112,024 Shares in Everest Group, Ltd. $EG Acquired by SEB Asset Management AB

Key Points

• SEB Asset Management AB opened a new position in Everest Group during the first quarter, buying 112,024 shares worth about $36.6 million and holding 0.23% of the company.
• Everest Group continues to attract institutional interest, with several other funds adding positions; overall, institutional investors own 92.64% of the stock.
• The company recently reported Q1 EPS of $16.08 on $4.07 billion in revenue and also paid a $2.00 quarterly dividend, equal to a 2.1% annualized yield.

SEB Asset Management AB acquired a new stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 112,024 shares of the company's stock, valued at approximately $36,615,000. SEB Asset Management AB owned 0.23% of Everest Group as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of EG. Geneos Wealth Management Inc. boosted its position in shares of Everest Group by 98.9% during the first quarter. Geneos Wealth Management Inc. now owns 181 shares of the company's stock worth $66,000 after purchasing an additional 90 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Everest Group in the 2nd quarter valued at $384,000. Marshall Wace LLP bought a new stake in shares of Everest Group in the 2nd quarter valued at $238,000. Jump Financial LLC acquired a new stake in Everest Group during the 2nd quarter worth $1,510,000. Finally, Federated Hermes Inc. raised its stake in Everest Group by 3.7% during the 2nd quarter. Federated Hermes Inc. now owns 14,411 shares of the company's stock worth $4,898,000 after buying an additional 510 shares during the period. Institutional investors own 92.64% of the company's stock.

Insider Activity

In related news, CEO Jason Keen sold 775 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $351.84, for a total transaction of $272,676.00. Following the completion of the transaction, the chief executive officer directly owned 8,170 shares in the company, valued at approximately $2,874,532.80. This trade represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.70% of the company's stock.

Everest Group Price Performance

Shares of NYSE EG opened at $382.76 on Monday. The firm has a market cap of $15.15 billion, a PE ratio of 7.78, a PEG ratio of 0.59 and a beta of 0.29. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.23. Everest Group, Ltd. has a 1-year low of $302.44 and a 1-year high of $385.69. The company has a fifty day moving average price of $349.83 and a 200 day moving average price of $338.93.

Everest Group (NYSE:EG - Get Free Report) last released its earnings results on Monday, March 23rd. The company reported $16.08 earnings per share (EPS) for the quarter. Everest Group had a return on equity of 14.70% and a net margin of 11.76%.The firm had revenue of $4.07 billion during the quarter. Research analysts predict that Everest Group, Ltd. will post 52.88 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company 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. The ex-dividend date was Friday, June 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.1%. Everest Group's dividend payout ratio (DPR) is presently 16.27%.

Analysts Set New Price Targets

A number of research firms have issued reports on EG. Mizuho boosted their target price on Everest Group from $388.00 to $418.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Cantor Fitzgerald raised their price target on Everest Group from $344.00 to $390.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Bank of America lifted their price objective on Everest Group from $430.00 to $454.00 and gave the company a "buy" rating in a report on Tuesday, April 14th. Evercore set a $375.00 price objective on Everest Group in a research report on Friday, July 10th. Finally, Atlantic Securities set a $484.00 target price on Everest Group in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $387.73.

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.

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