Hsbc Holdings PLC Has $147.10 Million Stock Holdings in Everest Group, Ltd. $EG

Hsbc Holdings PLC lifted its holdings in Everest Group, Ltd. (NYSE:EG) by 507.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 449,919 shares of the company’s stock after purchasing an additional 375,846 shares during the quarter. Hsbc Holdings PLC’s holdings in Everest Group were worth $147,102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EG. Activest Wealth Management bought a new stake in Everest Group during the 4th quarter worth about $34,000. Raiffeisen Bank International AG bought a new position in shares of Everest Group in the fourth quarter worth about $34,000. Cullen Frost Bankers Inc. bought a new position in shares of Everest Group in the fourth quarter worth about $37,000. CYBER HORNET ETFs LLC bought a new position in shares of Everest Group in the second quarter worth about $39,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Everest Group during the second quarter worth approximately $43,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insider Buying and Selling

In other Everest Group news, CEO Jason Keen sold 775 shares of Everest Group stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $351.84, for a total transaction 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 approximately $2,874,532.80. The trade was a 8.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Everest Group Stock Performance

Everest Group stock opened at $382.76 on Friday. The company has a market cap of $15.15 billion, a PE ratio of 7.78, a PEG ratio of 0.59 and a beta of 0.29. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.23. Everest Group, Ltd. has a 1 year low of $302.44 and a 1 year high of $385.69. The company’s 50-day moving average is $349.83 and its two-hundred day moving average is $338.94.

Everest Group (NYSE:EG) last issued its quarterly earnings results on Monday, March 23rd. The company reported $16.08 EPS for the quarter. The company had revenue of $4.07 billion during the quarter. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. Equities analysts anticipate that Everest Group, Ltd. will post 52.88 earnings per share for the current year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $8.00 dividend on an annualized basis and a yield of 2.1%. Everest Group’s dividend payout ratio (DPR) is presently 16.27%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on EG shares. Wells Fargo & Company increased their price target on shares of Everest Group from $356.00 to $373.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Bank of America boosted their price objective on shares of Everest Group from $430.00 to $454.00 and gave the stock a “buy” rating in a research report on Tuesday, April 14th. Keefe, Bruyette & Woods upped their price objective on Everest Group from $411.00 to $414.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Citigroup increased their price objective on Everest Group from $342.00 to $395.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings raised Everest Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, July 10th. Four analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $387.73.

Everest Group Company 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.