Bright Futures Wealth Management LLC. Makes New Investment in Everest Group, Ltd. $EG

Bright Futures Wealth Management LLC. purchased a new stake in shares of Everest Group, Ltd. (NYSE:EG) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,681 shares of the company’s stock, valued at approximately $589,000.

Other institutional investors also recently modified their holdings of the company. Natixis increased its position in shares of Everest Group by 1,456.3% during the 2nd quarter. Natixis now owns 65,941 shares of the company’s stock valued at $22,410,000 after purchasing an additional 61,704 shares during the last quarter. Osaic Holdings Inc. grew its position in Everest Group by 1,863.2% during the second quarter. Osaic Holdings Inc. now owns 25,208 shares of the company’s stock valued at $9,137,000 after buying an additional 23,924 shares during the period. Balyasny Asset Management L.P. increased its holdings in Everest Group by 37.5% during the second quarter. Balyasny Asset Management L.P. now owns 336,692 shares of the company’s stock valued at $114,425,000 after buying an additional 91,799 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Everest Group by 4.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 652,194 shares of the company’s stock worth $228,418,000 after acquiring an additional 29,586 shares during the period. Finally, Brighton Jones LLC boosted its stake in shares of Everest Group by 157.9% during the 3rd quarter. Brighton Jones LLC now owns 6,635 shares of the company’s stock worth $2,324,000 after acquiring an additional 4,062 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EG has been the subject of several analyst reports. Barclays upped their price objective on Everest Group from $365.00 to $377.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. Evercore set a $365.00 price target on Everest Group in a research report on Wednesday, January 7th. Zacks Research raised Everest Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Mizuho set a $360.00 price objective on Everest Group in a research note on Wednesday, February 11th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Everest Group from $400.00 to $430.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $363.21.

Everest Group Stock Performance

NYSE EG opened at $335.29 on Monday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.23. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $370.20. The business has a 50-day moving average price of $332.38 and a 200-day moving average price of $333.11. The firm has a market cap of $13.54 billion, a price-to-earnings ratio of 8.86, a price-to-earnings-growth ratio of 0.24 and a beta of 0.34.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $13.26 EPS for the quarter, missing analysts’ consensus estimates of $13.36 by ($0.10). Everest Group had a return on equity of 12.50% and a net margin of 9.09%.The business had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $3.97 billion. During the same period in the prior year, the firm posted ($18.39) earnings per share. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis. As a group, equities research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $2.00 per share. The ex-dividend date is Friday, March 13th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. Everest Group’s dividend payout ratio is currently 21.13%.

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.