Wellington Management Group LLP Reduces Position in Everest Group, Ltd. $EG

Wellington Management Group LLP lessened its holdings in shares of Everest Group, Ltd. (NYSE:EG) by 51.6% in the second quarter, Holdings Channel.com reports. The firm owned 470,633 shares of the company’s stock after selling 501,236 shares during the period. Wellington Management Group LLP’s holdings in Everest Group were worth $168,124,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geneos Wealth Management Inc. grew its stake in Everest Group by 98.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 181 shares of the company’s stock valued at $66,000 after buying an additional 90 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Everest Group during the second quarter worth $384,000. Marshall Wace LLP bought a new position in shares of Everest Group in the second quarter worth $238,000. Jump Financial LLC bought a new position in shares of Everest Group in the second quarter worth $1,510,000. Finally, Federated Hermes Inc. grew its position in shares of Everest Group by 3.7% in the second quarter. Federated Hermes Inc. now owns 14,411 shares of the company’s stock valued at $4,898,000 after purchasing an additional 510 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

Everest Group Price Performance

Shares of NYSE EG opened at $374.92 on Tuesday. The stock’s 50-day simple moving average is $371.09 and its two-hundred day simple moving average is $348.97. Everest Group, Ltd. has a twelve month low of $302.44 and a twelve month high of $401.07. The firm has a market capitalization of $14.37 billion, a P/E ratio of 7.93, a P/E/G ratio of 0.74 and a beta of 0.29. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $14.85 earnings per share (EPS) for the quarter. The firm had revenue of $3.96 billion during the quarter. Everest Group had a return on equity of 13.63% and a net margin of 11.41%. As a group, equities analysts anticipate that Everest Group, Ltd. will post 53.28 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 9th. Everest Group’s payout ratio is currently 16.92%.

Wall Street Analysts Forecast Growth

EG has been the topic of a number of analyst reports. Morgan Stanley boosted their price objective on Everest Group from $355.00 to $360.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods lifted their target price on Everest Group from $411.00 to $414.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. TD Cowen raised their price objective on shares of Everest Group from $365.00 to $385.00 and gave the company a “hold” rating in a research report on Wednesday, August 19th. Evercore set a $377.00 price objective on shares of Everest Group in a research note on Thursday, July 30th. Finally, UBS Group upped their target price on shares of Everest Group from $374.00 to $395.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company 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.