Groupama Asset Managment Lowers Stock Holdings in Everest Group, Ltd. $EG

Groupama Asset Managment lowered its stake in Everest Group, Ltd. (NYSE:EG) by 70.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,011 shares of the company’s stock after selling 2,462 shares during the period. Groupama Asset Managment’s holdings in Everest Group were worth $354,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of EG. AQR Capital Management LLC raised its position in Everest Group by 70.3% during the 3rd quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock worth $695,275,000 after buying an additional 830,418 shares during the last quarter. Norges Bank purchased a new stake in shares of Everest Group in the second quarter valued at about $601,300,000. Vulcan Value Partners LLC boosted its holdings in shares of Everest Group by 13.9% in the third quarter. Vulcan Value Partners LLC now owns 1,417,466 shares of the company’s stock valued at $496,514,000 after acquiring an additional 172,479 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Everest Group by 6.1% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 999,581 shares of the company’s stock worth $350,083,000 after acquiring an additional 57,907 shares during the period. Finally, Altrinsic Global Advisors LLC raised its holdings in Everest Group by 37.2% during the second quarter. Altrinsic Global Advisors LLC now owns 937,296 shares of the company’s stock worth $318,540,000 after purchasing an additional 254,317 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Everest Group Price Performance

Everest Group stock opened at $316.26 on Friday. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $370.20. The stock has a market capitalization of $12.77 billion, a P/E ratio of 8.35, a P/E/G ratio of 0.23 and a beta of 0.34. The firm’s 50-day moving average is $329.10 and its two-hundred day moving average is $331.66. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.39 and a quick ratio of 0.39.

Everest Group (NYSE:EG) last posted its quarterly earnings data 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 firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $3.97 billion. Everest Group had a net margin of 9.09% and a return on equity of 12.50%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($18.39) EPS. Equities analysts predict that Everest Group, Ltd. will post 47.93 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $2.00 dividend. The ex-dividend date is Friday, March 13th. This represents a $8.00 annualized dividend and a yield of 2.5%. Everest Group’s payout ratio is 21.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EG. Cantor Fitzgerald cut their target price on Everest Group from $348.00 to $344.00 and set a “neutral” rating for the company in a research note on Wednesday, January 14th. Evercore set a $365.00 price objective on Everest Group in a research report on Wednesday, January 7th. UBS Group reissued a “buy” rating and issued a $345.00 target price on shares of Everest Group 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 on the stock in a research note on Monday, December 15th. Finally, Wells Fargo & Company reduced their price objective on shares of Everest Group from $332.00 to $310.00 and set an “equal weight” rating for the company in a research note on Friday, February 6th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $363.21.

Everest Group 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.