Everest Group, Ltd. $EG Holdings Decreased by Assetmark Inc.

Key Points

• Assetmark cut its stake in Everest Group by 33.8% in Q4, selling 143,062 shares and leaving 280,308 shares valued at about $95.1M, while institutional investors collectively own 92.64% of EG.
• Everest Group reported Q (quarter) EPS of $13.26, missing estimates by $0.10, while revenue beat at $4.42B but was down 4.6% year-over-year; analysts forecast about 47.93 EPS for the fiscal year.
• Analysts' coverage is mixed with a consensus rating of Hold and an average price target of $357.23, including recent divergent moves such as Barclays raising its target to $380 and Wells Fargo cutting theirs to $304.

Assetmark Inc. decreased its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 33.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 280,308 shares of the company's stock after selling 143,062 shares during the quarter. Assetmark Inc. owned 0.67% of Everest Group worth $95,123,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. State of Alaska Department of Revenue grew its holdings in shares of Everest Group by 24.3% during the fourth quarter. State of Alaska Department of Revenue now owns 8,052 shares of the company's stock valued at $2,732,000 after buying an additional 1,575 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in Everest Group by 31.7% during the fourth quarter. Deprince Race & Zollo Inc. now owns 121,630 shares of the company's stock valued at $41,275,000 after purchasing an additional 29,299 shares during the last quarter. Choreo LLC acquired a new stake in Everest Group during the fourth quarter valued at $317,000. Bartlett & CO. Wealth Management LLC boosted its position in Everest Group by 2.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 1,682 shares of the company's stock valued at $571,000 after purchasing an additional 34 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in Everest Group during the fourth quarter valued at $316,000. Hedge funds and other institutional investors own 92.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EG shares. Wells Fargo & Company reduced their price objective on Everest Group from $310.00 to $304.00 and set an "equal weight" rating for the company in a research report on Thursday, April 9th. Barclays lifted their price objective on Everest Group from $377.00 to $380.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. Cantor Fitzgerald reduced their price objective on Everest Group from $348.00 to $344.00 and set a "neutral" rating for the company in a research report on Wednesday, January 14th. Weiss Ratings reissued a "hold (c)" rating on shares of Everest Group in a research report on Thursday, January 22nd. Finally, UBS Group reissued a "buy" rating and set a $345.00 price objective on shares of Everest Group in a research report on Monday, January 12th. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Everest Group presently has a consensus rating of "Hold" and an average price target of $357.23.

Everest Group Price Performance

Shares of NYSE:EG opened at $333.52 on Tuesday. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $368.29. The business has a 50-day moving average of $329.94 and a two-hundred day moving average of $330.03. The stock has a market capitalization of $13.47 billion, a P/E ratio of 8.81, a P/E/G ratio of 0.24 and a beta of 0.34. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.39 and a quick ratio of 0.39.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The company reported $13.26 earnings per share for the quarter, missing analysts' consensus estimates of $13.36 by ($0.10). Everest Group had a return on equity of 12.50% and a net margin of 9.09%.The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period in the prior year, the firm earned ($18.39) EPS. Everest Group's quarterly revenue was down 4.6% on a year-over-year basis. On average, equities research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $2.00 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.4%. Everest Group's payout ratio is currently 21.13%.

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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