Everest Group (NYSE:EG) Posts Earnings Results, Beats Expectations By $0.33 EPS

Everest Group (NYSE:EG) announced its quarterly earnings data on Wednesday. The company reported $14.85 earnings per share for the quarter, beating analysts’ consensus estimates of $14.52 by $0.33, FiscalAI reports. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.99 billion.

Everest Group Stock Performance

Shares of NYSE EG traded down $4.75 during trading on Wednesday, reaching $393.95. 458,217 shares of the company traded hands, compared to its average volume of 378,741. The stock has a market cap of $15.59 billion, a P/E ratio of 8.01, a PEG ratio of 0.61 and a beta of 0.29. The firm’s fifty day simple moving average is $354.19 and its 200 day simple moving average is $341.17. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.23. Everest Group has a 12-month low of $302.44 and a 12-month high of $401.07.

Everest Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a dividend of $2.00 per share. The ex-dividend date was Friday, June 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.0%. Everest Group’s dividend payout ratio (DPR) is presently 16.27%.

Insider Activity at Everest Group

In other news, CEO Jason Keen sold 775 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $351.84, for a total value of $272,676.00. Following the sale, the chief executive officer owned 8,170 shares in the company, valued at $2,874,532.80. This represents a 8.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC grew its stake 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 during the period. State Street Corp boosted its holdings in Everest Group by 0.4% during the fourth quarter. State Street Corp now owns 1,906,692 shares of the company’s stock worth $647,036,000 after buying an additional 7,806 shares in the last quarter. Vulcan Value Partners LLC boosted its holdings in Everest Group by 6.5% during the fourth quarter. Vulcan Value Partners LLC now owns 1,509,740 shares of the company’s stock worth $512,288,000 after buying an additional 92,274 shares in the last quarter. Invesco Ltd. grew its position in Everest Group by 10.3% during the fourth quarter. Invesco Ltd. now owns 743,190 shares of the company’s stock valued at $252,202,000 after buying an additional 69,636 shares during the period. Finally, Boston Partners increased its holdings in Everest Group by 1.7% in the fourth quarter. Boston Partners now owns 741,524 shares of the company’s stock valued at $251,621,000 after buying an additional 12,505 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on EG. Atlantic Securities set a $484.00 price target on Everest Group in a research report on Wednesday, July 15th. Cantor Fitzgerald increased their price objective on Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Citigroup raised their price objective on Everest Group from $342.00 to $395.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Evercore set a $375.00 target price on Everest Group in a report on Friday, July 10th. Finally, BMO Capital Markets upped their target price on Everest Group from $366.00 to $376.00 and gave the company a “market perform” rating in a research report on Thursday, May 14th. Four analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, Everest Group has an average rating of “Hold” and an average target price of $387.73.

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.