Meeder Advisory Services Inc. Makes New $678,000 Investment in Everest Group, Ltd. $EG

Meeder Advisory Services Inc. acquired a new stake in Everest Group, Ltd. (NYSE:EG) during the 2nd quarter, Holdings Channel reports. The fund acquired 1,899 shares of the company’s stock, valued at approximately $678,000.

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

Wall Street Analysts Forecast Growth

EG has been the subject of several analyst reports. Evercore set a $377.00 price objective on Everest Group in a report on Thursday, July 30th. Citigroup upped their target price on Everest Group from $395.00 to $415.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Atlantic Securities set a $484.00 price target on Everest Group in a research report on Wednesday, July 15th. Cantor Fitzgerald raised their price target on Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, TD Cowen boosted their price target on Everest Group from $365.00 to $385.00 and gave the stock a “hold” rating in a research report on Wednesday. Four analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Everest Group presently has a consensus rating of “Hold” and an average price target of $395.27.

Everest Group Stock Up 1.4%

EG stock opened at $368.89 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market capitalization of $14.14 billion, a price-to-earnings ratio of 7.80, a PEG ratio of 0.72 and a beta of 0.29. The business’s fifty day moving average price is $365.72 and its two-hundred day moving average price is $346.63. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $401.07.

Everest Group (NYSE:EG) last released its earnings results on Wednesday, July 29th. The company reported $14.85 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm posted $16.10 EPS. On average, equities analysts anticipate that Everest Group, Ltd. will post 52.83 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th will be issued a dividend of $2.00 per share. The ex-dividend date is Wednesday, September 9th. This represents a $8.00 annualized dividend and a dividend yield of 2.2%. Everest Group’s dividend payout ratio is 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.