Deutsche Bank AG Acquires New Stake in Everest Group, Ltd. $EG

Deutsche Bank AG bought a new position in shares of Everest Group, Ltd. (NYSE:EG) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 161,837 shares of the company’s stock, valued at approximately $57,813,000.

A number of other hedge funds have also modified their holdings of EG. M&T Bank Corp raised its holdings in Everest Group by 4,077.5% in the 4th quarter. M&T Bank Corp now owns 79,205 shares of the company’s stock valued at $26,878,000 after acquiring an additional 77,309 shares during the last quarter. Algebris UK Ltd. acquired a new position in shares of Everest Group during the 4th quarter worth approximately $23,460,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Everest Group by 12,322.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company’s stock valued at $176,205,000 after purchasing an additional 515,063 shares in the last quarter. Bank of America Corp DE grew its position in shares of Everest Group by 7.7% in the first quarter. Bank of America Corp DE now owns 233,326 shares of the company’s stock valued at $76,263,000 after purchasing an additional 16,701 shares in the last quarter. Finally, National Pension Service increased its holdings in shares of Everest Group by 13.2% in the fourth quarter. National Pension Service now owns 44,113 shares of the company’s stock valued at $14,970,000 after purchasing an additional 5,157 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Stock Up 1.4%

Shares of NYSE:EG opened at $368.89 on Friday. The company 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. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $401.07. The business has a 50-day moving average price of $365.72 and a 200 day moving average price of $346.63. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last posted its earnings results on Wednesday, July 29th. The company reported $14.85 EPS for the quarter, beating analysts’ consensus estimates of $14.52 by $0.33. The company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. Everest Group’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $16.10 earnings per share. Sell-side analysts expect that Everest Group, Ltd. will post 52.83 EPS for the current year.

Everest Group Announces Dividend

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 paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, September 9th. Everest Group’s payout ratio is 16.92%.

Wall Street Analyst Weigh In

EG has been the topic of a number of analyst reports. Barclays lifted their price objective on Everest Group from $420.00 to $430.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Wells Fargo & Company raised their target price on Everest Group from $373.00 to $396.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Cantor Fitzgerald lifted their price target on Everest Group from $344.00 to $390.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. 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. Finally, BMO Capital Markets upped their price objective on shares of Everest Group from $366.00 to $376.00 and gave the company a “market perform” rating in a report on Thursday, May 14th. Four equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, Everest Group presently has a consensus rating of “Hold” and a consensus price target 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.