Causeway Capital Management LLC Makes New Investment in Everest Group, Ltd. $EG

Causeway Capital Management LLC bought a new position in shares of Everest Group, Ltd. (NYSE:EG) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 175,686 shares of the company’s stock, valued at approximately $61,531,000. Everest Group accounts for approximately 0.8% of Causeway Capital Management LLC’s holdings, making the stock its 25th biggest position. Causeway Capital Management LLC owned approximately 0.42% of Everest Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EG. Norges Bank purchased a new stake in Everest Group in the 2nd quarter worth $601,300,000. Vulcan Value Partners LLC grew its position in shares of Everest Group by 13.9% in the third quarter. Vulcan Value Partners LLC now owns 1,417,466 shares of the company’s stock valued at $496,514,000 after purchasing an additional 172,479 shares during the period. Geode Capital Management LLC increased its stake in shares of Everest Group by 0.5% during the second quarter. Geode Capital Management LLC now owns 1,211,474 shares of the company’s stock worth $414,385,000 after purchasing an additional 6,217 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Everest Group by 65.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,180,615 shares of the company’s stock worth $399,626,000 after purchasing an additional 467,656 shares during the last quarter. Finally, Altrinsic Global Advisors LLC lifted its stake in Everest Group by 37.2% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 937,296 shares of the company’s stock valued at $318,540,000 after buying an additional 254,317 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on EG. Zacks Research upgraded Everest Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Cantor Fitzgerald reduced their price objective on Everest Group from $348.00 to $344.00 and set a “neutral” rating for the company in a research note on Wednesday, January 14th. TD Cowen decreased their price objective on Everest Group from $400.00 to $365.00 and set a “hold” rating on the stock in a report on Monday, December 15th. Barclays upped their target price on shares of Everest Group from $365.00 to $377.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Finally, Wells Fargo & Company lowered their price target on shares of Everest Group from $332.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Friday, February 6th. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $363.21.

Everest Group Stock Performance

NYSE EG opened at $328.16 on Tuesday. The stock has a fifty day simple moving average of $332.01 and a 200-day simple moving average of $332.94. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.23. The stock has a market cap of $13.25 billion, a PE ratio of 8.67, a P/E/G ratio of 0.24 and a beta of 0.34. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $370.20.

Everest Group (NYSE:EG) last posted its 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). Everest Group had a net margin of 9.09% and a return on equity of 12.50%. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period in the previous year, the company earned ($18.39) EPS. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. Equities analysts anticipate that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. Everest Group’s dividend payout ratio (DPR) is presently 21.13%.

Everest Group 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.