Earnest Partners LLC Sells 1,821 Shares of Everest Group, Ltd. $EG

Earnest Partners LLC reduced its position in Everest Group, Ltd. (NYSE:EG) by 0.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,227 shares of the company’s stock after selling 1,821 shares during the period. Earnest Partners LLC owned 0.57% of Everest Group worth $83,434,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Everest Group in the 2nd quarter worth approximately $601,300,000. AQR Capital Management LLC boosted its position 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 last quarter. Altrinsic Global Advisors LLC grew its holdings in shares of Everest Group by 37.2% in the second quarter. Altrinsic Global Advisors LLC now owns 937,296 shares of the company’s stock valued at $318,540,000 after purchasing an additional 254,317 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Everest Group by 157.5% in the third quarter. Alliancebernstein L.P. now owns 291,886 shares of the company’s stock valued at $102,227,000 after purchasing an additional 178,536 shares in the last quarter. Finally, Causeway Capital Management LLC bought a new stake in Everest Group in the third quarter worth $61,531,000. 92.64% of the stock is owned by institutional investors.

Everest Group Stock Down 0.6%

NYSE EG opened at $320.46 on Monday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.23. Everest Group, Ltd. has a 52 week low of $302.44 and a 52 week high of $370.20. The firm has a market capitalization of $12.94 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 0.23 and a beta of 0.34. The company has a fifty day moving average of $330.72 and a two-hundred day moving average of $332.40.

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

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, March 13th. Everest Group’s dividend payout ratio is presently 21.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on EG shares. UBS Group reaffirmed a “buy” rating and set a $345.00 price target on shares of Everest Group in a research note on Monday, January 12th. TD Cowen dropped their price objective on shares of Everest Group from $400.00 to $365.00 and set a “hold” rating for the company in a research note on Monday, December 15th. Wells Fargo & Company reduced their target price on shares of Everest Group from $332.00 to $310.00 and set an “equal weight” rating on the stock in a report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everest Group in a report on Thursday, January 22nd. Finally, Evercore set a $365.00 price target on Everest Group in a research report on Wednesday, January 7th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $363.21.

Everest Group Company 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.