Principal Financial Group Inc. Grows Stock Holdings in EverQuote, Inc. $EVER

Principal Financial Group Inc. grew its position in EverQuote, Inc. (NASDAQ:EVER) by 219.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,574 shares of the company’s stock after buying an additional 94,467 shares during the quarter. Principal Financial Group Inc. owned 0.38% of EverQuote worth $2,121,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of EVER. Royal Bank of Canada boosted its holdings in EverQuote by 1,705.9% during the 1st quarter. Royal Bank of Canada now owns 65,428 shares of the company’s stock valued at $1,713,000 after acquiring an additional 61,805 shares during the period. Amundi purchased a new stake in EverQuote during the first quarter worth about $290,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in EverQuote by 4.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,007 shares of the company’s stock worth $393,000 after purchasing an additional 624 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of EverQuote by 615.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 339,672 shares of the company’s stock worth $8,896,000 after purchasing an additional 292,172 shares in the last quarter. Finally, Creative Planning lifted its position in shares of EverQuote by 32.4% during the second quarter. Creative Planning now owns 10,526 shares of the company’s stock worth $255,000 after purchasing an additional 2,576 shares in the last quarter. Hedge funds and other institutional investors own 91.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on EVER shares. JPMorgan Chase & Co. lifted their price objective on shares of EverQuote from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. Wall Street Zen upgraded shares of EverQuote from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Weiss Ratings raised shares of EverQuote from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of EverQuote in a research note on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.17.

Insider Buying and Selling

In other EverQuote news, CAO Jon Ayotte sold 4,611 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $24.15, for a total transaction of $111,355.65. Following the transaction, the chief accounting officer directly owned 74,580 shares of the company’s stock, valued at approximately $1,801,107. This trade represents a 5.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Brainard sold 4,960 shares of EverQuote stock in a transaction on Monday, July 6th. The shares were sold at an average price of $25.51, for a total transaction of $126,529.60. Following the completion of the transaction, the chief technology officer owned 165,336 shares in the company, valued at approximately $4,217,721.36. This represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 57,891 shares of company stock worth $1,243,447 in the last 90 days. Company insiders own 23.68% of the company’s stock.

EverQuote Trading Down 6.6%

Shares of NASDAQ EVER opened at $25.05 on Friday. EverQuote, Inc. has a twelve month low of $13.88 and a twelve month high of $28.73. The stock has a 50 day moving average of $22.55 and a two-hundred day moving average of $19.48. The stock has a market cap of $902.55 million, a P/E ratio of 8.52 and a beta of 0.61.

EverQuote (NASDAQ:EVER) last announced its earnings results on Monday, May 4th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. The business had revenue of $190.85 million for the quarter, compared to analyst estimates of $180.10 million. EverQuote had a net margin of 15.35% and a return on equity of 53.39%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. As a group, research analysts predict that EverQuote, Inc. will post 1.72 earnings per share for the current year.

About EverQuote

EverQuote, Inc operates an online insurance marketplace that connects consumers with insurance providers across the United States. Founded in 2011 and headquartered in Cambridge, Massachusetts, the company leverages proprietary technology to match individuals seeking coverage with insurers offering competitive rates. Since its initial public offering in 2020, EverQuote has focused on expanding its digital platform and enhancing the efficiency of its lead-generation processes.

The company’s core business centers on a quote-comparison engine for personal auto, home, and health insurance products.