Martingale Asset Management L P Purchases 3,951 Shares of Everest Group, Ltd. $EG

Key Points

• Martingale Asset Management increased its stake in Everest Group by 7.3%, buying 3,951 shares and bringing its holding to 58,225 shares (about 0.14% of the company) worth roughly $20.39 million.
• Several large institutions also moved into or boosted positions—Norges Bank opened a ~$601.3 million position while AQR, Altrinsic and Vulcan materially increased stakes—leaving institutional ownership at about 92.64%.
• Everest declared a $2.00 quarterly dividend (annualized $8.00, ~2.5% yield; ex-dividend March 13, pay March 27) and reported quarterly EPS of $13.26 (a $0.10 miss) with revenue of $4.42 billion, down 4.6% year-over-year.

Martingale Asset Management L P boosted its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 7.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,225 shares of the company's stock after buying an additional 3,951 shares during the quarter. Martingale Asset Management L P owned approximately 0.14% of Everest Group worth $20,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in EG. Norges Bank bought a new position in shares of Everest Group during the 2nd quarter worth $601,300,000. AQR Capital Management LLC raised its stake in Everest Group by 65.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,180,615 shares of the company's stock valued at $399,626,000 after acquiring an additional 467,656 shares during the period. Altrinsic Global Advisors LLC raised its stake in Everest Group by 37.2% in the 2nd quarter. Altrinsic Global Advisors LLC now owns 937,296 shares of the company's stock valued at $318,540,000 after acquiring an additional 254,317 shares during the period. Causeway Capital Management LLC purchased a new stake in Everest Group during the third quarter valued at about $61,531,000. Finally, Vulcan Value Partners LLC boosted its position in Everest Group by 13.9% during the third quarter. Vulcan Value Partners LLC now owns 1,417,466 shares of the company's stock worth $496,514,000 after purchasing an additional 172,479 shares during the period. 92.64% of the stock is currently owned by institutional investors.

Everest Group Trading Up 0.4%

Shares of Everest Group stock opened at $322.79 on Friday. The company's 50-day moving average price is $331.00 and its 200-day moving average price is $332.67. 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 $370.20. The company has a market cap of $13.04 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 0.23 and a beta of 0.34.

Everest Group (NYSE:EG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $13.26 EPS for the quarter, missing the consensus estimate of $13.36 by ($0.10). The firm had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $3.97 billion. Everest Group had a net margin of 9.09% and a return on equity of 12.50%. Everest Group's revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($18.39) EPS. On average, equities analysts expect that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, March 13th. Everest Group's payout ratio is 21.13%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Mizuho set a $360.00 target price on shares of Everest Group in a research note on Wednesday, February 11th. TD Cowen dropped their price target on shares of Everest Group from $400.00 to $365.00 and set a "hold" rating on the stock in a research note on Monday, December 15th. UBS Group reaffirmed a "buy" rating and issued a $345.00 price objective on shares of Everest Group in a report on Monday, January 12th. Zacks Research upgraded shares of Everest Group from a "strong sell" rating to a "hold" rating in a research note on Monday, January 12th. Finally, Evercore set a $365.00 target price on shares of Everest Group in a report on Wednesday, January 7th. Six equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Everest Group has a consensus rating of "Hold" and a consensus price target of $363.21.

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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