UBS Group AG Sells 17,537 Shares of Everest Group, Ltd. $EG

Key Points

• UBS Group AG reduced its stake in Everest Group by 8.0%, selling 17,537 shares and now holds 200,374 shares (about 0.48% of the company) valued at roughly $68.0 million.
• Everest reported quarterly EPS of $16.08, beating estimates by $2.11, but revenue came in at $4.07 billion (below expectations) and quarterly revenue fell 4.6% year-over-year.
• The company pays a quarterly dividend of $2.00 ($8.00 annualized, yield 2.3%) and trades at a P/E of 7.07 with a market cap of $17.28 billion; analysts' consensus is a "Hold" with an average price target of $368.21.

UBS Group AG lowered its stake in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 200,374 shares of the company's stock after selling 17,537 shares during the period. UBS Group AG owned approximately 0.48% of Everest Group worth $67,997,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bartlett & CO. Wealth Management LLC boosted its holdings in Everest Group by 2.1% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 1,682 shares of the company's stock worth $571,000 after buying an additional 34 shares during the last quarter. Wealthfront Advisers LLC lifted its holdings in shares of Everest Group by 2.8% during the 3rd quarter. Wealthfront Advisers LLC now owns 1,466 shares of the company's stock valued at $513,000 after purchasing an additional 40 shares in the last quarter. BayBridge Capital Group LLC lifted its holdings in shares of Everest Group by 4.4% during the 4th quarter. BayBridge Capital Group LLC now owns 1,017 shares of the company's stock valued at $345,000 after purchasing an additional 43 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Everest Group by 6.4% during the 3rd quarter. Van ECK Associates Corp now owns 744 shares of the company's stock valued at $261,000 after purchasing an additional 45 shares in the last quarter. Finally, Center For Asset Management LLC lifted its holdings in shares of Everest Group by 2.0% during the 3rd quarter. Center For Asset Management LLC now owns 2,353 shares of the company's stock valued at $824,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 92.64% of the company's stock.

Everest Group Trading Down 1.7%

Shares of Everest Group stock opened at $347.44 on Tuesday. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $368.29. The stock has a market cap of $17.28 billion, a P/E ratio of 7.07, a P/E/G ratio of 0.26 and a beta of 0.35. The company has a quick ratio of 0.39, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. The business's 50 day moving average is $333.26 and its 200-day moving average is $329.43.

Everest Group (NYSE:EG - Get Free Report) last issued its earnings results on Wednesday, April 29th. The company reported $16.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $13.97 by $2.11. The company had revenue of $4.07 billion for the quarter, compared to analysts' expectations of $4.17 billion. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. Everest Group's quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.45 EPS. Equities research analysts predict that Everest Group, Ltd. will post 53.31 earnings per share for the current fiscal 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 issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, March 13th. Everest Group's dividend payout ratio is presently 16.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Mizuho boosted their target price on Everest Group from $360.00 to $365.00 and gave the company a "neutral" rating in a research note on Monday, April 13th. Wells Fargo & Company boosted their target price on Everest Group from $304.00 to $332.00 and gave the company an "equal weight" rating in a research note on Thursday, April 16th. Cantor Fitzgerald cut their target price on Everest Group from $348.00 to $344.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 14th. Keefe, Bruyette & Woods cut their price target on shares of Everest Group from $430.00 to $402.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 7th. Finally, Bank of America boosted their price target 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. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Everest Group presently has an average rating of "Hold" and an average price target of $368.21.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.