Assetmark Inc. Has $94.08 Million Holdings in Everest Group, Ltd. $EG

Key Points

• Assetmark Inc. increased its stake in Everest Group by 2.7% in the first quarter, bringing its holdings to 287,847 shares worth about $94.1 million.
• Institutional ownership remains high, with 92.64% of Everest Group shares held by institutional investors. Several other hedge funds also added or initiated positions in the stock.
• Wall Street is cautious overall: analysts have a consensus rating of Hold on EG, with a consensus price target of $387.73, while CEO Jason Keen recently sold 775 shares.

Assetmark Inc. boosted its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 287,847 shares of the company's stock after buying an additional 7,539 shares during the period. Assetmark Inc. owned approximately 0.58% of Everest Group worth $94,083,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its position in Everest Group by 98.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 181 shares of the company's stock valued at $66,000 after buying an additional 90 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Everest Group during the 2nd quarter worth approximately $384,000. Marshall Wace LLP bought a new stake in Everest Group during the 2nd quarter worth approximately $238,000. Jump Financial LLC purchased a new stake in shares of Everest Group in the second quarter worth approximately $1,510,000. Finally, Federated Hermes Inc. raised its stake in shares of Everest Group by 3.7% in the second quarter. Federated Hermes Inc. now owns 14,411 shares of the company's stock worth $4,898,000 after purchasing an additional 510 shares during the last quarter. 92.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EG. Atlantic Securities set a $484.00 target price on Everest Group in a research report on Wednesday. UBS Group set a $355.00 price target on Everest Group in a research report on Thursday, May 21st. Morgan Stanley raised their price objective on Everest Group from $355.00 to $360.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods lifted their price objective on shares of Everest Group from $411.00 to $414.00 and gave the stock an "outperform" rating in a report on Wednesday, July 8th. Finally, Wells Fargo & Company raised their price target on shares of Everest Group from $356.00 to $373.00 and gave the company an "equal weight" rating in a research report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, Everest Group currently has a consensus rating of "Hold" and a consensus price target of $387.73.

Insiders Place Their Bets

In related news, CEO Jason Keen sold 775 shares of Everest Group stock in a transaction dated Thursday, May 7th. The stock was 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 owned 8,170 shares of the company's stock, valued at approximately $2,874,532.80. This trade represents a 8.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company's stock.

Everest Group Trading Up 2.4%

Shares of EG stock opened at $372.92 on Friday. The company has a 50 day moving average of $349.20 and a 200-day moving average of $338.63. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.23. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $379.21. The firm has a market cap of $14.76 billion, a P/E ratio of 7.58, a PEG ratio of 0.55 and a beta of 0.29.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings data on Monday, March 23rd. The company reported $16.08 EPS for the quarter. The business had revenue of $4.07 billion for the quarter. Everest Group had a return on equity of 14.70% and a net margin of 11.76%. Sell-side analysts anticipate that Everest Group, Ltd. will post 53.05 earnings per share for the current year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $2.00 per share. The ex-dividend date was Friday, June 12th. This represents a $8.00 annualized dividend and a dividend yield of 2.1%. Everest Group's dividend payout ratio is presently 16.27%.

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.

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