Hsbc Holdings PLC Sells 39,691 Shares of Everest Group, Ltd. $EG

Key Points

• HSBC Holdings reduced its Everest Group stake by 8.8%, selling 39,691 shares and retaining 410,228 shares worth approximately $146.7 million. Institutional investors collectively own 92.64% of the company.
• Everest Group reported quarterly EPS of $14.85, beating estimates of $14.52, while revenue of $3.96 billion fell short of expectations and declined 11.8% year over year.
• The company declared a quarterly dividend of $2.00 per share, equivalent to $8.00 annually and a 2.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $395.27.

Hsbc Holdings PLC decreased its holdings in Everest Group, Ltd. (NYSE:EG - Free Report) by 8.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 410,228 shares of the company's stock after selling 39,691 shares during the quarter. Hsbc Holdings PLC owned 1.07% of Everest Group worth $146,695,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Trifecta Capital Advisors LLC purchased a new position in shares of Everest Group during the 2nd quarter worth $29,000. Activest Wealth Management bought a new position in Everest Group in the 4th quarter worth $34,000. Raiffeisen Bank International AG purchased a new position in Everest Group during the fourth quarter valued at $34,000. Cullen Frost Bankers Inc. bought a new stake in Everest Group during the fourth quarter valued at about $37,000. Finally, CYBER HORNET ETFs LLC bought a new stake in Everest Group during the second quarter valued at about $39,000. 92.64% of the stock is currently owned by institutional investors.

Everest Group Trading Down 0.2%

Shares of EG opened at $376.01 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35. Everest Group, Ltd. has a 1 year low of $302.44 and a 1 year high of $401.07. The company has a 50 day simple moving average of $367.85 and a two-hundred day simple moving average of $347.54. The firm has a market cap of $14.42 billion, a P/E ratio of 7.95, a price-to-earnings-growth ratio of 0.74 and a beta of 0.29.

Everest Group (NYSE:EG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $14.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $14.52 by $0.33. The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.99 billion. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. Everest Group's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $16.10 EPS. On average, equities analysts expect that Everest Group, Ltd. will post 53.28 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $8.00 dividend on an annualized basis and a yield of 2.1%. Everest Group's payout ratio is presently 16.92%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Everest Group from $373.00 to $396.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. BMO Capital Markets raised their target price on shares of Everest Group from $366.00 to $376.00 and gave the stock a "market perform" rating in a research note on Thursday, May 14th. Morgan Stanley lifted their price target on shares of Everest Group from $355.00 to $360.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. Cantor Fitzgerald increased their price objective on shares of Everest Group from $344.00 to $390.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Finally, UBS Group lifted their target price on shares of Everest Group from $374.00 to $395.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Four analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $395.27.

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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