Lecap Asset Management Ltd. Cuts Stock Holdings in Everest Group, Ltd. $EG

Lecap Asset Management Ltd. reduced its stake in shares of Everest Group, Ltd. (NYSE:EG) by 69.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,127 shares of the company’s stock after selling 2,601 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Everest Group were worth $395,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Board of the Pension Protection Fund purchased a new stake in Everest Group during the 2nd quarter valued at about $34,000. CYBER HORNET ETFs LLC purchased a new position in Everest Group in the 2nd quarter worth approximately $39,000. MUFG Securities EMEA plc bought a new stake in Everest Group in the second quarter valued at approximately $43,000. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Everest Group by 86.4% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the company’s stock valued at $53,000 after purchasing an additional 70 shares during the period. Finally, Allworth Financial LP boosted its stake in shares of Everest Group by 96.8% during the second quarter. Allworth Financial LP now owns 183 shares of the company’s stock valued at $62,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of Everest Group from $365.00 to $377.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen decreased their price objective on shares of Everest Group from $400.00 to $365.00 and set a “hold” rating on the stock in a research report on Monday, December 15th. Raymond James Financial reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Everest Group in a research note on Monday, November 3rd. Cowen reissued a “hold” rating on shares of Everest Group in a research note on Tuesday, October 7th. Finally, Wells Fargo & Company reduced their price target on Everest Group from $383.00 to $343.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 29th. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $369.40.

Everest Group Stock Down 1.5%

Shares of NYSE EG opened at $332.93 on Friday. The firm has a fifty day simple moving average of $324.24 and a two-hundred day simple moving average of $334.16. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $373.23. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $13.98 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 0.24 and a beta of 0.38.

Everest Group (NYSE:EG) last announced its earnings results on Monday, October 27th. The company reported $7.54 earnings per share for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). Everest Group had a net margin of 3.12% and a return on equity of 3.74%. The company had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $3.86 billion. During the same period in the previous year, the firm posted $11.80 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Wednesday, November 26th were issued a dividend of $2.00 per share. The ex-dividend date was Wednesday, November 26th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. Everest Group’s dividend payout ratio is 60.93%.

Insider Activity at Everest Group

In other news, Director Allan Levine purchased 3,100 shares of Everest Group stock in a transaction that occurred on Wednesday, October 29th. The shares were bought at an average cost of $306.08 per share, with a total value of $948,848.00. Following the completion of the purchase, the director directly owned 4,153 shares in the company, valued at approximately $1,271,150.24. This trade represents a 294.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William F. Galtney, Jr. acquired 11,385 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was purchased at an average price of $307.38 per share, with a total value of $3,499,521.30. Following the acquisition, the director owned 45,491 shares of the company’s stock, valued at $13,983,023.58. This represents a 33.38% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is currently owned by corporate insiders.

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.