Everest Group, Ltd. $EG Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP cut its stake by 44.4% in Q3, selling 273,003 shares and now owning 342,367 shares (about 0.82% of Everest Group, ~$119.9M); institutional investors hold 92.64% of the stock.
• Everest Group announced a quarterly dividend of $2.00 (annualized $8.00) payable March 27 with record/ex-dividend dates on March 13, implying a 2.4% yield and a 21.13% payout ratio.
• In the latest quarter Everest reported EPS of $13.26, narrowly missing estimates by $0.10 while beating revenue estimates ($4.42B vs. $3.97B); the stock trades at a P/E of 8.83 and carries a MarketBeat consensus rating of "Hold" with a $363.21 target.

First Trust Advisors LP cut its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 44.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 342,367 shares of the company's stock after selling 273,003 shares during the quarter. First Trust Advisors LP owned approximately 0.82% of Everest Group worth $119,907,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC grew its stake in Everest Group by 6.2% during the 3rd quarter. Darwin Wealth Management LLC now owns 568 shares of the company's stock worth $199,000 after buying an additional 33 shares during the last quarter. Trail Ridge Investment Advisors LLC lifted its stake in Everest Group by 3.3% in the third quarter. Trail Ridge Investment Advisors LLC now owns 1,236 shares of the company's stock valued at $433,000 after buying an additional 40 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of Everest Group by 2.8% during the third quarter. Wealthfront Advisers LLC now owns 1,466 shares of the company's stock valued at $513,000 after acquiring an additional 40 shares during the period. UMB Bank n.a. boosted its holdings in shares of Everest Group by 81.4% during the third quarter. UMB Bank n.a. now owns 107 shares of the company's stock valued at $37,000 after acquiring an additional 48 shares during the period. Finally, Hartford Investment Management Co. grew its position in shares of Everest Group by 1.7% during the third quarter. Hartford Investment Management Co. now owns 3,441 shares of the company's stock worth $1,205,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 92.64% of the company's stock.

Everest Group Stock Up 0.4%

Everest Group stock opened at $334.30 on Monday. Everest Group, Ltd. has a 52 week low of $302.44 and a 52 week high of $370.20. The stock has a market cap of $13.50 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 0.24 and a beta of 0.34. The company's 50-day moving average price is $332.25 and its two-hundred day moving average price is $333.07. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $13.26 earnings per share for the quarter, missing analysts' consensus estimates of $13.36 by ($0.10). The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $3.97 billion. Everest Group had a return on equity of 12.50% and a net margin of 9.09%.The company's revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the company posted ($18.39) earnings per share. On average, analysts expect that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently weighed in on EG shares. TD Cowen cut their price objective on shares of Everest Group from $400.00 to $365.00 and set a "hold" rating on the stock in a research report on Monday, December 15th. Keefe, Bruyette & Woods raised their price target on shares of Everest Group from $400.00 to $430.00 and gave the company an "outperform" rating in a research note on Tuesday, January 6th. UBS Group reaffirmed a "buy" rating and set a $345.00 price target on shares of Everest Group in a report on Monday, January 12th. Barclays increased their price objective on Everest Group from $365.00 to $377.00 and gave the stock an "overweight" rating in a report on Thursday, January 8th. Finally, Wells Fargo & Company lowered their target price on Everest Group from $332.00 to $310.00 and set an "equal weight" rating on the stock in a research report on Friday, February 6th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $363.21.

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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