QRG Capital Management Inc. Reduces Position in Everest Group, Ltd. $EG

QRG Capital Management Inc. lowered its stake in Everest Group, Ltd. (NYSE:EG) by 86.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,410 shares of the company’s stock after selling 9,063 shares during the period. QRG Capital Management Inc.’s holdings in Everest Group were worth $494,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Natixis grew its stake in Everest Group by 1,456.3% during the 2nd quarter. Natixis now owns 65,941 shares of the company’s stock valued at $22,410,000 after purchasing an additional 61,704 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Everest Group by 1,863.2% during the second quarter. Osaic Holdings Inc. now owns 25,208 shares of the company’s stock worth $9,137,000 after purchasing an additional 23,924 shares during the period. Balyasny Asset Management L.P. boosted its position in Everest Group by 37.5% in the second quarter. Balyasny Asset Management L.P. now owns 336,692 shares of the company’s stock valued at $114,425,000 after buying an additional 91,799 shares during the last quarter. Brighton Jones LLC increased its holdings in Everest Group by 157.9% in the 3rd quarter. Brighton Jones LLC now owns 6,635 shares of the company’s stock worth $2,324,000 after buying an additional 4,062 shares during the period. Finally, Clear Harbor Asset Management LLC raised its position in Everest Group by 9.2% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 17,942 shares of the company’s stock worth $6,284,000 after buying an additional 1,517 shares during the last quarter. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Allan Levine bought 3,100 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were acquired at an average price of $306.08 per share, for a total transaction of $948,848.00. Following the completion of the transaction, the director directly owned 4,153 shares in the company, valued at $1,271,150.24. This trade represents a 294.40% increase 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. Also, Director William F. Galtney, Jr. bought 11,385 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were bought at an average cost of $307.38 per share, with a total value of $3,499,521.30. Following the purchase, the director directly owned 45,491 shares of the company’s stock, valued at approximately $13,983,023.58. This represents a 33.38% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on EG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Everest Group in a report on Wednesday, October 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Everest Group in a report on Monday, November 3rd. UBS Group reiterated a “buy” rating and set a $345.00 price objective on shares of Everest Group in a research note on Monday, January 12th. Evercore ISI set a $365.00 price objective on Everest Group in a report on Wednesday, January 7th. Finally, TD Cowen dropped their target price on Everest Group from $400.00 to $365.00 and set a “hold” rating on the stock in a report on Monday, December 15th. Six research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, Everest Group presently has an average rating of “Hold” and an average target price of $365.33.

Everest Group Trading Down 0.4%

EG stock opened at $321.73 on Friday. Everest Group, Ltd. has a 52-week low of $302.44 and a 52-week high of $373.23. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.23. The firm has a market cap of $13.51 billion, a P/E ratio of 24.50, a PEG ratio of 0.23 and a beta of 0.38. The company’s 50-day simple moving average is $324.11 and its 200-day simple moving average is $333.14.

Everest Group (NYSE:EG) last released its quarterly earnings results on Monday, October 27th. The company reported $7.54 earnings per share for the quarter, missing analysts’ consensus estimates of $13.39 by ($5.85). Everest Group had a return on equity of 3.74% and a net margin of 3.12%.The business had revenue of $4.32 billion during the quarter, compared to analyst estimates of $3.86 billion. During the same period in the previous year, the company posted $11.80 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Wednesday, November 26th were given a dividend of $2.00 per share. The ex-dividend date was Wednesday, November 26th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.5%. Everest Group’s dividend payout ratio (DPR) is 60.93%.

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.