Mitsubishi UFJ Asset Management Co. Ltd. Acquires New Position in Everest Group, Ltd. $EG

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 97,079 shares of the company’s stock, valued at approximately $34,680,000.

A number of other large investors also recently bought and sold shares of EG. AQR Capital Management LLC grew its position in shares of Everest Group by 70.3% in the 3rd quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock worth $695,275,000 after acquiring an additional 830,418 shares in the last quarter. State Street Corp raised its position in shares of Everest Group by 0.4% during the 4th quarter. State Street Corp now owns 1,906,692 shares of the company’s stock valued at $647,036,000 after acquiring an additional 7,806 shares in the last quarter. Norges Bank acquired a new stake in shares of Everest Group during the 4th quarter valued at approximately $630,277,000. Vulcan Value Partners LLC lifted its stake 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 purchasing an additional 92,274 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Everest Group by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,170,210 shares of the company’s stock worth $395,671,000 after purchasing an additional 4,978 shares during the last quarter. Institutional investors own 92.64% of the company’s stock.

Everest Group Trading Down 0.8%

Shares of NYSE EG opened at $364.41 on Thursday. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $401.07. The company has a market cap of $13.97 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 0.72 and a beta of 0.29. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.23. The stock’s 50 day simple moving average is $365.07 and its 200 day simple moving average is $346.37.

Everest Group (NYSE:EG) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $14.85 EPS for the quarter, topping analysts’ consensus estimates of $14.52 by $0.33. Everest Group had a return on equity of 13.63% and a net margin of 11.41%.The firm had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the prior year, the business earned $16.10 EPS. The firm’s revenue was down 11.8% on a year-over-year basis. Equities research analysts expect that Everest Group, Ltd. will post 53.13 EPS for the current year.

Everest Group Dividend Announcement

The company 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 of this dividend is Wednesday, September 9th. This represents a $8.00 annualized dividend and a dividend yield of 2.2%. Everest Group’s payout ratio is 16.92%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EG shares. Mizuho decreased their price objective on shares of Everest Group from $418.00 to $416.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Evercore set a $377.00 price target on shares of Everest Group in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Morgan Stanley lifted their price target on shares of Everest Group from $355.00 to $360.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Everest Group from $373.00 to $396.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.