Edgestream Partners L.P. Grows Position in Everest Group, Ltd. $EG

Edgestream Partners L.P. raised its stake in shares of Everest Group, Ltd. (NYSE:EG) by 18.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 23,149 shares of the company’s stock after purchasing an additional 3,647 shares during the period. Edgestream Partners L.P.’s holdings in Everest Group were worth $7,566,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Everest Group in the fourth quarter worth about $630,277,000. AQR Capital Management LLC grew its stake in shares of Everest Group by 70.3% during the 3rd quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock valued at $695,275,000 after acquiring an additional 830,418 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Everest Group by 12,322.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company’s stock valued at $176,205,000 after acquiring an additional 515,063 shares during the period. Hsbc Holdings PLC increased its holdings in Everest Group by 507.4% in the 1st quarter. Hsbc Holdings PLC now owns 449,919 shares of the company’s stock worth $147,102,000 after acquiring an additional 375,846 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in Everest Group by 181.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 498,697 shares of the company’s stock worth $169,233,000 after acquiring an additional 321,376 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Wells Fargo & Company upped their price target on shares of Everest Group from $356.00 to $373.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Mizuho increased their price objective on shares of Everest Group from $388.00 to $418.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Morgan Stanley raised their price objective on shares of Everest Group from $355.00 to $360.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Finally, Atlantic Securities set a $484.00 target price on shares of Everest Group in a research note on Wednesday, July 15th. Four research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $387.73.

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 shares were sold at an average price of $351.84, for a total transaction of $272,676.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.

Everest Group Stock Down 1.2%

Shares of EG opened at $393.95 on Thursday. The business’s 50 day moving average is $354.90 and its 200 day moving average is $341.56. The company has a market capitalization of $15.59 billion, a PE ratio of 8.01, a price-to-earnings-growth ratio of 0.62 and a beta of 0.29. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $401.07. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $14.85 EPS for the quarter, topping analysts’ consensus estimates of $14.52 by $0.33. Everest Group had a return on equity of 14.70% and a net margin of 11.76%.The company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the previous year, the firm earned $16.10 EPS. The firm’s revenue was down 11.8% compared to the same quarter last year. Research analysts expect that Everest Group, Ltd. will post 52.86 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. Stockholders of record on Friday, June 12th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, June 12th. Everest Group’s payout ratio is 16.27%.

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.