Everest Group (NYSE:EG) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Everest Group (NYSE:EG) from a strong sell rating to a hold rating in a report published on Monday,Zacks.com reports.

Several other research firms have also recently commented on EG. Evercore ISI set a $365.00 price target on shares of Everest Group in a report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Everest Group in a research report on Wednesday, October 8th. TD Cowen dropped their target price on Everest Group from $400.00 to $365.00 and set a “hold” rating on the stock in a research report on Monday, December 15th. Cantor Fitzgerald cut their price target on Everest Group from $348.00 to $344.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Raymond James Financial reiterated an “outperform” rating and set a $350.00 price target on shares of Everest Group in a report on Monday, November 3rd. Six analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $365.33.

Everest Group Stock Up 1.6%

NYSE:EG traded up $5.05 on Monday, hitting $324.97. 65,689 shares of the company’s stock traded hands, compared to its average volume of 332,556. The company has a market cap of $13.64 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 0.23 and a beta of 0.38. Everest Group has a 1 year low of $302.44 and a 1 year high of $373.23. 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 firm has a 50-day moving average price of $324.58 and a 200-day moving average price of $333.90.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, October 27th. The company reported $7.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). Everest Group had a return on equity of 3.74% and a net margin of 3.12%.The company had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $3.86 billion. During the same period last year, the company earned $11.80 earnings per share. Everest Group’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts anticipate that Everest Group will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Wednesday, November 26th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, November 26th. Everest Group’s dividend payout ratio (DPR) is presently 60.93%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Everest Group

Several hedge funds have recently modified their holdings of EG. Natixis lifted its position in Everest Group by 1,456.3% during the 2nd quarter. Natixis now owns 65,941 shares of the company’s stock valued at $22,410,000 after purchasing an additional 61,704 shares during the period. Osaic Holdings Inc. grew its position in shares of Everest Group by 1,863.2% during the 2nd quarter. Osaic Holdings Inc. now owns 25,208 shares of the company’s stock worth $9,137,000 after buying an additional 23,924 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of Everest Group by 37.5% during the second quarter. Balyasny Asset Management L.P. now owns 336,692 shares of the company’s stock worth $114,425,000 after buying an additional 91,799 shares during the last quarter. Brighton Jones LLC lifted its holdings in Everest Group by 157.9% in the third quarter. Brighton Jones LLC now owns 6,635 shares of the company’s stock valued at $2,324,000 after buying an additional 4,062 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in Everest Group by 25.3% in the second quarter. Exchange Traded Concepts LLC now owns 3,647 shares of the company’s stock valued at $1,239,000 after buying an additional 737 shares during the period. 92.64% of the stock is owned by institutional investors.

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.