The Manufacturers Life Insurance Company Sells 3,090 Shares of Everest Group, Ltd. $EG

The Manufacturers Life Insurance Company cut its stake in shares of Everest Group, Ltd. (NYSE:EG) by 10.3% in the first quarter, Holdings Channel reports. The firm owned 27,005 shares of the company’s stock after selling 3,090 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Everest Group were worth $8,827,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC lifted its stake in Everest Group by 2.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 1,682 shares of the company’s stock valued at $571,000 after buying an additional 34 shares during the period. Siemens Fonds Invest GmbH increased its stake in shares of Everest Group by 3.3% in the 4th quarter. Siemens Fonds Invest GmbH now owns 1,067 shares of the company’s stock valued at $364,000 after acquiring an additional 34 shares during the last quarter. V Square Quantitative Management LLC increased its stake in shares of Everest Group by 4.0% in the 1st quarter. V Square Quantitative Management LLC now owns 968 shares of the company’s stock valued at $316,000 after acquiring an additional 37 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in shares of Everest Group by 27.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 171 shares of the company’s stock valued at $58,000 after acquiring an additional 37 shares during the period. Finally, GenTrust LLC raised its position in shares of Everest Group by 4.8% in the 4th quarter. GenTrust LLC now owns 874 shares of the company’s stock valued at $297,000 after acquiring an additional 40 shares during the period. Institutional investors own 92.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Atlantic Securities set a $484.00 price objective on shares of Everest Group in a report on Wednesday, July 15th. Cantor Fitzgerald increased their target price on shares of Everest Group from $344.00 to $390.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Wells Fargo & Company lifted their price target on shares of Everest Group from $373.00 to $396.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Evercore set a $377.00 price target on shares of Everest Group in a report on Thursday, July 30th. Finally, Morgan Stanley upped 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. Four analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $393.93.

Insider Buying and Selling

In related news, CEO Jason Keen sold 775 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $351.84, for a total value of $272,676.00. Following the sale, the chief executive officer directly owned 8,170 shares of the company’s stock, valued at approximately $2,874,532.80. The trade was a 8.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Everest Group Price Performance

Shares of EG opened at $369.26 on Wednesday. The stock has a 50 day simple moving average of $356.45 and a 200 day simple moving average of $342.87. Everest Group, Ltd. has a 52-week low of $302.44 and a 52-week high of $401.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.37 and a current ratio of 0.35. The firm has a market capitalization of $14.61 billion, a PE ratio of 7.81, a P/E/G ratio of 0.74 and a beta of 0.29.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, July 29th. The company reported $14.85 EPS for the quarter, topping the consensus estimate of $14.52 by $0.33. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the company posted $16.10 EPS. The business’s quarterly revenue was down 11.8% on a year-over-year basis. Sell-side analysts predict that Everest Group, Ltd. will post 52.69 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, June 12th. Everest Group’s dividend payout ratio (DPR) is presently 16.92%.

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.