Fideuram Intesa Sanpaolo Private Banking S.P.A. Sells 35,949 Shares of Everest Group, Ltd. $EG

Key Points

• Fideuram Intesa Sanpaolo Private Banking cut its Everest Group stake by 82.5% in the first quarter, selling 35,949 shares and leaving it with 7,607 shares worth about $2.49 million.
• Other institutional investors remain heavily involved in EG, with institutional ownership at 92.64% of the company’s stock. Large holders such as AQR Capital Management, State Street, and Norges Bank also reported significant positions.
• Everest Group’s stock opened at $371.55, near its 12-month high, while analysts currently rate it a Hold overall with a consensus price target of $370.07. The company also recently paid a quarterly dividend of $2.00 per share, or $8.00 annualized.

Fideuram Intesa Sanpaolo Private Banking S.P.A. trimmed its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 82.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,607 shares of the company's stock after selling 35,949 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.'s holdings in Everest Group were worth $2,486,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of EG. AQR Capital Management LLC raised its stake in 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 acquiring an additional 830,418 shares during the period. State Street Corp grew its holdings in Everest Group by 0.4% during 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 during the 4th quarter valued at approximately $630,277,000. Vulcan Value Partners LLC raised its position in shares of Everest Group by 6.5% during the fourth 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 lifted its holdings in shares of Everest Group by 0.4% in 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 own 92.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on EG. Weiss Ratings reissued a "hold (c)" rating on shares of Everest Group in a report on Friday, May 22nd. UBS Group set a $355.00 target price on Everest Group in a research report on Thursday, May 21st. Mizuho boosted their target price on Everest Group from $365.00 to $388.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. BMO Capital Markets increased their price target on Everest Group from $366.00 to $376.00 and gave the company a "market perform" rating in a research note on Thursday, May 14th. Finally, Morgan Stanley increased their target price on Everest Group from $340.00 to $355.00 and gave the company an "equal weight" rating in a research report on Thursday, May 21st. Four analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $370.07.

Insider Activity at Everest Group

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 value of $272,676.00. Following the transaction, the chief executive officer directly owned 8,170 shares in the company, valued at approximately $2,874,532.80. This represents a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company's stock.

Everest Group Price Performance

EG stock opened at $371.55 on Friday. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $372.36. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $345.03 and a 200 day moving average price of $336.15. The stock has a market cap of $14.70 billion, a PE ratio of 7.56, a P/E/G ratio of 0.57 and a beta of 0.29.

Everest Group (NYSE:EG - Get Free Report) last posted its quarterly earnings data on Monday, March 23rd. The company reported $16.08 earnings per share for the quarter. 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. Equities research analysts anticipate that Everest Group, Ltd. will post 52.79 earnings per share for the current year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, June 12th. Everest Group's payout ratio is currently 16.27%.

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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