Bank of Nova Scotia Makes New Investment in Everest Group, Ltd. $EG

Bank of Nova Scotia bought a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,257 shares of the company’s stock, valued at approximately $1,878,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Everest Group during the second quarter worth approximately $1,150,555,000. Norges Bank acquired a new stake in shares of Everest Group during the 4th quarter worth $630,277,000. AQR Capital Management LLC grew its holdings in shares of Everest Group by 70.3% during the 3rd quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock worth $695,275,000 after purchasing an additional 830,418 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Everest Group by 12,322.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company’s stock worth $176,205,000 after purchasing an additional 515,063 shares during the period. Finally, William Blair Investment Management LLC bought a new position in shares of Everest Group in the second quarter worth $171,426,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. TD Cowen upped their price objective on shares of Everest Group from $365.00 to $385.00 and gave the stock a “hold” rating in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods raised their target price on shares of Everest Group from $411.00 to $414.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Citigroup boosted their target price on shares of Everest Group from $395.00 to $415.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Wells Fargo & Company upped their price target on shares of Everest Group from $373.00 to $396.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Finally, BMO Capital Markets increased their price target on shares of Everest Group from $366.00 to $376.00 and gave the stock a “market perform” rating in a research report on Thursday, May 14th. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $395.27.

Everest Group Stock Performance

Shares of EG opened at $380.04 on Thursday. The firm’s fifty day simple moving average is $368.71 and its two-hundred day simple moving average is $347.92. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $401.07. The stock has a market capitalization of $14.57 billion, a P/E ratio of 8.04, a price-to-earnings-growth ratio of 0.74 and a beta of 0.29. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last issued its earnings results on Wednesday, July 29th. The company reported $14.85 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 business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period in the previous year, the company posted $16.10 EPS. The firm’s revenue was down 11.8% compared to the same quarter last year. As a group, analysts predict that Everest Group, Ltd. will post 53.28 EPS for the current year.

Everest Group Dividend Announcement

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