Shell Asset Management Co. Trims Stake in Everest Group, Ltd. $EG

Shell Asset Management Co. lowered its position in Everest Group, Ltd. (NYSE:EG) by 85.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,936 shares of the company’s stock after selling 11,179 shares during the period. Shell Asset Management Co.’s holdings in Everest Group were worth $678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Darwin Wealth Management LLC lifted its stake in shares of Everest Group by 6.2% during the 3rd quarter. Darwin Wealth Management LLC now owns 568 shares of the company’s stock worth $199,000 after acquiring an additional 33 shares during the last quarter. Trail Ridge Investment Advisors LLC increased its stake in Everest Group by 3.3% in the third quarter. Trail Ridge Investment Advisors LLC now owns 1,236 shares of the company’s stock worth $433,000 after purchasing an additional 40 shares during the period. Wealthfront Advisers LLC increased its stake in Everest Group by 2.8% in the third quarter. Wealthfront Advisers LLC now owns 1,466 shares of the company’s stock worth $513,000 after purchasing an additional 40 shares during the period. Legacy Wealth Asset Management LLC lifted its position in shares of Everest Group by 2.9% during the second quarter. Legacy Wealth Asset Management LLC now owns 1,493 shares of the company’s stock worth $507,000 after purchasing an additional 42 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Everest Group by 81.4% during the third quarter. UMB Bank n.a. now owns 107 shares of the company’s stock valued at $37,000 after purchasing an additional 48 shares during the period. Institutional investors own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on EG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everest Group in a research note on Thursday, January 22nd. Barclays raised their target price on shares of Everest Group from $365.00 to $377.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Wall Street Zen downgraded shares of Everest Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Evercore set a $365.00 price target on Everest Group in a report on Wednesday, January 7th. Finally, Wells Fargo & Company reduced their price objective on Everest Group from $332.00 to $310.00 and set an “equal weight” rating on the stock in a report on Friday, February 6th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $363.21.

Everest Group Price Performance

NYSE EG opened at $337.44 on Tuesday. The company has a market cap of $14.17 billion, a PE ratio of 8.91, a P/E/G ratio of 0.25 and a beta of 0.36. The firm’s 50 day moving average price is $329.65 and its 200-day moving average price is $332.45. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.39 and a current ratio of 0.37. Everest Group, Ltd. has a 52-week low of $302.44 and a 52-week high of $370.20.

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

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.