Empowered Funds LLC Sells 6,795 Shares of Everest Group, Ltd. $EG

Empowered Funds LLC lessened its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 17.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,845 shares of the company’s stock after selling 6,795 shares during the period. Empowered Funds LLC owned about 0.08% of Everest Group worth $10,409,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Algebris UK Ltd. acquired a new stake in shares of Everest Group in the fourth quarter worth about $23,460,000. M&T Bank Corp increased its holdings in shares of Everest Group by 4,077.5% during the 4th quarter. M&T Bank Corp now owns 79,205 shares of the company’s stock valued at $26,878,000 after acquiring an additional 77,309 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Everest Group by 12,322.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company’s stock valued at $176,205,000 after acquiring an additional 515,063 shares during the last quarter. National Pension Service raised its stake in shares of Everest Group by 13.2% in the 4th quarter. National Pension Service now owns 44,113 shares of the company’s stock valued at $14,970,000 after acquiring an additional 5,157 shares in the last quarter. Finally, Perpetual Ltd raised its stake in shares of Everest Group by 4.1% in the 4th quarter. Perpetual Ltd now owns 113,986 shares of the company’s stock valued at $38,681,000 after acquiring an additional 4,472 shares in the last quarter. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Stock Down 4.5%

Shares of EG stock opened at $375.98 on Friday. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $401.07. The firm has a market cap of $14.88 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 0.61 and a beta of 0.29. The stock has a 50 day moving average of $355.30 and a 200-day moving average of $341.87. 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 (NYSE:EG) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $14.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.52 by $0.33. Everest Group had a net margin of 11.41% and a return on equity of 13.64%. The business had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter last year, the company posted $16.10 earnings per share. Everest Group’s quarterly revenue was down 11.8% on a year-over-year basis. On average, equities analysts predict that Everest Group, Ltd. will post 52.86 EPS for the current year.

Everest Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $2.00 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $8.00 dividend on an annualized basis and a yield of 2.1%. Everest Group’s dividend payout ratio is 16.92%.

Insider Transactions at Everest Group

In other Everest Group news, CEO Jason Keen sold 775 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $351.84, for a total value of $272,676.00. Following the sale, the chief executive officer directly owned 8,170 shares in the company, valued at $2,874,532.80. This trade represents a 8.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

EG has been the subject of a number of recent analyst reports. Mizuho upped their target price on Everest Group from $388.00 to $418.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. UBS Group set a $355.00 price target on shares of Everest Group in a research report on Thursday, May 21st. Citigroup boosted their price objective on shares of Everest Group from $342.00 to $395.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Wells Fargo & Company upped their price objective on shares of Everest Group from $356.00 to $373.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Everest Group from $411.00 to $414.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Everest Group presently has a consensus rating of “Hold” and a consensus price target of $388.53.

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.