Adams Diversified Equity Fund Inc. Takes $8.82 Million Position in Everest Group, Ltd. $EG

Adams Diversified Equity Fund Inc. acquired a new stake in Everest Group, Ltd. (NYSE:EG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,000 shares of the company’s stock, valued at approximately $8,825,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its position in shares of Everest Group by 98.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock valued at $66,000 after buying an additional 90 shares during the period. Sivia Capital Partners LLC acquired a new stake in Everest Group during the second quarter worth $384,000. Marshall Wace LLP acquired a new stake in Everest Group during the second quarter worth $238,000. Jump Financial LLC purchased a new stake in Everest Group in the second quarter valued at $1,510,000. Finally, Federated Hermes Inc. raised its position in Everest Group by 3.7% in the second quarter. Federated Hermes Inc. now owns 14,411 shares of the company’s stock valued at $4,898,000 after purchasing an additional 510 shares during the period. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EG has been the subject of a number of research analyst reports. BMO Capital Markets increased their price target on Everest Group from $366.00 to $376.00 and gave the stock a “market perform” rating in a report on Thursday, May 14th. Mizuho boosted their price objective on shares of Everest Group from $365.00 to $388.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Barclays lifted their target price on shares of Everest Group from $377.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Keefe, Bruyette & Woods boosted their target price on Everest Group from $402.00 to $411.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Finally, Citigroup lifted their price objective on Everest Group from $342.00 to $395.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $370.07.

Everest Group Stock Performance

NYSE:EG opened at $355.01 on Friday. The business’s fifty day moving average price is $343.45 and its 200 day moving average price is $334.50. The firm has a market capitalization of $14.05 billion, a PE ratio of 7.22, a price-to-earnings-growth ratio of 0.54 and a beta of 0.31. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month 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 issued its earnings results on Monday, March 23rd. The company reported $16.08 earnings per share for the quarter. The business had revenue of $4.07 billion for the quarter. Everest Group had a return on equity of 14.70% and a net margin of 11.76%. On average, sell-side analysts anticipate that Everest Group, Ltd. will post 52.79 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, June 12th. Everest Group’s dividend payout ratio (DPR) is 16.27%.

Insiders Place Their Bets

In related news, CEO Jason Keen sold 775 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $351.84, for a total value of $272,676.00. Following the completion of the sale, the chief executive officer directly owned 8,170 shares of the company’s stock, valued at $2,874,532.80. The trade was a 8.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

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.