Everest Group (NYSE:EG) Reaches New 52-Week High – Here’s What Happened

Shares of Everest Group, Ltd. (NYSE:EG) hit a new 52-week high during trading on Wednesday . The stock traded as high as $379.22 and last traded at $373.7080, with a volume of 307711 shares. The stock had previously closed at $372.93.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. UBS Group set a $355.00 target price on shares of Everest Group in a report on Thursday, May 21st. BMO Capital Markets raised their price target on Everest Group from $366.00 to $376.00 and gave the stock a “market perform” rating in a research report on Thursday, May 14th. Citigroup lifted their price objective on Everest Group from $342.00 to $395.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Bank of America increased their target price on Everest Group from $430.00 to $454.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a report on Friday, May 22nd. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $373.29.

Everest Group Stock Performance

The stock has a market capitalization of $14.79 billion, a PE ratio of 7.60, a price-to-earnings-growth ratio of 0.57 and a beta of 0.29. The stock has a fifty day moving average of $346.09 and a 200-day moving average of $336.84. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, March 23rd. The company reported $16.08 earnings per share for the quarter. The company had revenue of $4.07 billion for the quarter. Everest Group had a return on equity of 14.70% and a net margin of 11.76%. Equities analysts anticipate that Everest Group, Ltd. will post 52.72 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $2.00 dividend. The ex-dividend date was Friday, June 12th. This represents a $8.00 dividend on an annualized basis and a yield of 2.1%. Everest Group’s payout ratio is currently 16.27%.

Insider Activity at Everest Group

In other news, CEO Jason Keen sold 775 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $351.84, for a total value of $272,676.00. Following the sale, the chief executive officer directly owned 8,170 shares in the company, valued at approximately $2,874,532.80. This trade represents a 8.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Everest Group

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Everest Group by 46.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,730 shares of the company’s stock worth $618,000 after buying an additional 545 shares during the last quarter. Somerset Trust Co purchased a new position in shares of Everest Group in the 2nd quarter valued at about $216,000. Versant Capital Management Inc increased its holdings in shares of Everest Group by 34.6% in the 2nd quarter. Versant Capital Management Inc now owns 634 shares of the company’s stock valued at $226,000 after acquiring an additional 163 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Everest Group by 70.1% during the 1st quarter. Parallel Advisors LLC now owns 767 shares of the company’s stock worth $251,000 after acquiring an additional 316 shares in the last quarter. Finally, Summitry LLC purchased a new stake in Everest Group during the first quarter worth approximately $202,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

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.