Vulcan Value Partners LLC Decreases Holdings in Everest Group, Ltd. $EG

Vulcan Value Partners LLC cut its stake in shares of Everest Group, Ltd. (NYSE:EG) by 23.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,036,906 shares of the company’s stock after selling 324,959 shares during the quarter. Everest Group makes up approximately 11.3% of Vulcan Value Partners LLC’s holdings, making the stock its biggest position. Vulcan Value Partners LLC owned about 2.70% of Everest Group worth $370,414,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EG. Trifecta Capital Advisors LLC bought a new position in shares of Everest Group in the second quarter worth approximately $29,000. Raiffeisen Bank International AG bought a new position in Everest Group in the 4th quarter worth $34,000. Cullen Frost Bankers Inc. purchased a new stake in Everest Group in the 4th quarter worth $37,000. CYBER HORNET ETFs LLC bought a new stake in Everest Group during the second quarter valued at about $39,000. Finally, MUFG Securities EMEA plc purchased a new position in shares of Everest Group in the second quarter valued at about $43,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Trading Down 2.7%

EG traded down $10.40 during trading hours on Tuesday, reaching $370.47. 534,910 shares of the company’s stock traded hands, compared to its average volume of 368,293. The firm has a 50-day moving average price of $374.21 and a 200 day moving average price of $350.48. The firm has a market capitalization of $14.20 billion, a PE ratio of 7.83, a PEG ratio of 0.75 and a beta of 0.28. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23. Everest Group, Ltd. has a 52-week low of $302.44 and a 52-week high of $401.07.

Everest Group (NYSE:EG) last released its earnings results on Tuesday, June 30th. The company reported $14.85 earnings per share for the quarter. The business had revenue of $3.96 billion during the quarter. Everest Group had a return on equity of 13.63% and a net margin of 11.41%. As a group, sell-side analysts predict that Everest Group, Ltd. will post 53.28 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Wednesday, September 9th. Everest Group’s dividend payout ratio is currently 16.92%.

Wall Street Analyst Weigh In

EG has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on shares of Everest Group from $373.00 to $396.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Weiss Ratings raised shares of Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Cantor Fitzgerald increased their price objective on shares of Everest Group from $344.00 to $390.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Morgan Stanley boosted their target price on shares of Everest Group from $355.00 to $360.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Finally, Evercore set a $377.00 price target on shares of Everest Group in a report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Everest Group currently has a consensus rating of “Hold” and an average target price of $395.27.

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.