Merit Financial Group LLC Sells 1,613 Shares of Everest Group, Ltd. $EG

Merit Financial Group LLC lowered its position in Everest Group, Ltd. (NYSE:EG) by 28.4% during the 4th quarter, Holdings Channel reports. The firm owned 4,065 shares of the company’s stock after selling 1,613 shares during the quarter. Merit Financial Group LLC’s holdings in Everest Group were worth $1,380,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in Everest Group by 70.3% in the third quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock worth $695,275,000 after purchasing an additional 830,418 shares in the last quarter. Vulcan Value Partners LLC grew its stake in Everest Group by 13.9% in the third quarter. Vulcan Value Partners LLC now owns 1,417,466 shares of the company’s stock worth $496,514,000 after purchasing an additional 172,479 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Everest Group by 6.1% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 999,581 shares of the company’s stock worth $350,083,000 after purchasing an additional 57,907 shares in the last quarter. Boston Partners grew its stake in Everest Group by 28.9% in the third quarter. Boston Partners now owns 729,019 shares of the company’s stock worth $255,334,000 after purchasing an additional 163,316 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake 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 worth $228,418,000 after purchasing an additional 29,586 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.

Everest Group Stock Down 1.3%

Shares of NYSE EG opened at $345.13 on Thursday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $17.17 billion, a PE ratio of 9.12, a price-to-earnings-growth ratio of 0.26 and a beta of 0.34. The stock’s fifty day simple moving average is $332.47 and its two-hundred day simple moving average is $329.97. Everest Group, Ltd. has a 12-month low of $302.44 and a 12-month high of $368.29.

Everest Group (NYSE:EG) last announced its earnings results on Thursday, February 5th. The company reported $13.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $13.36 by ($0.10). The company had revenue of $4.42 billion for 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 firm’s revenue was down 4.6% compared to the same quarter last year. During the same period last year, the business posted ($18.39) EPS. As a group, analysts expect that Everest Group, Ltd. will post 52.99 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, March 13th. Everest Group’s dividend payout ratio (DPR) is 21.13%.

Analysts Set New Price Targets

Several brokerages recently issued reports on EG. Keefe, Bruyette & Woods dropped their price objective on Everest Group from $430.00 to $402.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Cantor Fitzgerald dropped their price objective on Everest Group from $348.00 to $344.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. Bank of America increased their price objective on Everest Group from $430.00 to $454.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Mizuho increased their target price on Everest Group from $360.00 to $365.00 and gave the company a “neutral” rating in a research report on Monday, April 13th. Finally, Barclays increased their target price on Everest Group from $377.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $366.14.

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.