Assetmark Inc. Has $148.28 Million Position in Everest Group, Ltd. $EG

Assetmark Inc. lessened its position in shares of Everest Group, Ltd. (NYSE:EG) by 5.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 423,370 shares of the company’s stock after selling 23,199 shares during the quarter. Assetmark Inc.’s holdings in Everest Group were worth $148,277,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Natixis boosted its position in shares of Everest Group by 1,456.3% during the 2nd quarter. Natixis now owns 65,941 shares of the company’s stock valued at $22,410,000 after purchasing an additional 61,704 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Everest Group by 1,863.2% in the 2nd quarter. Osaic Holdings Inc. now owns 25,208 shares of the company’s stock valued at $9,137,000 after buying an additional 23,924 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of 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 buying an additional 91,799 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Everest Group by 4.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 652,194 shares of the company’s stock valued at $228,418,000 after acquiring an additional 29,586 shares during the period. Finally, Brighton Jones LLC raised its position in shares of Everest Group by 157.9% in the third 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 during the period. 92.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

EG has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Everest Group from $365.00 to $377.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Zacks Research upgraded Everest Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Evercore set a $365.00 price target on Everest Group in a research report on Wednesday, January 7th. Wells Fargo & Company reduced their price objective on shares of Everest Group from $332.00 to $310.00 and set an “equal weight” rating for the company in a research note on Friday, February 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a report on Thursday, January 22nd. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $363.21.

Everest Group Price Performance

EG stock opened at $335.87 on Friday. The company has a market capitalization of $14.10 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 0.24 and a beta of 0.36. The company’s fifty day moving average price is $328.51 and its 200-day moving average price is $332.40. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $370.20. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.39 and a current ratio of 0.37.

Everest Group (NYSE:EG) last announced its quarterly 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). The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $3.97 billion. Everest Group had a net margin of 9.09% and a return on equity of 12.50%. The business’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($18.39) earnings per share. On average, equities analysts anticipate 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.