Everest Group, Ltd. $EG Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management trimmed its stake by 38%, selling 11,867 shares and now holds 19,379 shares of Everest Group valued at about $6.58 million; overall institutional ownership is very high at 92.64% with large increases from firms like AQR and Vulcan.
• EPS beat but revenue lagged: Everest reported $16.08 EPS versus $13.97 expected, while revenue fell 4.6% year-over-year to $4.07 billion (below the $4.17 billion estimate); the stock trades at a P/E of 7.19 and a market cap of $17.59 billion.
• Dividend and analyst view: Everest pays a $2.00 quarterly dividend ($8.00 annual, 2.3% yield, 16.27% payout ratio), and analysts hold an average rating of "Hold" with an average target price of $366.14 (six Buys, ten Holds).

Pictet Asset Management Holding SA trimmed its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 38.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,379 shares of the company's stock after selling 11,867 shares during the quarter. Pictet Asset Management Holding SA's holdings in Everest Group were worth $6,576,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of EG. AQR Capital Management LLC increased its holdings in shares of 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 acquiring an additional 830,418 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Everest Group by 157.5% in the 3rd quarter. Alliancebernstein L.P. now owns 291,886 shares of the company's stock valued at $102,227,000 after acquiring an additional 178,536 shares during the period. Causeway Capital Management LLC acquired a new position in shares of Everest Group in the 3rd quarter valued at $61,531,000. Vulcan Value Partners LLC increased its holdings in shares of Everest Group by 13.9% in the 3rd quarter. Vulcan Value Partners LLC now owns 1,417,466 shares of the company's stock valued at $496,514,000 after acquiring an additional 172,479 shares during the period. Finally, Boston Partners increased its holdings in shares of Everest Group by 28.9% in the 3rd quarter. Boston Partners now owns 729,019 shares of the company's stock valued at $255,334,000 after acquiring an additional 163,316 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Stock Performance

Shares of EG opened at $353.54 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.39 and a current ratio of 0.35. The stock has a market capitalization of $17.59 billion, a P/E ratio of 7.19, a P/E/G ratio of 0.26 and a beta of 0.35. The company's fifty day moving average is $333.26 and its two-hundred day moving average is $329.43. Everest Group, Ltd. has a 1 year low of $302.44 and a 1 year high of $368.29.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $16.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $13.97 by $2.11. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. The company had revenue of $4.07 billion for the quarter, compared to analysts' expectations of $4.17 billion. During the same period in the previous year, the company posted $6.45 EPS. Everest Group's revenue was down 4.6% compared to the same quarter last year. On average, sell-side analysts predict that Everest Group, Ltd. will post 53.31 earnings per share for the current year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were paid a dividend of $2.00 per share. 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 2.3%. Everest Group's dividend payout ratio is 16.27%.

Analyst Ratings Changes

A number of equities analysts have recently commented on EG shares. Keefe, Bruyette & Woods cut their target price on shares of Everest Group from $430.00 to $402.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Evercore set a $365.00 target price on shares of Everest Group in a report on Wednesday, January 7th. Wells Fargo & Company lifted their target price on shares of Everest Group from $304.00 to $332.00 and gave the company an "equal weight" rating in a report on Thursday, April 16th. UBS Group reaffirmed a "buy" rating and issued a $345.00 target price on shares of Everest Group in a report on Monday, January 12th. Finally, Bank of America boosted their price objective on shares of Everest Group from $430.00 to $454.00 and gave the company a "buy" rating in a research note on Tuesday, April 14th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $366.14.

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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