Truist Financial Corp Has $24.13 Million Holdings in Everest Group, Ltd. $EG

Key Points

• Truist Financial Corp cut its stake in Everest Group by 28.1%, selling 27,792 shares and leaving it with 71,109 shares valued at about $24.13 million, and institutional investors now own roughly 92.64% of the company.
• Everest Group posted quarterly EPS of $16.08 (beating estimates by $2.11) while revenue fell 4.6% year‑over‑year to $4.07 billion; the stock trades around $352 with a P/E of 7.17 and an annual dividend yield of 2.3%.

Truist Financial Corp decreased its holdings in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 28.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,109 shares of the company's stock after selling 27,792 shares during the quarter. Truist Financial Corp owned approximately 0.17% of Everest Group worth $24,131,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in EG. Massachusetts Financial Services Co. MA grew its holdings in shares of Everest Group by 4.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 652,194 shares of the company's stock valued at $228,418,000 after acquiring an additional 29,586 shares in the last quarter. Clear Harbor Asset Management LLC raised its holdings in Everest Group by 9.2% during the third quarter. Clear Harbor Asset Management LLC now owns 17,942 shares of the company's stock worth $6,284,000 after acquiring an additional 1,517 shares in the last quarter. Bright Futures Wealth Management LLC. acquired a new position in Everest Group during the third quarter valued at approximately $589,000. Cerity Partners LLC boosted its position in Everest Group by 46.4% during the third quarter. Cerity Partners LLC now owns 43,771 shares of the company's stock valued at $15,330,000 after purchasing an additional 13,864 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Everest Group by 141.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 21,076 shares of the company's stock valued at $7,690,000 after purchasing an additional 12,343 shares in the last quarter. Institutional investors own 92.64% of the company's stock.

Everest Group Trading Up 0.8%

EG stock opened at $352.40 on Thursday. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $368.29. The stock has a market cap of $17.53 billion, a price-to-earnings ratio of 7.17, a price-to-earnings-growth ratio of 0.26 and a beta of 0.35. The company has a fifty day moving average price of $333.71 and a two-hundred day moving average price of $329.52. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.39.

Everest Group (NYSE:EG - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $16.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $13.97 by $2.11. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. The company had revenue of $4.07 billion during the quarter, compared to analysts' expectations of $4.17 billion. During the same quarter last year, the company posted $6.45 EPS. Everest Group's quarterly revenue was down 4.6% compared to the same quarter last year. Equities analysts anticipate that Everest Group, Ltd. will post 52.98 EPS for the current year.

Everest Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a $2.00 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $8.00 annualized dividend and a dividend yield of 2.3%. Everest Group's dividend payout ratio is presently 16.27%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on EG shares. Mizuho upped their price objective on Everest Group from $360.00 to $365.00 and gave the stock a "neutral" rating in a research note on Monday, April 13th. Evercore set a $365.00 target price on shares of Everest Group in a report on Wednesday, January 7th. UBS Group upped their price target on shares of Everest Group from $370.00 to $374.00 and gave the stock a "neutral" rating in a research report on Monday. Weiss Ratings reissued a "hold (c)" rating on shares of Everest Group in a research report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Everest Group from $402.00 to $411.00 and gave the company an "outperform" rating in a report on Wednesday. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Everest Group has a consensus rating of "Hold" and a consensus target price of $370.57.

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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