2,528 Shares in Everest Group, Ltd. $EG Acquired by Commerce Bank

Commerce Bank purchased a new stake in Everest Group, Ltd. (NYSE:EG) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 2,528 shares of the company’s stock, valued at approximately $903,000.

Other hedge funds also recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC acquired a new stake in Everest Group during the second quarter worth approximately $29,000. Activest Wealth Management acquired a new position in shares of Everest Group in the 4th quarter valued at $34,000. Raiffeisen Bank International AG acquired a new position in shares of Everest Group in the 4th quarter valued at $34,000. Cullen Frost Bankers Inc. purchased a new position in shares of Everest Group in the 4th quarter valued at $37,000. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of Everest Group in the 2nd quarter valued at $39,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Stock Up 1.2%

EG opened at $380.04 on Thursday. The business has a 50 day moving average price of $368.71 and a two-hundred day moving average price of $347.92. 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 company has a market cap of $14.57 billion, a PE ratio of 8.04, a P/E/G ratio of 0.74 and a beta of 0.29. Everest Group, Ltd. has a 52 week low of $302.44 and a 52 week high of $401.07.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, July 29th. The company reported $14.85 earnings per share for the quarter, beating the consensus estimate of $14.52 by $0.33. The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.99 billion. Everest Group had a return on equity of 13.63% and a net margin of 11.41%.The company’s revenue was down 11.8% on a year-over-year basis. During the same period last year, the business posted $16.10 EPS. As a group, research analysts anticipate that Everest Group, Ltd. will post 53.28 EPS for the current 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 dividend of $2.00 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $8.00 annualized dividend and a dividend yield of 2.1%. Everest Group’s dividend payout ratio (DPR) is currently 16.92%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Everest Group from $374.00 to $395.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. TD Cowen upped 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. Wells Fargo & Company raised their price objective on Everest Group from $373.00 to $396.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Citigroup lifted their target price on Everest Group from $395.00 to $415.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Finally, Evercore set a $377.00 target price on Everest Group in a report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, Everest Group presently has an average rating of “Hold” and an average target price of $395.27.

About Everest Group

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.