Envestnet Asset Management Inc. Trims Stock Position in Everest Group, Ltd. $EG

Envestnet Asset Management Inc. trimmed its stake in Everest Group, Ltd. (NYSE:EG) by 9.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,334 shares of the company’s stock after selling 15,313 shares during the period. Envestnet Asset Management Inc.’s holdings in Everest Group were worth $53,702,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Natixis raised its position in Everest Group by 1,456.3% during the 2nd quarter. Natixis now owns 65,941 shares of the company’s stock worth $22,410,000 after buying an additional 61,704 shares during the last quarter. Osaic Holdings Inc. raised its holdings in 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 in the last quarter. Balyasny Asset Management L.P. lifted 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 purchasing an additional 91,799 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Everest Group by 4.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 652,194 shares of the company’s stock valued at $228,418,000 after purchasing an additional 29,586 shares during the period. Finally, Brighton Jones LLC boosted 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 valued at $2,324,000 after purchasing an additional 4,062 shares in the last quarter. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EG. Barclays lifted their price target on Everest Group from $365.00 to $377.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of Everest Group in a research report on Thursday, January 22nd. Wolfe Research raised shares of Everest Group from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 29th. UBS Group reiterated a “buy” rating and issued a $345.00 price target on shares of Everest Group in a report on Monday, January 12th. Finally, TD Cowen decreased their price objective on shares of 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 ten have given a Hold rating to the stock. Based on data from MarketBeat, Everest Group presently has a consensus rating of “Hold” and an average target price of $363.07.

Everest Group Price Performance

Everest Group stock opened at $321.88 on Tuesday. The firm has a market capitalization of $13.51 billion, a PE ratio of 8.50, a P/E/G ratio of 0.24 and a beta of 0.36. Everest Group, Ltd. has a 52 week low of $302.44 and a 52 week high of $370.20. The firm’s 50-day simple moving average is $327.32 and its 200 day simple moving average is $332.42. The company has a quick ratio of 0.39, a current ratio of 0.37 and a debt-to-equity ratio of 0.23.

Everest Group (NYSE:EG) last announced its earnings results on Wednesday, February 4th. The company reported $13.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $13.36 by ($0.10). Everest Group had a return on equity of 12.50% and a net margin of 9.09%.The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the previous year, the firm posted ($18.39) EPS. The business’s revenue was down 4.6% on a year-over-year basis. On average, equities research analysts predict that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

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.