Legal & General Group Plc Invests $96.26 Million in Everest Group, Ltd. $EG

Legal & General Group Plc purchased a new position in Everest Group, Ltd. (NYSE:EG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 269,461 shares of the company’s stock, valued at approximately $96,260,000.

Several other institutional investors also recently added to or reduced their stakes in EG. Trifecta Capital Advisors LLC bought a new stake in Everest Group in the second quarter worth about $29,000. Activest Wealth Management purchased a new position in Everest Group in the fourth quarter valued at about $34,000. Raiffeisen Bank International AG bought a new position in shares of Everest Group during the 4th quarter valued at approximately $34,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Everest Group during the 4th quarter worth approximately $37,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Everest Group in the 2nd quarter worth approximately $39,000. Institutional investors own 92.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on EG. Morgan Stanley upped their price objective on Everest Group from $355.00 to $360.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. BMO Capital Markets raised their target price 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. Barclays boosted their target price on Everest Group from $420.00 to $430.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Mizuho dropped their price target on Everest Group from $418.00 to $416.00 and set a “neutral” rating on the stock in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Everest Group has a consensus rating of “Hold” and an average price target of $395.27.

Everest Group Stock Performance

Shares of EG stock opened at $377.33 on Friday. The stock has a market capitalization of $14.47 billion, a P/E ratio of 7.98, a PEG ratio of 0.74 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 firm’s 50 day moving average is $369.53 and its 200 day moving average is $348.26. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $401.07.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, July 29th. The company reported $14.85 EPS for the quarter, topping the consensus estimate of $14.52 by $0.33. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the firm earned $16.10 EPS. Everest Group’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, sell-side analysts anticipate that Everest Group, Ltd. will post 53.28 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be given 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 2.1%. Everest Group’s dividend payout ratio is currently 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.