JPMorgan Chase & Co. trimmed its position in Everest Group, Ltd. (NYSE:EG) by 32.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,158 shares of the company’s stock after selling 39,637 shares during the period. JPMorgan Chase & Co. owned approximately 0.20% of Everest Group worth $29,478,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of EG. AQR Capital Management LLC grew its holdings 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 buying an additional 830,418 shares in the last quarter. Norges Bank bought a new stake in Everest Group in the 2nd quarter valued at approximately $601,300,000. Vulcan Value Partners LLC lifted its stake in Everest Group by 13.9% in the 3rd quarter. Vulcan Value Partners LLC now owns 1,417,466 shares of the company’s stock valued at $496,514,000 after acquiring an additional 172,479 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Everest Group by 6.1% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 999,581 shares of the company’s stock worth $350,083,000 after acquiring an additional 57,907 shares during the last quarter. Finally, Altrinsic Global Advisors LLC grew its stake in shares of Everest Group by 37.2% during the 2nd quarter. Altrinsic Global Advisors LLC now owns 937,296 shares of the company’s stock worth $318,540,000 after acquiring an additional 254,317 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group restated a “buy” rating and set a $345.00 target price on shares of Everest Group in a report on Monday, January 12th. Keefe, Bruyette & Woods lifted their price target on shares of Everest Group from $400.00 to $430.00 and gave the company an “outperform” rating in a research note on Tuesday, January 6th. Zacks Research raised shares of Everest Group from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Wells Fargo & Company reduced their price objective on shares of Everest Group from $332.00 to $310.00 and set an “equal weight” rating for the company in a research note on Friday, February 6th. Finally, Cantor Fitzgerald decreased their price objective on Everest Group from $348.00 to $344.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Everest Group currently has an average rating of “Hold” and an average target price of $363.21.

Everest Group Stock Up 0.1%

Shares of EG stock opened at $316.26 on Monday. 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 firm’s 50-day moving average is $329.10 and its 200-day moving average is $331.54. The stock has a market cap of $12.77 billion, a price-to-earnings ratio of 8.35, a PEG ratio of 0.23 and a beta of 0.34. Everest Group, Ltd. has a 52-week low of $302.44 and a 52-week high of $370.20.

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

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, March 13th. Everest Group’s payout ratio is currently 21.13%.

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.