Clear Harbor Asset Management LLC Grows Stock Position in Everest Group, Ltd. $EG

Clear Harbor Asset Management LLC increased its stake in Everest Group, Ltd. (NYSE:EG) by 9.2% in the third quarter, Holdings Channel reports. The institutional investor owned 17,942 shares of the company’s stock after acquiring an additional 1,517 shares during the period. Clear Harbor Asset Management LLC’s holdings in Everest Group were worth $6,284,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of EG. Board of the Pension Protection Fund bought a new stake in shares of Everest Group in the 2nd quarter worth about $34,000. CYBER HORNET ETFs LLC bought a new stake in Everest Group in the second quarter worth about $39,000. MUFG Securities EMEA plc purchased a new position in shares of Everest Group during the second quarter valued at approximately $43,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Everest Group by 86.4% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the company’s stock valued at $53,000 after buying an additional 70 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Everest Group by 96.8% in the second quarter. Allworth Financial LP now owns 183 shares of the company’s stock worth $62,000 after buying an additional 90 shares during the period. Institutional investors own 92.64% of the company’s stock.

Everest Group Stock Up 2.0%

NYSE:EG opened at $337.91 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.39 and a quick ratio of 0.39. Everest Group, Ltd. has a 1-year low of $302.44 and a 1-year high of $373.23. The company has a 50-day moving average of $323.88 and a 200 day moving average of $334.22. The firm has a market cap of $14.19 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 0.23 and a beta of 0.38.

Everest Group (NYSE:EG) last posted its quarterly earnings results on Monday, October 27th. The company reported $7.54 EPS for the quarter, missing the consensus estimate of $13.39 by ($5.85). Everest Group had a net margin of 3.12% and a return on equity of 3.74%. The business had revenue of $4.32 billion during the quarter, compared to the consensus estimate of $3.86 billion. During the same quarter in the prior year, the firm posted $11.80 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, research analysts anticipate that Everest Group, Ltd. will post 47.93 EPS for the current fiscal year.

Everest Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Wednesday, November 26th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, November 26th. Everest Group’s dividend payout ratio (DPR) is 60.93%.

Insiders Place Their Bets

In related news, Director William F. Galtney, Jr. purchased 11,385 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were acquired at an average cost of $307.38 per share, for a total transaction of $3,499,521.30. Following the acquisition, the director owned 45,491 shares of the company’s stock, valued at $13,983,023.58. The trade was a 33.38% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allan Levine purchased 3,100 shares of Everest Group stock in a transaction dated Wednesday, October 29th. The stock was bought at an average cost of $306.08 per share, with a total value of $948,848.00. Following the completion of the transaction, the director owned 4,153 shares in the company, valued at approximately $1,271,150.24. This represents a 294.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on EG shares. Zacks Research cut Everest Group from a “hold” rating to a “strong sell” rating in a report on Friday, December 12th. Mizuho started coverage on shares of Everest Group in a research note on Monday, December 15th. They set a “neutral” rating and a $359.00 target price for the company. Keefe, Bruyette & Woods raised their price target on shares of Everest Group from $400.00 to $430.00 and gave the stock an “outperform” rating in a research note on Tuesday. Raymond James Financial reiterated an “outperform” rating and set a $350.00 price objective on shares of Everest Group in a report on Monday, November 3rd. Finally, Wall Street Zen downgraded shares of Everest Group from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Five equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Everest Group currently has an average rating of “Hold” and a consensus target price of $369.40.

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.