Everest Group, Ltd. $EG Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in shares of Everest Group, Ltd. (NYSE:EG) by 99.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 74,073 shares of the company’s stock after buying an additional 36,876 shares during the quarter. Hsbc Holdings PLC’s holdings in Everest Group were worth $25,274,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Activest Wealth Management purchased a new position in shares of Everest Group in the 4th quarter worth $34,000. Raiffeisen Bank International AG purchased a new stake in Everest Group during the fourth quarter valued at about $34,000. Cullen Frost Bankers Inc. purchased a new stake in Everest Group during the fourth quarter valued at about $37,000. CYBER HORNET ETFs LLC acquired a new stake in Everest Group during the second quarter worth about $39,000. Finally, MUFG Securities EMEA plc acquired a new stake in Everest Group during the second quarter worth about $43,000. 92.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Mizuho lifted their price objective on Everest Group from $365.00 to $388.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Everest Group in a research report on Friday, May 22nd. Citigroup raised their price target on shares of Everest Group from $342.00 to $395.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Wells Fargo & Company lifted their price target on shares of Everest Group from $332.00 to $356.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Barclays boosted their price objective on shares of Everest Group from $377.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Four analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Everest Group has an average rating of “Hold” and an average target price of $370.07.

Insiders Place Their Bets

In other Everest Group news, CEO Jason Keen sold 775 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $351.84, for a total value of $272,676.00. Following the completion of the sale, the chief executive officer owned 8,170 shares of the company’s stock, valued at $2,874,532.80. This trade represents a 8.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Everest Group Trading Up 0.7%

NYSE:EG opened at $345.98 on Thursday. The business’s 50-day moving average is $343.24 and its two-hundred day moving average is $334.13. The firm has a market capitalization of $13.69 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 0.53 and a beta of 0.31. Everest Group, Ltd. has a 12 month low of $302.44 and a 12 month high of $368.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.37 and a quick ratio of 0.37.

Everest Group (NYSE:EG) last issued its earnings results on Monday, March 23rd. The company reported $16.08 earnings per share for the quarter. Everest Group had a return on equity of 14.70% and a net margin of 11.76%.The company had revenue of $4.07 billion during the quarter. Research analysts predict that Everest Group, Ltd. will post 52.79 earnings per share for the current fiscal year.

Everest Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, June 12th. Everest Group’s dividend payout ratio is currently 16.27%.

About Everest Group

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.