Pacer Advisors Inc. Reduces Stake in Everest Group, Ltd. $EG

Pacer Advisors Inc. lowered its stake in Everest Group, Ltd. (NYSE:EG) by 53.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,030 shares of the company’s stock after selling 2,347 shares during the quarter. Pacer Advisors Inc.’s holdings in Everest Group were worth $664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Activest Wealth Management bought a new position in shares of Everest Group in the fourth quarter worth $34,000. Raiffeisen Bank International AG bought a new stake in Everest Group during the fourth quarter valued at $34,000. Cullen Frost Bankers Inc. bought a new stake in Everest Group during the fourth quarter valued at $37,000. CYBER HORNET ETFs LLC purchased a new position in Everest Group during the second quarter worth about $39,000. Finally, MUFG Securities EMEA plc purchased a new position in Everest Group during the second quarter worth about $43,000. 92.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on EG shares. UBS Group raised their price target on Everest Group from $374.00 to $395.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Bank of America upped their price objective on shares of Everest Group from $430.00 to $454.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. 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. BMO Capital Markets lifted their target price 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. Finally, Barclays boosted their price target on shares of Everest Group from $420.00 to $430.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Everest Group has a consensus rating of “Hold” and a consensus price target of $393.93.

Everest Group Stock Down 1.5%

Shares of NYSE EG opened at $369.26 on Tuesday. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $401.07. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.35 and a quick ratio of 0.35. The firm’s 50 day simple moving average is $359.66 and its two-hundred day simple moving average is $344.33. The stock has a market capitalization of $14.16 billion, a P/E ratio of 7.81, a PEG ratio of 0.74 and a beta of 0.29.

Everest Group (NYSE:EG) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $14.85 earnings per share for the quarter, topping analysts’ consensus estimates of $14.52 by $0.33. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same period in the previous year, the business posted $16.10 EPS. The business’s quarterly revenue was down 11.8% on a year-over-year basis. As a group, analysts expect that Everest Group, Ltd. will post 53.13 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, June 12th. Everest Group’s dividend payout ratio is presently 16.92%.

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.