Victory Capital Management Inc. Increases Stock Position in Everest Group, Ltd. $EG

Victory Capital Management Inc. boosted its holdings in Everest Group, Ltd. (NYSE:EG) by 20.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 326,877 shares of the company’s stock after buying an additional 54,901 shares during the period. Victory Capital Management Inc.’s holdings in Everest Group were worth $114,482,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of EG. Norges Bank purchased a new position in shares of Everest Group in the second quarter worth $601,300,000. Vulcan Value Partners LLC lifted its stake in Everest Group by 13.9% during the 3rd quarter. Vulcan Value Partners LLC now owns 1,417,466 shares of the company’s stock valued at $496,514,000 after acquiring an additional 172,479 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Everest Group by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,211,474 shares of the company’s stock valued at $414,385,000 after acquiring an additional 6,217 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Everest Group by 65.6% during the second quarter. AQR Capital Management LLC now owns 1,180,615 shares of the company’s stock valued at $399,626,000 after purchasing an additional 467,656 shares during the last quarter. Finally, Altrinsic Global Advisors LLC lifted its position in Everest Group by 37.2% during the second quarter. Altrinsic Global Advisors LLC now owns 937,296 shares of the company’s stock valued at $318,540,000 after purchasing an additional 254,317 shares during the period. Institutional investors own 92.64% of the company’s stock.

Everest Group Stock Performance

NYSE:EG opened at $334.21 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a 50-day simple moving average of $332.38 and a two-hundred day simple moving average of $333.16. The firm has a market capitalization of $13.50 billion, a PE ratio of 8.83, a P/E/G ratio of 0.24 and a beta of 0.34. Everest Group, Ltd. has a 52-week low of $302.44 and a 52-week high of $370.20.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $13.26 EPS for the quarter, missing the consensus estimate of $13.36 by ($0.10). The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $3.97 billion. Everest Group had a return on equity of 12.50% and a net margin of 9.09%.The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the business earned ($18.39) EPS. Analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $2.00 per share. The ex-dividend date is Friday, March 13th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. Everest Group’s payout ratio is 21.13%.

Analyst Ratings Changes

A number of research firms have commented on EG. 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 report on Tuesday, January 6th. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research note on Thursday, January 22nd. Wells Fargo & Company reduced their price objective on Everest Group from $332.00 to $310.00 and set an “equal weight” rating for the company in a research report on Friday, February 6th. Cantor Fitzgerald lowered their target price on Everest Group from $348.00 to $344.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. Finally, Zacks Research upgraded Everest Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Everest Group presently has an average rating of “Hold” and a consensus target price of $363.21.

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.