Northwestern Mutual Wealth Management Co. Buys Shares of 2,301 Everest Group, Ltd. $EG

Northwestern Mutual Wealth Management Co. purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,301 shares of the company’s stock, valued at approximately $822,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Everest Group during the second quarter valued at approximately $1,150,555,000. AQR Capital Management LLC boosted its position in Everest Group by 70.3% during the third quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock worth $695,275,000 after acquiring an additional 830,418 shares during the last quarter. State Street Corp grew its stake in Everest Group by 0.4% in the 4th quarter. State Street Corp now owns 1,906,692 shares of the company’s stock worth $647,036,000 after acquiring an additional 7,806 shares during the period. Norges Bank purchased a new stake in Everest Group in the 4th quarter worth approximately $630,277,000. Finally, Vulcan Value Partners LLC raised its holdings in Everest Group by 6.5% in the 4th quarter. Vulcan Value Partners LLC now owns 1,509,740 shares of the company’s stock valued at $512,288,000 after acquiring an additional 92,274 shares during the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EG has been the topic of a number of recent analyst reports. Evercore set a $377.00 price target on Everest Group in a research note on Thursday, July 30th. Atlantic Securities set a $484.00 target price on Everest Group in a research note on Wednesday, July 15th. Wells Fargo & Company upped their target price on Everest Group from $373.00 to $396.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. UBS Group increased their target price on Everest Group from $374.00 to $395.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings raised Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Four analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $395.27.

Everest Group Stock Down 0.2%

Shares of EG opened at $376.01 on Wednesday. The firm has a market cap of $14.42 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 0.74 and a beta of 0.29. The company’s fifty day moving average is $367.85 and its two-hundred day moving average is $347.54. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $401.07. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, July 29th. The company reported $14.85 EPS 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 return on equity of 13.63% and a net margin of 11.41%.The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $16.10 EPS. Analysts forecast that Everest Group, Ltd. will post 53.28 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Everest Group’s payout ratio is 16.92%.

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.