Employees Retirement System of Texas Sells 12,207 Shares of Everest Group, Ltd. $EG

Key Points

• Employees Retirement System of Texas cut its Everest Group stake by 44% in the fourth quarter, selling 12,207 shares and leaving it with 15,547 shares valued at about $5.28 million.
• Institutional ownership remains very high, with 92.64% of Everest Group’s stock held by institutional investors, and several large funds reported recent increases in their positions.
• Everest Group also announced a quarterly dividend of $2.00 per share payable on June 26, while analysts currently rate the stock a consensus “Hold” with an average price target of $373.73.

Employees Retirement System of Texas reduced its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 44.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,547 shares of the company's stock after selling 12,207 shares during the period. Employees Retirement System of Texas' holdings in Everest Group were worth $5,276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in EG. AQR Capital Management LLC boosted 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 valued at $695,275,000 after purchasing an additional 830,418 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Everest Group by 12,322.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company's stock valued at $176,205,000 after buying an additional 515,063 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Everest Group by 157.5% in the third quarter. Alliancebernstein L.P. now owns 291,886 shares of the company's stock valued at $102,227,000 after buying an additional 178,536 shares during the period. Causeway Capital Management LLC acquired a new stake in Everest Group during the third quarter worth approximately $61,531,000. Finally, Vulcan Value Partners LLC increased its stake in Everest Group by 13.9% during the 3rd quarter. Vulcan Value Partners LLC now owns 1,417,466 shares of the company's stock worth $496,514,000 after acquiring an additional 172,479 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Insider Activity at Everest Group

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

Everest Group Stock Performance

Shares of EG stock opened at $343.17 on Thursday. The firm has a market capitalization of $13.58 billion, a price-to-earnings ratio of 6.98, a PEG ratio of 0.55 and a beta of 0.35. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.23. The business's 50-day moving average price is $340.01 and its 200-day moving average price is $331.84. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $368.29.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $4.07 billion during the quarter. Equities research analysts forecast that Everest Group, Ltd. will post 52.58 EPS for the current year.

Everest Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, June 12th. Everest Group's payout ratio is 16.27%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on EG shares. Keefe, Bruyette & Woods upped their target price on Everest Group from $402.00 to $411.00 and gave the company an "outperform" rating in a research report on Wednesday, May 6th. Weiss Ratings restated a "hold (c)" rating on shares of Everest Group in a research report on Friday, May 22nd. Mizuho upped their price objective on shares of Everest Group from $365.00 to $388.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Wells Fargo & Company increased their price objective on shares of Everest Group from $332.00 to $356.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley raised their target price on shares of Everest Group from $340.00 to $355.00 and gave the company an "equal weight" rating in a report on Thursday, May 21st. Five analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, Everest Group presently has an average rating of "Hold" and a consensus price target of $373.73.

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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