Bank of Nova Scotia Trims Stake in Everest Group, Ltd. $EG

Bank of Nova Scotia lowered its stake in shares of Everest Group, Ltd. (NYSE:EG) by 51.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,576 shares of the company’s stock after selling 26,835 shares during the quarter. Bank of Nova Scotia owned 0.06% of Everest Group worth $8,360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. increased its holdings in shares of Everest Group by 98.9% in the first quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock worth $66,000 after buying an additional 90 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Everest Group in the second quarter worth $384,000. Marshall Wace LLP bought a new stake in Everest Group in the 2nd quarter worth $238,000. Jump Financial LLC purchased a new position in shares of Everest Group in the second quarter valued at about $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 valued at $4,898,000 after acquiring an additional 510 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EG has been the topic of several research analyst reports. UBS Group set a $355.00 price target on shares of Everest Group in a research report on Thursday, May 21st. Wells Fargo & Company boosted their target price on shares of Everest Group from $356.00 to $373.00 and gave the company an “equal weight” rating in a report on Thursday, July 9th. Citigroup upped their price objective on shares of Everest Group from $342.00 to $395.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Cantor Fitzgerald lifted their target price on shares of Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Morgan Stanley boosted their target price 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 equities 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, Everest Group currently has an average rating of “Hold” and a consensus price target of $387.73.

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 in the company, valued at approximately $2,874,532.80. The trade was a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

Everest Group Stock Performance

NYSE EG opened at $385.50 on Monday. 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 stock has a market capitalization of $15.25 billion, a PE ratio of 7.84, a P/E/G ratio of 0.60 and a beta of 0.29. Everest Group, Ltd. has a 1-year low of $302.44 and a 1-year high of $386.87. The business has a 50 day simple moving average of $352.67 and a two-hundred day simple moving average of $340.29.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Monday, March 23rd. The company reported $16.08 EPS for the quarter. The company had revenue of $4.07 billion during the quarter. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. On average, research analysts predict that Everest Group, Ltd. will post 52.86 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, June 12th. Everest Group’s dividend payout ratio is currently 16.27%.

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.