South Dakota Investment Council Cuts Stake in Everest Group, Ltd. $EG

South Dakota Investment Council cut its position in Everest Group, Ltd. (NYSE:EG) by 10.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 93,491 shares of the company’s stock after selling 10,490 shares during the quarter. Everest Group accounts for approximately 0.6% of South Dakota Investment Council’s investment portfolio, making the stock its 18th biggest holding. South Dakota Investment Council’s holdings in Everest Group were worth $32,743,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Everest Group during the 2nd quarter valued at $601,300,000. Vulcan Value Partners LLC lifted its stake in Everest Group by 13.9% during the 3rd quarter. Vulcan Value Partners LLC now owns 1,417,466 shares of the company’s stock valued at $496,514,000 after acquiring an additional 172,479 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Everest Group by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,211,474 shares of the company’s stock valued at $414,385,000 after acquiring an additional 6,217 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Everest Group by 65.6% during the second quarter. AQR Capital Management LLC now owns 1,180,615 shares of the company’s stock valued at $399,626,000 after purchasing an additional 467,656 shares during the last quarter. Finally, Altrinsic Global Advisors LLC lifted its position in Everest Group by 37.2% during the second quarter. Altrinsic Global Advisors LLC now owns 937,296 shares of the company’s stock valued at $318,540,000 after purchasing an additional 254,317 shares during the period. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

Everest Group Price Performance

NYSE:EG opened at $340.01 on Tuesday. The business’s 50-day simple moving average is $332.47 and its two-hundred day simple moving average is $333.13. Everest Group, Ltd. has a 52 week low of $302.44 and a 52 week high of $370.20. The stock has a market cap of $13.73 billion, a PE ratio of 8.98, a P/E/G ratio of 0.24 and a beta of 0.34. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $13.26 earnings per share for the quarter, missing the consensus estimate of $13.36 by ($0.10). The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $3.97 billion. Everest Group had a return on equity of 12.50% and a net margin of 9.09%.The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($18.39) earnings per share. As a group, analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $8.00 dividend on an annualized basis and a yield of 2.4%. Everest Group’s payout ratio is presently 21.13%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald decreased their target price on shares of Everest Group from $348.00 to $344.00 and set a “neutral” rating for the company in a research note on Wednesday, January 14th. Raymond James Financial reiterated an “outperform” rating and set a $350.00 price objective on shares of Everest Group in a research report on Monday, November 3rd. Barclays raised their target price on Everest Group from $365.00 to $377.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Everest Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $363.21.

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.