Mitsubishi UFJ Asset Management Co. Ltd. Buys New Stake in Everest Group, Ltd. $EG

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Everest Group, Ltd. (NYSE:EGFree Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 97,079 shares of the company’s stock, valued at approximately $34,680,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.25% of Everest Group at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Siemens Fonds Invest GmbH lifted its stake in shares of Everest Group by 3.3% during the fourth quarter. Siemens Fonds Invest GmbH now owns 1,067 shares of the company’s stock worth $364,000 after purchasing an additional 34 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Everest Group by 4.0% during the 1st quarter. V Square Quantitative Management LLC now owns 968 shares of the company’s stock valued at $316,000 after buying an additional 37 shares during the period. Brown Brothers Harriman & Co. lifted its position in Everest Group by 27.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 171 shares of the company’s stock worth $58,000 after acquiring an additional 37 shares in the last quarter. GenTrust LLC boosted its holdings in Everest Group by 4.8% in the 4th quarter. GenTrust LLC now owns 874 shares of the company’s stock worth $297,000 after acquiring an additional 40 shares during the period. Finally, Tred Avon Family Wealth LLC grew its position in Everest Group by 6.5% in the first quarter. Tred Avon Family Wealth LLC now owns 657 shares of the company’s stock valued at $215,000 after acquiring an additional 40 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Everest Group from $355.00 to $360.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Cantor Fitzgerald upped their target price on shares of Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Weiss Ratings raised shares of Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods lifted their price target on shares of Everest Group from $411.00 to $414.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Finally, UBS Group boosted their price objective on shares of Everest Group from $374.00 to $395.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, Everest Group currently has an average rating of “Hold” and a consensus target price of $395.27.

Check Out Our Latest Stock Report on EG

Everest Group Stock Performance

Shares of EG opened at $364.41 on Thursday. The firm has a market cap of $13.97 billion, a price-to-earnings ratio of 7.71, a PEG ratio of 0.72 and a beta of 0.29. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $365.07 and its two-hundred day moving average is $346.37. Everest Group, Ltd. has a 52-week low of $302.44 and a 52-week high of $401.07.

Everest Group (NYSE:EGGet Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $14.85 earnings per share for the quarter, topping analysts’ consensus estimates of $14.52 by $0.33. The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.99 billion. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $16.10 earnings per share. Analysts forecast that Everest Group, Ltd. will post 53.13 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 9th. Everest Group’s dividend payout ratio is 16.92%.

Everest Group Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Everest Group (NYSE:EG)

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