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

Earnest Partners LLC trimmed its holdings in Everest Group, Ltd. (NYSE:EG) by 0.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 238,227 shares of the company’s stock after selling 1,821 shares during the period. Earnest Partners LLC’s holdings in Everest Group were worth $83,434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EG. Darwin Wealth Management LLC boosted its holdings in Everest Group by 6.2% during the 3rd quarter. Darwin Wealth Management LLC now owns 568 shares of the company’s stock valued at $199,000 after acquiring an additional 33 shares during the period. 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. Van ECK Associates Corp lifted its position in shares of Everest Group by 6.4% during the third quarter. Van ECK Associates Corp now owns 744 shares of the company’s stock worth $261,000 after purchasing an additional 45 shares during the last quarter. Finally, UMB Bank n.a. lifted its position 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 worth $37,000 after purchasing an additional 48 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. TD Cowen cut their price target on shares of Everest Group from $400.00 to $365.00 and set a “hold” rating on the stock in a report on Monday, December 15th. Cantor Fitzgerald decreased their price objective on shares of Everest Group from $348.00 to $344.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Mizuho set a $360.00 price objective on shares of Everest Group in a research report on Wednesday, February 11th. Evercore set a $365.00 target price on shares of Everest Group in a research note on Wednesday, January 7th. Finally, 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. Six investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $363.21.

Everest Group Stock Performance

EG stock opened at $320.46 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.39 and a quick ratio of 0.39. The business has a 50-day moving average price of $330.72 and a 200 day moving average price of $332.40. The company has a market capitalization of $12.94 billion, a P/E ratio of 8.46, a PEG ratio of 0.23 and a beta of 0.34. Everest Group, Ltd. has a 1-year low of $302.44 and a 1-year high of $370.20.

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

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a dividend of $2.00 per share. The ex-dividend date is Friday, March 13th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.5%. Everest Group’s dividend payout ratio (DPR) is currently 21.13%.

About Everest Group

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.