Northwestern Mutual Wealth Management Co. trimmed its holdings in shares of Everest Group, Ltd. (NYSE:EG – Free Report) by 43.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,301 shares of the company’s stock after selling 1,763 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Everest Group were worth $822,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of EG. Geneos Wealth Management Inc. increased 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 acquiring an additional 90 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Everest Group during the second quarter worth approximately $384,000. Marshall Wace LLP acquired a new position in Everest Group during the second quarter valued at approximately $238,000. Jump Financial LLC bought a new position in shares of Everest Group in the second quarter valued at approximately $1,510,000. Finally, Federated Hermes Inc. raised its position in shares of Everest Group by 3.7% in the second quarter. Federated Hermes Inc. now owns 14,411 shares of the company’s stock valued at $4,898,000 after purchasing an additional 510 shares during the period. 92.64% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
EG has been the topic of a number of research analyst reports. Mizuho lowered their target price on shares of Everest Group from $418.00 to $416.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Barclays raised their price target on Everest Group from $420.00 to $430.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Keefe, Bruyette & Woods lifted their price target on Everest Group from $411.00 to $414.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. TD Cowen increased their price objective on Everest Group from $365.00 to $385.00 and gave the company a “hold” rating in a research report on Wednesday, August 19th. Finally, Morgan Stanley boosted their target price on shares of Everest Group from $355.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, Everest Group currently has a consensus rating of “Hold” and an average target price of $395.27.
Everest Group Stock Performance
EG opened at $380.55 on Friday. The stock’s 50 day simple moving average is $373.81 and its 200-day simple moving average is $350.15. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The stock has a market cap of $14.59 billion, a PE ratio of 8.05, a P/E/G ratio of 0.75 and a beta of 0.28. Everest Group, Ltd. has a 1 year low of $302.44 and a 1 year high of $401.07.
Everest Group (NYSE:EG – Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $14.85 earnings per share for the quarter. The firm had revenue of $3.96 billion for the quarter. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. Sell-side analysts forecast that Everest Group, Ltd. will post 53.28 EPS for the current year.
Everest Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Everest Group’s dividend payout ratio is 16.92%.
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.
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