Wellington Management Group LLP Cuts Stock Holdings in Everest Group, Ltd. $EG

Wellington Management Group LLP lowered its stake in shares of Everest Group, Ltd. (NYSE:EG) by 51.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 470,633 shares of the company’s stock after selling 501,236 shares during the quarter. Wellington Management Group LLP owned 1.23% of Everest Group worth $168,124,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. BlackRock Inc. purchased a new position in Everest Group during the 2nd quarter worth $1,150,555,000. AQR Capital Management LLC raised its holdings in shares of Everest Group by 70.3% in the third quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock valued at $695,275,000 after purchasing an additional 830,418 shares during the last quarter. State Street Corp lifted its position in shares of Everest Group by 0.4% during the fourth quarter. State Street Corp now owns 1,906,692 shares of the company’s stock valued at $647,036,000 after purchasing an additional 7,806 shares in the last quarter. Norges Bank bought a new position in shares of Everest Group during the fourth quarter valued at about $630,277,000. Finally, Vulcan Value Partners LLC boosted its holdings in Everest Group by 6.5% during the fourth quarter. Vulcan Value Partners LLC now owns 1,509,740 shares of the company’s stock worth $512,288,000 after purchasing an additional 92,274 shares during the last quarter. 92.64% of the stock is currently owned by institutional investors.

Everest Group Stock Down 0.7%

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

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 company had revenue of $3.96 billion during the quarter. Everest Group had a net margin of 11.41% and a return on equity of 13.63%. As a group, equities analysts expect that Everest Group, Ltd. will post 53.28 earnings per share for the current year.

Everest Group Announces Dividend

The company 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 $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 dividend payout ratio (DPR) is currently 16.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Wells Fargo & Company lifted their target price on shares of Everest Group from $373.00 to $396.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods upped 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. Morgan Stanley increased their price target on Everest Group from $355.00 to $360.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Finally, BMO Capital Markets lifted their price target on Everest Group from $366.00 to $376.00 and gave the stock a “market perform” rating in a report on Thursday, May 14th. Four equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $395.27.

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.