Palouse Capital Management Inc. Invests $1.97 Million in Everest Group, Ltd. $EG

Palouse Capital Management Inc. purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,625 shares of the company’s stock, valued at approximately $1,970,000.

Several other large investors also recently bought and sold shares of the business. Board of the Pension Protection Fund purchased a new position in Everest Group in the 2nd quarter worth approximately $34,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Everest Group in the second quarter valued at approximately $39,000. MUFG Securities EMEA plc purchased a new position in Everest Group during the second quarter worth approximately $43,000. MassMutual Private Wealth & Trust FSB boosted its stake in Everest Group by 86.4% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the company’s stock worth $53,000 after buying an additional 70 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in Everest Group by 96.8% during the second quarter. Allworth Financial LP now owns 183 shares of the company’s stock worth $62,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Insider Buying and Selling at Everest Group

In other Everest Group news, Director William F. Galtney, Jr. purchased 11,385 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were bought at an average cost of $307.38 per share, for a total transaction of $3,499,521.30. Following the completion of the purchase, the director directly owned 45,491 shares of the company’s stock, valued at approximately $13,983,023.58. This trade represents a 33.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Allan Levine purchased 3,100 shares of Everest Group stock in a transaction dated Wednesday, October 29th. The shares were acquired at an average cost of $306.08 per share, for a total transaction of $948,848.00. Following the transaction, the director directly owned 4,153 shares of the company’s stock, valued at approximately $1,271,150.24. This represents a 294.40% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

EG has been the subject of a number of recent research reports. Wolfe Research raised Everest Group from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 29th. Keefe, Bruyette & Woods lifted their target price on shares of Everest Group from $400.00 to $430.00 and gave the stock an “outperform” rating in a research note on Tuesday. Wells Fargo & Company decreased their target price on shares of Everest Group from $383.00 to $343.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 29th. Barclays raised their price target on shares of Everest Group from $365.00 to $377.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Zacks Research cut Everest Group from a “hold” rating to a “strong sell” rating in a report on Friday, December 12th. Five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $369.40.

Everest Group Price Performance

Everest Group stock opened at $337.91 on Friday. The company’s 50 day simple moving average is $323.88 and its 200-day simple moving average is $334.22. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.39 and a current ratio of 0.39. Everest Group, Ltd. has a 1 year low of $302.44 and a 1 year high of $373.23. The company has a market capitalization of $14.18 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 0.23 and a beta of 0.38.

Everest Group (NYSE:EG) last posted its earnings results on Monday, October 27th. The company reported $7.54 earnings per share for the quarter, missing the consensus estimate of $13.39 by ($5.85). The company had revenue of $4.32 billion during the quarter, compared to analyst estimates of $3.86 billion. Everest Group had a net margin of 3.12% and a return on equity of 3.74%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $11.80 EPS. As a group, equities research analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Wednesday, November 26th were paid a $2.00 dividend. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. Everest Group’s payout ratio is presently 60.93%.

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.