Morgan Stanley Issues Positive Forecast for Everest Group (NYSE:EG) Stock Price

Everest Group (NYSE:EG) had its target price upped by Morgan Stanley from $340.00 to $355.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 0.70% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Everest Group in a research report on Thursday, January 22nd. Mizuho increased their target price on Everest Group from $365.00 to $388.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Keefe, Bruyette & Woods lifted their target price on Everest Group from $402.00 to $411.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. UBS Group upped their price target on Everest Group from $370.00 to $374.00 and gave the company a “neutral” rating in a report on Monday, May 4th. Finally, Wells Fargo & Company increased their price objective on Everest Group from $332.00 to $356.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $375.00.

Everest Group Price Performance

EG opened at $357.50 on Thursday. The firm has a market cap of $14.15 billion, a PE ratio of 7.27, a P/E/G ratio of 0.27 and a beta of 0.35. The stock has a 50-day moving average price of $337.12 and a 200-day moving average price of $330.64. Everest Group has a 1 year low of $302.44 and a 1 year high of $368.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.37 and a quick ratio of 0.37.

Everest Group (NYSE:EG) last released its quarterly earnings data on Monday, March 23rd. The company reported $16.08 earnings per share for the quarter. The business had revenue of $4.07 billion during the quarter. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. Sell-side analysts predict that Everest Group will post 52.71 earnings per share for the current fiscal year.

Insider Activity at Everest Group

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

Institutional Investors Weigh In On Everest Group

A number of large investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its holdings in shares of Everest Group by 98.9% in the first quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock worth $66,000 after buying an additional 90 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Everest Group in the second quarter worth approximately $384,000. Marshall Wace LLP bought a new position in Everest Group in the second quarter worth approximately $238,000. Jump Financial LLC purchased a new position in shares of Everest Group during the 2nd quarter worth $1,510,000. Finally, Federated Hermes Inc. grew its position in shares of Everest Group by 3.7% during the 2nd quarter. Federated Hermes Inc. now owns 14,411 shares of the company’s stock valued at $4,898,000 after acquiring an additional 510 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Everest Group Company 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.