Hsbc Holdings PLC Decreases Stock Position in Everest Group, Ltd. $EG

Hsbc Holdings PLC cut its stake in Everest Group, Ltd. (NYSE:EG) by 8.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 410,228 shares of the company’s stock after selling 39,691 shares during the quarter. Hsbc Holdings PLC’s holdings in Everest Group were worth $146,695,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of EG. Trifecta Capital Advisors LLC bought a new stake in shares of Everest Group in the 2nd quarter worth about $29,000. Activest Wealth Management purchased a new stake in Everest Group in the 4th quarter worth about $34,000. Raiffeisen Bank International AG bought a new stake in Everest Group in the fourth quarter worth about $34,000. Cullen Frost Bankers Inc. purchased a new position in shares of Everest Group during the fourth quarter valued at approximately $37,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Everest Group during the 2nd quarter worth approximately $39,000. 92.64% of the stock is owned by hedge funds and other institutional investors.

Everest Group Trading Down 0.2%

NYSE EG opened at $376.01 on Wednesday. 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 quick ratio of 0.35 and a current ratio of 0.35. The company has a market capitalization of $14.42 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 0.74 and a beta of 0.29. The company’s 50-day simple moving average is $367.85 and its two-hundred day simple moving average is $347.54.

Everest Group (NYSE:EG) last released its quarterly earnings data on Wednesday, July 29th. The company reported $14.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $14.52 by $0.33. The firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.99 billion. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the firm earned $16.10 earnings per share. Equities analysts forecast 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 given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Everest Group’s dividend payout ratio (DPR) is 16.92%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. TD Cowen increased their target price on Everest Group from $365.00 to $385.00 and gave the stock a “hold” rating in a research note on Wednesday, August 19th. Wells Fargo & Company raised their price target on shares of Everest Group from $373.00 to $396.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Citigroup boosted their price objective on shares of Everest Group from $395.00 to $415.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Atlantic Securities set a $484.00 target price on shares of Everest Group in a research note on Wednesday, July 15th. Finally, UBS Group raised their target price on shares of Everest Group from $374.00 to $395.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, Everest Group presently has an average rating of “Hold” and a consensus price target 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.