Assetmark Inc. Raises Position in Everest Group, Ltd. $EG

Assetmark Inc. raised its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 2.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 287,847 shares of the company’s stock after acquiring an additional 7,539 shares during the period. Assetmark Inc.’s holdings in Everest Group were worth $94,083,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Everest Group in the fourth quarter valued at approximately $630,277,000. AQR Capital Management LLC grew its holdings in shares of Everest Group by 70.3% in the third quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock worth $695,275,000 after purchasing an additional 830,418 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Everest Group by 12,322.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 519,243 shares of the company’s stock worth $176,205,000 after purchasing an additional 515,063 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Everest Group by 507.4% in the first quarter. Hsbc Holdings PLC now owns 449,919 shares of the company’s stock worth $147,102,000 after buying an additional 375,846 shares during the period. Finally, Balyasny Asset Management L.P. increased its stake in shares of Everest Group by 181.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 498,697 shares of the company’s stock worth $169,233,000 after buying an additional 321,376 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

Everest Group Trading Up 2.4%

NYSE:EG opened at $372.92 on Friday. The company’s 50 day moving average price is $349.20 and its 200-day moving average price is $338.63. Everest Group, Ltd. has a 52 week low of $302.44 and a 52 week high of $379.21. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.23. The stock has a market cap of $14.76 billion, a price-to-earnings ratio of 7.58, a PEG ratio of 0.55 and a beta of 0.29.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, March 23rd. The company reported $16.08 earnings per share 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, equities research analysts forecast that Everest Group, Ltd. will post 53.05 earnings per share for the current fiscal year.

Everest Group Dividend Announcement

The firm also recently announced 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 dividend yield of 2.1%. Everest Group’s dividend payout ratio (DPR) is presently 16.27%.

Insider Activity at Everest Group

In other news, CEO Jason Keen sold 775 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $351.84, for a total value of $272,676.00. Following the completion of the transaction, the chief executive officer 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Everest Group from $411.00 to $414.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. BMO Capital Markets boosted their price objective on shares of Everest Group from $366.00 to $376.00 and gave the company a “market perform” rating in a research report on Thursday, May 14th. Weiss Ratings raised shares of Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Barclays increased their target price on shares of Everest Group from $380.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Finally, 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 report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $387.73.

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.