Daiichi Life Insurance Co. Ltd. Buys New Stake in Everest Group, Ltd. $EG

Daiichi Life Insurance Co. Ltd. purchased a new position in shares of Everest Group, Ltd. (NYSE:EG) in the second quarter, HoldingsChannel reports. The institutional investor purchased 2,166 shares of the company’s stock, valued at approximately $774,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. lifted its stake in shares of Everest Group by 98.9% during the first quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock worth $66,000 after purchasing an additional 90 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Everest Group in the second quarter valued at about $384,000. Marshall Wace LLP acquired a new stake in shares of Everest Group in the second quarter valued at about $238,000. Jump Financial LLC purchased a new stake in shares of Everest Group during the 2nd quarter valued at about $1,510,000. Finally, Federated Hermes Inc. raised its holdings in shares of Everest Group by 3.7% during the 2nd quarter. Federated Hermes Inc. now owns 14,411 shares of the company’s stock valued at $4,898,000 after buying an additional 510 shares during the period. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Mizuho decreased their price target on Everest Group from $418.00 to $416.00 and set a “neutral” rating for the company in a report on Friday, July 31st. TD Cowen lifted their price objective on shares of Everest Group from $365.00 to $385.00 and gave the company a “hold” rating in a research note on Wednesday, August 19th. Citigroup upped their target price on shares of Everest Group from $395.00 to $415.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. UBS Group raised their price target on shares of Everest Group from $374.00 to $395.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Finally, Cantor Fitzgerald lifted their price target on shares of 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 given a Hold rating to the stock. Based on data from MarketBeat.com, Everest Group currently has an average rating of “Hold” and an average price target of $395.27.

Everest Group Price Performance

Shares of NYSE EG opened at $376.64 on Tuesday. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $401.07. The business has a 50 day moving average price of $367.10 and a two-hundred day moving average price of $347.23. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The firm has a market cap of $14.44 billion, a PE ratio of 7.96, a price-to-earnings-growth ratio of 0.73 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. The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.99 billion. Everest Group had a return on equity of 13.63% and a net margin of 11.41%.Everest Group’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $16.10 EPS. Sell-side analysts expect that Everest Group, Ltd. will post 52.91 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

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

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.