Intech Investment Management LLC Sells 8,593 Shares of Everest Group, Ltd. $EG

Intech Investment Management LLC lessened its holdings in Everest Group, Ltd. (NYSE:EG) by 47.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,552 shares of the company’s stock after selling 8,593 shares during the quarter. Intech Investment Management LLC’s holdings in Everest Group were worth $3,241,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Activest Wealth Management purchased a new stake in Everest Group in the fourth quarter worth approximately $34,000. UMB Bank n.a. raised its position in Everest Group by 81.4% in the third quarter. UMB Bank n.a. now owns 107 shares of the company’s stock worth $37,000 after acquiring an additional 48 shares during the period. Cullen Frost Bankers Inc. bought a new position in Everest Group in the fourth quarter worth approximately $37,000. CYBER HORNET ETFs LLC bought a new stake in shares of Everest Group during the 2nd quarter valued at $39,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Everest Group during the 2nd quarter valued at $43,000. Institutional investors own 92.64% of the company’s stock.

Everest Group Stock Up 0.5%

EG stock opened at $325.52 on Tuesday. The firm’s fifty day simple moving average is $340.51 and its 200-day simple moving average is $331.87. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $368.29. The company has a market capitalization of $12.88 billion, a P/E ratio of 6.62, a price-to-earnings-growth ratio of 0.51 and a beta of 0.31. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.37 and a quick ratio of 0.37.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, March 23rd. The company reported $16.08 earnings per share (EPS) for the quarter. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. The firm had revenue of $4.07 billion for the quarter. As a group, equities research analysts forecast that Everest Group, Ltd. will post 52.62 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, June 12th. Everest Group’s dividend payout ratio is 16.27%.

Insider Activity at Everest Group

In other news, CEO Jason Keen sold 775 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $351.84, for a total value of $272,676.00. Following the completion of the sale, the chief executive officer directly owned 8,170 shares in the company, valued at $2,874,532.80. This represents a 8.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

EG has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of Everest Group from $366.00 to $376.00 and gave the company a “market perform” rating in a report on Thursday, May 14th. Morgan Stanley lifted their price target on shares of Everest Group from $340.00 to $355.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Barclays lifted their price target on shares of Everest Group from $377.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Mizuho lifted their price objective on shares of Everest Group from $365.00 to $388.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Bank of America boosted their price target on shares of Everest Group from $430.00 to $454.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Five research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, Everest Group currently has an average rating of “Hold” and an average target price of $373.73.

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.