Swedbank AB Sells 19,215 Shares of Everest Group, Ltd. $EG

Key Points

• Swedbank AB cut its stake in Everest Group by 51.9% in the first quarter, selling 19,215 shares and leaving it with 17,810 shares valued at about $5.82 million.
• Everest Group reported solid recent results, posting $16.08 in quarterly EPS on $4.07 billion in revenue, while analysts expect full-year EPS of 52.77.
• The company continues to return cash to shareholders, paying a quarterly dividend of $2.00 per share, or $8.00 annualized, for a yield of about 2.2%.

Swedbank AB reduced its position in Everest Group, Ltd. (NYSE:EG - Free Report) by 51.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,810 shares of the company's stock after selling 19,215 shares during the quarter. Swedbank AB's holdings in Everest Group were worth $5,821,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Everest Group in the 4th quarter worth approximately $630,277,000. AQR Capital Management LLC grew its position in Everest Group by 70.3% during the third quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company's stock valued at $695,275,000 after acquiring an additional 830,418 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Everest Group by 12,322.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company's stock valued at $176,205,000 after acquiring an additional 515,063 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Everest Group by 181.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 498,697 shares of the company's stock worth $169,233,000 after acquiring an additional 321,376 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in shares of Everest Group by 622.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 346,305 shares of the company's stock worth $117,519,000 after acquiring an additional 298,391 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Trading Down 0.1%

Shares of NYSE EG traded down $0.30 during mid-day trading on Friday, hitting $370.70. The stock had a trading volume of 226,735 shares, compared to its average volume of 420,263. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.37 and a current ratio of 0.37. Everest Group, Ltd. has a 1 year low of $302.44 and a 1 year high of $379.21. The business has a 50 day moving average price of $347.67 and a two-hundred day moving average price of $337.63. The firm has a market cap of $14.67 billion, a P/E ratio of 7.54, a price-to-earnings-growth ratio of 0.57 and a beta of 0.29.

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 for the quarter. The business 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%. On average, equities analysts anticipate that Everest Group, Ltd. will post 52.77 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 issued a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, June 12th. Everest Group's dividend payout ratio is currently 16.27%.

Insider Buying and Selling at Everest Group

In related news, CEO Jason Keen sold 775 shares of the firm's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $351.84, for a total value of $272,676.00. Following the sale, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

EG has been the subject of a number of research reports. Morgan Stanley upped their price objective on shares of Everest Group from $355.00 to $360.00 and gave the company an "equal weight" rating in a research note on Monday. Bank of America lifted their target price on shares of Everest Group from $430.00 to $454.00 and gave the stock a "buy" rating in a research report on Tuesday, April 14th. Citigroup boosted their price target on shares of Everest Group from $342.00 to $395.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 12th. Evercore set a $375.00 price target on shares of Everest Group in a research report on Friday. Finally, Barclays raised their price objective on Everest Group from $380.00 to $420.00 and gave the company an "overweight" rating in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, Everest Group currently has a consensus rating of "Hold" and a consensus price target of $380.86.

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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