Pacer Advisors Inc. Decreases Stake in Everest Group, Ltd. $EG

Pacer Advisors Inc. lowered its stake in Everest Group, Ltd. (NYSE:EG) by 53.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,030 shares of the company’s stock after selling 2,347 shares during the quarter. Pacer Advisors Inc.’s holdings in Everest Group were worth $664,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Everest Group in the fourth quarter worth approximately $630,277,000. AQR Capital Management LLC raised its holdings in 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 buying an additional 830,418 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in 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 buying an additional 515,063 shares during the period. Hsbc Holdings PLC boosted its position in Everest Group by 507.4% during the 1st quarter. Hsbc Holdings PLC now owns 449,919 shares of the company’s stock valued at $147,102,000 after buying an additional 375,846 shares during the period. Finally, Balyasny Asset Management L.P. grew 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 during the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

EG stock opened at $369.26 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35. Everest Group, Ltd. has a 1 year low of $302.44 and a 1 year high of $401.07. The firm has a 50-day moving average of $359.66 and a 200 day moving average of $344.33. The company has a market cap of $14.16 billion, a P/E ratio of 7.81, a PEG ratio of 0.74 and a beta of 0.29.

Everest Group (NYSE:EG) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $14.85 earnings per share for the quarter, beating the consensus estimate of $14.52 by $0.33. Everest Group had a return on equity of 13.63% and a net margin of 11.41%.The business 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 posted $16.10 EPS. The business’s revenue was down 11.8% on a year-over-year basis. On average, sell-side analysts forecast that Everest Group, Ltd. will post 53.13 EPS for the current year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a dividend of $2.00 per share. The ex-dividend date was Friday, June 12th. This represents a $8.00 annualized dividend and a dividend yield of 2.2%. Everest Group’s payout ratio is currently 16.92%.

Analysts Set New Price Targets

EG has been the topic of a number of analyst reports. Barclays boosted their price objective on shares of Everest Group from $420.00 to $430.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. Atlantic Securities set a $484.00 target price on Everest Group in a research note on Wednesday, July 15th. Bank of America raised their target price on Everest Group from $430.00 to $454.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Wells Fargo & Company upped their price target on Everest Group from $373.00 to $396.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Finally, Mizuho dropped their price objective on Everest Group from $418.00 to $416.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $393.93.

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.