Sterling Capital Management LLC Sells 141,906 Shares of Everest Group, Ltd. $EG

Key Points

• Sterling Capital Management LLC cut its Everest Group stake by 99.1% in the first quarter, selling 141,906 shares and leaving it with 1,244 shares worth about $407,000.
• Institutional ownership remains high at 92.64%, with several other funds recently adding to or initiating positions in Everest Group.
• Analysts are mixed on the stock: Everest Group has a consensus Hold rating with an average price target of $370.07, while the shares recently traded around $371.55.

Sterling Capital Management LLC decreased its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 99.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,244 shares of the company's stock after selling 141,906 shares during the quarter. Sterling Capital Management LLC's holdings in Everest Group were worth $407,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. lifted its holdings in shares of Everest Group by 98.9% during the first quarter. Geneos Wealth Management Inc. now owns 181 shares of the company's stock valued at $66,000 after acquiring an additional 90 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Everest Group in the 2nd quarter valued at $384,000. Marshall Wace LLP bought a new stake in shares of Everest Group in the 2nd quarter worth about $238,000. Jump Financial LLC acquired a new stake in shares of Everest Group during the 2nd quarter worth about $1,510,000. Finally, Federated Hermes Inc. increased its position in shares of Everest Group by 3.7% during the 2nd quarter. Federated Hermes Inc. now owns 14,411 shares of the company's stock worth $4,898,000 after purchasing an additional 510 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EG shares. Bank of America boosted their price target on shares of Everest Group from $430.00 to $454.00 and gave the company a "buy" rating in a research report on Tuesday, April 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Everest Group in a report on Friday, May 22nd. Barclays lifted their target price on shares of Everest Group from $377.00 to $380.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. BMO Capital Markets boosted their target price on Everest Group from $366.00 to $376.00 and gave the stock a "market perform" rating in a report on Thursday, May 14th. Finally, Mizuho increased their price target on Everest Group from $365.00 to $388.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Everest Group presently has an average rating of "Hold" and a consensus price target of $370.07.

Insider Buying and Selling at Everest Group

In related news, CEO Jason Keen sold 775 shares of the firm's 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 sale, the chief executive officer owned 8,170 shares of the company's stock, valued at $2,874,532.80. This trade represents a 8.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Everest Group Stock Up 0.1%

Shares of NYSE EG opened at $371.55 on Friday. The firm's 50-day simple moving average is $345.03 and its 200 day simple moving average is $336.15. The company has a market cap of $14.70 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 0.57 and a beta of 0.29. The company has a quick ratio of 0.37, a current ratio of 0.37 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 $372.36.

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 firm had revenue of $4.07 billion during the quarter. On average, research analysts expect that Everest Group, Ltd. will post 52.79 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, June 12th. Everest Group's dividend payout ratio is 16.27%.

About Everest Group

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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