KLP Kapitalforvaltning AS Trims Stock Holdings in Everest Group, Ltd. $EG

Key Points

• KLP Kapitalforvaltning AS cut its stake in Everest Group by 35.0% in Q4, selling 16,760 shares and retaining 31,181 shares worth $10.58 million (about 0.07% of the company), while institutional investors own roughly 92.64% of the stock.
• Street consensus is a Hold with an average target price of $366.14 (six Buys vs. ten Holds), and recent target increases from Bank of America, Mizuho and Wells Fargo.
• Everest posted Q results with EPS of $13.26 (missed by $0.10) but revenue of $4.42 billion (beat expectations); the company has a $17.45 billion market cap, P/E of 9.26, and an annualized dividend of $8.00 (2.3% yield).

KLP Kapitalforvaltning AS decreased its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 35.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,181 shares of the company's stock after selling 16,760 shares during the quarter. KLP Kapitalforvaltning AS owned approximately 0.07% of Everest Group worth $10,581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Root Financial Partners LLC purchased a new stake in Everest Group in the third quarter worth about $30,000. UMB Bank n.a. increased its position in Everest Group by 81.4% in the third quarter. UMB Bank n.a. now owns 107 shares of the company's stock worth $37,000 after buying an additional 48 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Everest Group in the second quarter worth about $39,000. MUFG Securities EMEA plc purchased a new stake in Everest Group in the second quarter worth about $43,000. Finally, Brown Brothers Harriman & Co. increased its position in Everest Group by 57.6% in the third quarter. Brown Brothers Harriman & Co. now owns 134 shares of the company's stock worth $47,000 after buying an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EG shares. Zacks Research upgraded Everest Group from a "strong sell" rating to a "hold" rating in a research report on Monday, January 12th. Mizuho increased their target price on Everest Group from $360.00 to $365.00 and gave the stock a "neutral" rating in a research report on Monday, April 13th. Bank of America increased their target price on Everest Group from $430.00 to $454.00 and gave the stock a "buy" rating in a research report on Tuesday, April 14th. Wells Fargo & Company increased their target price on Everest Group from $304.00 to $332.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 16th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Everest Group in a research report on Thursday, January 22nd. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $366.14.

Everest Group Stock Performance

NYSE:EG opened at $350.76 on Friday. 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, Ltd. has a 12-month low of $302.44 and a 12-month high of $368.29. The stock has a 50-day moving average price of $332.77 and a 200 day moving average price of $330.12. The stock has a market capitalization of $17.45 billion, a P/E ratio of 9.26, a P/E/G ratio of 0.26 and a beta of 0.34.

Everest Group (NYSE:EG - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $13.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $13.36 by ($0.10). Everest Group had a return on equity of 12.50% and a net margin of 9.09%.The business had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $3.97 billion. During the same quarter in the prior year, the business posted ($18.39) EPS. The business's revenue for the quarter was down 4.6% compared to the same quarter last year. Equities research analysts forecast that Everest Group, Ltd. will post 52.99 EPS for the current fiscal year.

Everest Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors 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 yield of 2.3%. Everest Group's dividend payout ratio is presently 21.13%.

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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