Weiss Asset Management LP Has $2.66 Million Stock Holdings in Everest Group, Ltd. $EG

Key Points

• Weiss Asset Management cut its Everest Group stake by 27.5% in the first quarter, selling 3,086 shares and retaining 8,134 shares valued at approximately $2.66 million. Institutional investors collectively own 92.64% of the company.
• Everest Group reported quarterly revenue of $4.07 billion and earnings of $16.08 per share, while paying a quarterly dividend of $2.00, equivalent to an annualized $8.00 payout and a 2.1% yield.
• The stock opened at $385.50, near its 12-month high, but analysts maintain a consensus “Hold” rating with an average price target of $387.73. CEO Jason Keen also sold 775 shares for approximately $272,676.

Weiss Asset Management LP decreased its position in shares of Everest Group, Ltd. (NYSE:EG - Free Report) by 27.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,134 shares of the company's stock after selling 3,086 shares during the period. Weiss Asset Management LP's holdings in Everest Group were worth $2,659,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of EG. Activest Wealth Management acquired a new position in shares of Everest Group in the fourth quarter valued at about $34,000. Raiffeisen Bank International AG bought a new position in Everest Group during the fourth quarter worth about $34,000. Cullen Frost Bankers Inc. acquired a new stake in Everest Group in the 4th quarter worth about $37,000. CYBER HORNET ETFs LLC acquired a new stake in Everest Group in the 2nd quarter worth about $39,000. Finally, MUFG Securities EMEA plc bought a new stake in Everest Group in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 92.64% of the company's stock.

Insider Buying and Selling

In other Everest Group news, CEO Jason Keen sold 775 shares of the business'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 transaction of $272,676.00. Following the completion of the transaction, the chief executive officer directly owned 8,170 shares in the company, valued at $2,874,532.80. The trade was a 8.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is currently owned by corporate insiders.

Everest Group Trading Up 0.1%

Shares of Everest Group stock opened at $385.50 on Monday. 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 $386.87. The company has a market capitalization of $15.25 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 0.60 and a beta of 0.29. The firm's 50-day moving average price is $352.67 and its two-hundred day moving average price is $340.29.

Everest Group (NYSE:EG - Get Free Report) last issued its earnings results on Monday, March 23rd. The company reported $16.08 EPS for the quarter. 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. On average, analysts forecast that Everest Group, Ltd. will post 52.86 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, June 12th. Everest Group's dividend payout ratio (DPR) is 16.27%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Everest Group from $356.00 to $373.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 9th. Morgan Stanley lifted their price target on shares of Everest Group from $355.00 to $360.00 and gave the company an "equal weight" rating in a research report on Monday, July 6th. Weiss Ratings upgraded Everest Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, July 10th. Mizuho increased their price target on Everest Group from $388.00 to $418.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Finally, Evercore set a $375.00 price objective on Everest Group in a research note on Friday, July 10th. Four research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Everest Group has a consensus rating of "Hold" and an average price target of $387.73.

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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