Everest Group, Ltd. $EG Shares Sold by Royal Bank of Canada

Royal Bank of Canada lowered its holdings in Everest Group, Ltd. (NYSE:EG) by 22.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,296 shares of the company’s stock after selling 9,457 shares during the period. Royal Bank of Canada owned 0.08% of Everest Group worth $10,883,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Estate Counselors LLC acquired a new stake in Everest Group in the 1st quarter worth about $1,678,000. Quantinno Capital Management LP lifted its holdings in shares of Everest Group by 117.0% during the 1st quarter. Quantinno Capital Management LP now owns 74,518 shares of the company’s stock worth $24,356,000 after acquiring an additional 40,181 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of Everest Group by 1.4% during the 1st quarter. Lazard Asset Management LLC now owns 68,079 shares of the company’s stock worth $22,252,000 after acquiring an additional 942 shares during the period. Gateway Wealth Partners LLC acquired a new stake in shares of Everest Group in the first quarter worth approximately $312,000. Finally, OMERS ADMINISTRATION Corp boosted its position in shares of Everest Group by 15.0% in the first quarter. OMERS ADMINISTRATION Corp now owns 9,541 shares of the company’s stock worth $3,118,000 after acquiring an additional 1,248 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods increased 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. BMO Capital Markets upped their price objective on Everest Group from $366.00 to $376.00 and gave the stock a “market perform” rating in a report on Thursday, May 14th. Bank of America increased their target price on Everest Group from $430.00 to $454.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Mizuho lowered their price target on Everest Group from $418.00 to $416.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Finally, Cantor Fitzgerald upped their price target on Everest Group from $344.00 to $390.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Four investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, Everest Group currently has an average rating of “Hold” and an average target price of $393.93.

Everest Group Trading Up 1.0%

Shares of EG opened at $374.14 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.37 and a current ratio of 0.35. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $401.07. The stock has a 50-day moving average price of $358.79 and a 200 day moving average price of $343.81. The company has a market capitalization of $14.34 billion, a P/E ratio of 7.91, a P/E/G ratio of 0.74 and a beta of 0.29.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, July 29th. The company reported $14.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.52 by $0.33. Everest Group had a return on equity of 13.63% and a net margin of 11.41%.The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period in the prior year, the company posted $16.10 EPS. Everest Group’s quarterly revenue was down 11.8% on a year-over-year basis. Sell-side 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 was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid 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 was Friday, June 12th. Everest Group’s dividend 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.