Foster & Motley Inc. Purchases Shares of 2,643 Everest Group, Ltd. $EG

Foster & Motley Inc. acquired a new position in Everest Group, Ltd. (NYSE:EG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,643 shares of the company’s stock, valued at approximately $944,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. M&T Bank Corp raised its stake in Everest Group by 4,077.5% during the 4th quarter. M&T Bank Corp now owns 79,205 shares of the company’s stock worth $26,878,000 after acquiring an additional 77,309 shares during the period. Algebris UK Ltd. bought a new position in shares of Everest Group in the fourth quarter worth approximately $23,460,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Everest Group by 12,322.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company’s stock worth $176,205,000 after purchasing an additional 515,063 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Everest Group by 7.7% in the first quarter. Bank of America Corp DE now owns 233,326 shares of the company’s stock worth $76,263,000 after purchasing an additional 16,701 shares in the last quarter. Finally, National Pension Service raised its position in shares of Everest Group by 13.2% during the 4th quarter. National Pension Service now owns 44,113 shares of the company’s stock valued at $14,970,000 after purchasing an additional 5,157 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

EG has been the subject of a number of analyst reports. Barclays increased their price target on Everest Group from $420.00 to $430.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Mizuho decreased their target price on Everest Group from $418.00 to $416.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. Cantor Fitzgerald boosted their price target on Everest Group from $344.00 to $390.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods upped their price target on Everest Group from $411.00 to $414.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Finally, Wells Fargo & Company increased their price objective on shares of Everest Group from $373.00 to $396.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Four research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $395.27.

Everest Group Price Performance

NYSE:EG opened at $364.41 on Thursday. The business’s 50-day moving average is $365.07 and its 200 day moving average is $346.37. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $401.07. The company has a market capitalization of $13.97 billion, a P/E ratio of 7.71, a P/E/G ratio of 0.72 and a beta of 0.29. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23.

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

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.2%. Everest Group’s dividend payout ratio (DPR) is 16.92%.

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.