AustralianSuper Pty Ltd Sells 8,088 Shares of Everest Group, Ltd. $EG

AustralianSuper Pty Ltd cut its position in Everest Group, Ltd. (NYSE:EG) by 5.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 130,067 shares of the company’s stock after selling 8,088 shares during the period. AustralianSuper Pty Ltd owned about 0.31% of Everest Group worth $45,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. increased its position in shares of Everest Group by 20.2% during the third quarter. Victory Capital Management Inc. now owns 326,877 shares of the company’s stock worth $114,482,000 after acquiring an additional 54,901 shares during the period. Champlain Investment Partners LLC grew its stake in Everest Group by 3.3% in the third quarter. Champlain Investment Partners LLC now owns 384,141 shares of the company’s stock worth $134,538,000 after purchasing an additional 12,331 shares in the last quarter. Focus Partners Advisor Solutions LLC increased its holdings in Everest Group by 224.9% during the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 5,836 shares of the company’s stock worth $1,971,000 after purchasing an additional 4,040 shares during the period. Bright Futures Wealth Management LLC. bought a new stake in Everest Group during the 3rd quarter valued at $589,000. Finally, Journey Strategic Wealth LLC bought a new stake in Everest Group during the 3rd quarter valued at $326,000. 92.64% of the stock is currently owned by institutional investors.

Everest Group Stock Down 0.8%

Shares of Everest Group stock opened at $342.78 on Friday. The business has a 50-day moving average price of $331.33 and a 200 day moving average price of $332.71. Everest Group, Ltd. has a fifty-two week low of $302.44 and a fifty-two week high of $370.20. The firm has a market cap of $14.39 billion, a P/E ratio of 9.05, a P/E/G ratio of 0.25 and a beta of 0.36. The company has a quick ratio of 0.39, a current ratio of 0.37 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $13.26 earnings per share for the quarter, missing analysts’ consensus estimates of $13.36 by ($0.10). The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $3.97 billion. Everest Group had a return on equity of 12.50% and a net margin of 9.09%.The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($18.39) earnings per share. On average, sell-side analysts forecast that Everest Group, Ltd. will post 47.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research note on Thursday, January 22nd. Cantor Fitzgerald cut their target price on shares of Everest Group from $348.00 to $344.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. Zacks Research upgraded shares of Everest Group from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. TD Cowen lowered their price target on shares of Everest Group from $400.00 to $365.00 and set a “hold” rating for the company in a research report on Monday, December 15th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Everest Group from $400.00 to $430.00 and gave the company an “outperform” rating in a report on Tuesday, January 6th. Six analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $363.21.

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.