Everest Group, Ltd. $EG Holdings Increased by Balyasny Asset Management L.P.

Key Points

• Balyasny Asset Management increased its stake in Everest Group by 181.2% in the fourth quarter, ending with 498,697 shares valued at about $169.2 million.
• Institutional ownership remains very high, with 92.64% of Everest Group shares held by institutions. Several other large investors also boosted or initiated positions during the period.
• Everest Group reported Q1 earnings of $16.08 per share on $4.07 billion in revenue and declared a quarterly dividend of $2.00 per share, equal to a 2.4% yield.

Balyasny Asset Management L.P. grew its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 181.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 498,697 shares of the company's stock after buying an additional 321,376 shares during the quarter. Balyasny Asset Management L.P. owned about 1.19% of Everest Group worth $169,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC raised its position in shares of Everest Group by 70.3% during the 3rd quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company's stock worth $695,275,000 after buying an additional 830,418 shares in the last quarter. State Street Corp grew its holdings in Everest Group by 0.4% during the fourth quarter. State Street Corp now owns 1,906,692 shares of the company's stock worth $647,036,000 after acquiring an additional 7,806 shares during the period. Norges Bank acquired a new position in Everest Group during the fourth quarter worth about $630,277,000. Vulcan Value Partners LLC grew its holdings in Everest Group by 6.5% during the fourth quarter. Vulcan Value Partners LLC now owns 1,509,740 shares of the company's stock worth $512,288,000 after acquiring an additional 92,274 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Everest Group by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,170,210 shares of the company's stock worth $395,671,000 after acquiring an additional 4,978 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Everest Group Stock Performance

EG opened at $337.48 on Thursday. The firm has a market cap of $13.35 billion, a PE ratio of 6.86, a P/E/G ratio of 0.52 and a beta of 0.31. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $342.41 and a 200-day simple moving average of $333.18. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $368.29.

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 for the quarter. The business had revenue of $4.07 billion during the quarter. Everest Group had a return on equity of 14.70% and a net margin of 11.76%. As a group, equities analysts predict that Everest Group, Ltd. will post 52.79 EPS for the current fiscal year.

Everest Group Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group set a $355.00 target price on Everest Group in a report on Thursday, May 21st. BMO Capital Markets lifted their target price on Everest Group from $366.00 to $376.00 and gave the stock a "market perform" rating in a report on Thursday, May 14th. Citigroup lifted their target price on Everest Group from $342.00 to $395.00 and gave the stock a "neutral" rating in a report on Tuesday, May 12th. Mizuho lifted their target price on Everest Group from $365.00 to $388.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Finally, Barclays lifted their target price on Everest Group from $377.00 to $380.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Five research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, Everest Group presently has an average rating of "Hold" and an average price target of $373.73.

Insider Activity at Everest Group

In related news, CEO Jason Keen sold 775 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 8,170 shares in the company, valued at approximately $2,874,532.80. This represents a 8.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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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