Everest Group (NYSE:EG) Given New $373.00 Price Target at Wells Fargo & Company

Everest Group (NYSE:EG) had its price target increased by Wells Fargo & Company from $356.00 to $373.00 in a report issued on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms have also issued reports on EG. Cantor Fitzgerald increased their price objective on shares of Everest Group from $344.00 to $390.00 and gave the stock a “neutral” rating in a research report on Thursday. Bank of America upped their price target on shares of Everest Group from $430.00 to $454.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Citigroup increased their price target on Everest Group from $342.00 to $395.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Keefe, Bruyette & Woods raised their price objective on Everest Group from $411.00 to $414.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Morgan Stanley boosted their price objective on Everest Group from $355.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Monday. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $380.14.

Everest Group Stock Down 0.1%

Shares of NYSE:EG opened at $370.83 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.37 and a current ratio of 0.37. Everest Group has a 1 year low of $302.44 and a 1 year high of $379.21. The stock has a market capitalization of $14.67 billion, a P/E ratio of 7.54, a PEG ratio of 0.57 and a beta of 0.29. The stock has a 50-day simple moving average of $347.13 and a 200-day simple moving average of $337.40.

Everest Group (NYSE:EG) last posted its earnings results on Monday, March 23rd. The company reported $16.08 earnings per share (EPS) for the quarter. The firm 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%. Equities analysts forecast that Everest Group will post 52.77 earnings per share for the current year.

Everest Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, June 12th. Everest Group’s dividend payout ratio is 16.27%.

Insider Buying and Selling at Everest Group

In other news, CEO Jason Keen sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were 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 of the company’s stock, valued at approximately $2,874,532.80. This trade represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Everest Group

Institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. lifted its stake in Everest Group by 98.9% during the first quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock worth $66,000 after purchasing an additional 90 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Everest Group during the second quarter worth $384,000. Marshall Wace LLP acquired a new stake in shares of Everest Group during the second quarter worth $238,000. Jump Financial LLC bought a new position in shares of Everest Group in the 2nd quarter worth about $1,510,000. Finally, Federated Hermes Inc. raised its stake in Everest Group by 3.7% during the second quarter. Federated Hermes Inc. now owns 14,411 shares of the company’s stock worth $4,898,000 after acquiring an additional 510 shares during the period. Institutional investors and hedge funds own 92.64% of the company’s stock.

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.