CIBC Asset Management Inc Has $3.37 Million Position in Everest Group, Ltd. $EG

Key Points

• CIBC Asset Management boosted its stake in Everest Group by 66.3% in the fourth quarter, ending with 9,919 shares valued at about $3.37 million.
• Institutional ownership in Everest Group remains very high, with 92.64% of the stock held by institutions and hedge funds. Several other large investors also made significant moves in the name during recent quarters.
• Everest Group recently reported strong quarterly results, including $16.08 EPS on $4.07 billion in revenue, while also announcing a $2.00 quarterly dividend that implies a 2.4% annual yield.

CIBC Asset Management Inc increased its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 66.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,919 shares of the company's stock after purchasing an additional 3,955 shares during the quarter. CIBC Asset Management Inc's holdings in Everest Group were worth $3,366,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EG. Norges Bank acquired a new stake in Everest Group in the 4th quarter worth approximately $630,277,000. AQR Capital Management LLC lifted its holdings in Everest Group by 70.3% in the 3rd quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company's stock worth $695,275,000 after purchasing an additional 830,418 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Everest Group by 12,322.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company's stock worth $176,205,000 after purchasing an additional 515,063 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Everest Group by 157.5% in the 3rd quarter. Alliancebernstein L.P. now owns 291,886 shares of the company's stock worth $102,227,000 after purchasing an additional 178,536 shares during the last quarter. Finally, Causeway Capital Management LLC acquired a new stake in Everest Group in the 3rd quarter worth approximately $61,531,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Everest Group Stock Performance

EG opened at $334.49 on Monday. The stock has a market cap of $13.24 billion, a PE ratio of 6.80, a P/E/G ratio of 0.53 and a beta of 0.31. 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 $368.29. The stock's 50 day simple moving average is $340.60 and its 200-day simple moving average is $331.83.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings data on Monday, March 23rd. The company reported $16.08 earnings per share (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 forecast that Everest Group, Ltd. will post 52.62 EPS for the current year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a dividend of $2.00 per share. The ex-dividend date is Friday, June 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. Everest Group's payout ratio is currently 16.27%.

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group set a $355.00 price target on Everest Group in a research report on Thursday, May 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Everest Group in a research report on Friday, May 22nd. Bank of America lifted their price target on Everest Group from $430.00 to $454.00 and gave the stock a "buy" rating in a research report on Tuesday, April 14th. BMO Capital Markets lifted their price target on Everest Group from $366.00 to $376.00 and gave the stock a "market perform" rating in a research report on Thursday, May 14th. Finally, Morgan Stanley lifted their price target on Everest Group from $340.00 to $355.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 21st. Five analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Everest Group currently has a consensus rating of "Hold" and a consensus target price of $373.73.

Insider Activity

In other news, CEO Jason Keen sold 775 shares of the business's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $351.84, for a total transaction of $272,676.00. Following the sale, the chief executive officer directly owned 8,170 shares in the company, valued at approximately $2,874,532.80. The trade was a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.70% of the company's stock.

Everest Group Company 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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