Principal Financial Group Inc. Increases Stock Holdings in EverQuote, Inc. $EVER

Principal Financial Group Inc. grew its stake in EverQuote, Inc. (NASDAQ:EVER) by 219.1% during the first quarter, HoldingsChannel reports. The firm owned 137,574 shares of the company’s stock after purchasing an additional 94,467 shares during the quarter. Principal Financial Group Inc.’s holdings in EverQuote were worth $2,121,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the stock. Comerica Bank lifted its holdings in shares of EverQuote by 235.4% during the third quarter. Comerica Bank now owns 1,100 shares of the company’s stock worth $25,000 after purchasing an additional 772 shares during the period. NewEdge Advisors LLC purchased a new position in EverQuote in the 3rd quarter valued at $52,000. Clearstead Advisors LLC increased its stake in EverQuote by 70.5% in the 4th quarter. Clearstead Advisors LLC now owns 1,997 shares of the company’s stock valued at $54,000 after buying an additional 826 shares during the period. Tower Research Capital LLC TRC increased its stake in EverQuote by 271.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,259 shares of the company’s stock valued at $79,000 after buying an additional 2,381 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in EverQuote in the 4th quarter valued at $84,000. Hedge funds and other institutional investors own 91.54% of the company’s stock.

EverQuote Trading Down 6.6%

Shares of EverQuote stock opened at $25.05 on Friday. The company has a 50-day moving average of $22.55 and a two-hundred day moving average of $19.48. EverQuote, Inc. has a 12-month low of $13.88 and a 12-month high of $28.73. The stock has a market cap of $902.55 million, a PE ratio of 8.52 and a beta of 0.61.

EverQuote (NASDAQ:EVER) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.43 by $0.08. The business had revenue of $190.85 million for the quarter, compared to analyst estimates of $180.10 million. EverQuote had a return on equity of 53.39% and a net margin of 15.35%.The company’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 EPS. On average, sell-side analysts forecast that EverQuote, Inc. will post 1.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other EverQuote news, CAO Jon Ayotte sold 4,611 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $24.15, for a total value of $111,355.65. Following the sale, the chief accounting officer owned 74,580 shares of the company’s stock, valued at approximately $1,801,107. This represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Brainard sold 4,960 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $25.51, for a total value of $126,529.60. Following the completion of the transaction, the chief technology officer owned 165,336 shares of the company’s stock, valued at approximately $4,217,721.36. This represents a 2.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 57,891 shares of company stock worth $1,243,447. 23.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EVER shares. Wall Street Zen upgraded shares of EverQuote from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Weiss Ratings upgraded shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price target on shares of EverQuote in a research note on Tuesday, May 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of EverQuote from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $24.17.

EverQuote Company Profile

EverQuote, Inc operates an online insurance marketplace that connects consumers with insurance providers across the United States. Founded in 2011 and headquartered in Cambridge, Massachusetts, the company leverages proprietary technology to match individuals seeking coverage with insurers offering competitive rates. Since its initial public offering in 2020, EverQuote has focused on expanding its digital platform and enhancing the efficiency of its lead-generation processes.

The company’s core business centers on a quote-comparison engine for personal auto, home, and health insurance products.