Everest Group, Ltd. $EG Shares Purchased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC nearly doubled its stake in Everest Group in the fourth quarter, buying an additional 36,876 shares to own 74,073 shares worth about $25.3 million.
• Everest Group reported solid fundamentals, including Q1 EPS of $16.08, revenue of $4.07 billion, and a dividend of $2.00 per share, implying an annualized yield of 2.3%.
• Wall Street remains cautious on EG: analysts’ average rating is “Hold,” with an average price target of $370.07, while the stock recently traded around $345.98.

Hsbc Holdings PLC raised its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 99.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,073 shares of the company's stock after acquiring an additional 36,876 shares during the quarter. Hsbc Holdings PLC owned approximately 0.18% of Everest Group worth $25,274,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Everest Group by 70.3% in the third 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 last quarter. State Street Corp lifted its stake in Everest Group by 0.4% in the 4th quarter. State Street Corp now owns 1,906,692 shares of the company's stock valued at $647,036,000 after buying an additional 7,806 shares in the last quarter. Norges Bank purchased a new stake in Everest Group in the 4th quarter valued at approximately $630,277,000. Vulcan Value Partners LLC grew its holdings in Everest Group by 6.5% during the 4th quarter. Vulcan Value Partners LLC now owns 1,509,740 shares of the company's stock valued at $512,288,000 after buying an additional 92,274 shares during the last quarter. Finally, Geode Capital Management LLC increased its position 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 buying an additional 4,978 shares in the last quarter. Institutional investors and hedge funds own 92.64% of the company's stock.

Insider Buying and Selling

In other news, CEO Jason Keen sold 775 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $351.84, for a total transaction of $272,676.00. Following the completion of the transaction, the chief executive officer owned 8,170 shares of the company's stock, valued at $2,874,532.80. This represents a 8.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on EG shares. BMO Capital Markets upped their price objective on Everest Group from $366.00 to $376.00 and gave the company a "market perform" rating in a research report on Thursday, May 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of Everest Group in a research report on Friday, May 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Everest Group from $402.00 to $411.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. UBS Group set a $355.00 target price on shares of Everest Group in a report on Thursday, May 21st. Finally, Citigroup raised their price target on shares of Everest Group from $342.00 to $395.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $370.07.

Everest Group Trading Up 0.7%

Shares of Everest Group stock opened at $345.98 on Thursday. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $368.29. The business's fifty day moving average is $343.24 and its two-hundred day moving average is $334.13. 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 firm has a market cap of $13.69 billion, a PE ratio of 7.04, a P/E/G ratio of 0.53 and a beta of 0.31.

Everest Group (NYSE:EG - Get Free Report) last announced 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 during the quarter. Everest Group had a return on equity of 14.70% and a net margin of 11.76%. Analysts anticipate that Everest Group, Ltd. will post 52.79 earnings per share for the current year.

Everest Group Dividend Announcement

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

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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