Hsbc Holdings PLC Purchases 375,846 Shares of Everest Group, Ltd. $EG

Key Points

• HSBC Holdings PLC increased its stake in Everest Group by 507.4% in Q1, buying 375,846 additional shares and ending with 449,919 shares valued at about $147.1 million.
• Everest Group stock was trading near its 52-week high, opening at $382.76 after a 2.6% gain, with a market cap of $15.15 billion and a low debt profile.
• The company reported strong quarterly results and continues to return cash to shareholders, posting $16.08 EPS and declaring a $2.00 quarterly dividend that equates to an annual yield of 2.1%.

Hsbc Holdings PLC lifted its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 507.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 449,919 shares of the company's stock after purchasing an additional 375,846 shares during the quarter. Hsbc Holdings PLC owned 0.90% of Everest Group worth $147,102,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management bought a new stake in Everest Group in the 4th quarter valued at $34,000. Raiffeisen Bank International AG bought a new position in shares of Everest Group during the 4th quarter worth about $34,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Everest Group during the 4th quarter valued at about $37,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Everest Group during the 2nd quarter valued at about $39,000. Finally, MUFG Securities EMEA plc bought a new stake in Everest Group in the second quarter valued at about $43,000. 92.64% of the stock is owned by institutional investors.

Everest Group Stock Up 2.6%

EG opened at $382.76 on Friday. The firm has a market cap of $15.15 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 0.59 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.37 and a current ratio of 0.37. The firm's 50-day simple moving average is $349.83 and its 200-day simple moving average is $338.94. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $385.69.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Monday, March 23rd. The company reported $16.08 earnings per share (EPS) for the quarter. The firm had revenue of $4.07 billion during the quarter. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. Equities research analysts anticipate that Everest Group, Ltd. will post 52.88 EPS for the current fiscal year.

Everest Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a $2.00 dividend. The ex-dividend date was Friday, June 12th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.1%. Everest Group's payout ratio is 16.27%.

Insider Activity

In other news, CEO Jason Keen sold 775 shares of Everest Group 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 transaction, the chief executive officer owned 8,170 shares in the company, valued at approximately $2,874,532.80. The trade was a 8.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

EG has been the subject of several recent research reports. Atlantic Securities set a $484.00 price target on shares of Everest Group in a research report on Wednesday. Morgan Stanley lifted their price objective on Everest Group from $355.00 to $360.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. UBS Group set a $355.00 price objective on Everest Group in a research note on Thursday, May 21st. Cantor Fitzgerald increased their target price on Everest Group from $344.00 to $390.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, BMO Capital Markets raised their target price on Everest Group from $366.00 to $376.00 and gave the stock a "market perform" rating in a research report on Thursday, May 14th. Four analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $387.73.

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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