Donald Smith & CO. Inc. Grows Holdings in Everest Group, Ltd. $EG

Donald Smith & CO. Inc. lifted its holdings in Everest Group, Ltd. (NYSE:EG) by 11.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 435,696 shares of the company’s stock after acquiring an additional 44,272 shares during the quarter. Everest Group makes up approximately 2.8% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 11th biggest position. Donald Smith & CO. Inc.’s holdings in Everest Group were worth $147,853,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. AQR Capital Management LLC grew its position in shares of Everest Group by 70.3% in the 3rd quarter. AQR Capital Management LLC now owns 2,011,033 shares of the company’s stock worth $695,275,000 after buying an additional 830,418 shares during the period. Norges Bank purchased a new stake in shares of Everest Group in the 4th quarter worth about $630,277,000. Vulcan Value Partners LLC grew its position in shares of Everest Group by 6.5% in the 4th quarter. Vulcan Value Partners LLC now owns 1,509,740 shares of the company’s stock worth $512,288,000 after buying an additional 92,274 shares during the period. Geode Capital Management LLC grew its position in shares of Everest Group by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,170,210 shares of the company’s stock worth $395,671,000 after buying an additional 4,978 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Everest Group by 6.1% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 999,581 shares of the company’s stock worth $350,083,000 after buying an additional 57,907 shares during the period. 92.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Everest Group

In related news, CEO Jason Keen sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $351.84, for a total value of $272,676.00. Following the sale, the chief executive officer owned 8,170 shares in the company, valued at approximately $2,874,532.80. This trade represents a 8.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Everest Group Stock Performance

Shares of EG stock opened at $336.69 on Thursday. Everest Group, Ltd. has a one year low of $302.44 and a one year high of $368.29. The company’s 50-day moving average is $341.29 and its 200 day moving average is $332.26. The company has a market capitalization of $13.32 billion, a price-to-earnings ratio of 6.85, a price-to-earnings-growth ratio of 0.52 and a beta of 0.31. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.37 and a current ratio of 0.37.

Everest Group (NYSE:EG) last announced its quarterly earnings results on Monday, March 23rd. The company reported $16.08 earnings per share (EPS) for the quarter. The firm had revenue of $4.07 billion for the quarter. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. Sell-side analysts expect that Everest Group, Ltd. will post 52.62 EPS for the current fiscal year.

Everest Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a $2.00 dividend. The ex-dividend date is Friday, June 12th. This represents a $8.00 annualized dividend and a yield of 2.4%. Everest Group’s dividend payout ratio (DPR) is currently 16.27%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EG. Wells Fargo & Company upped their target price on shares of Everest Group from $332.00 to $356.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Morgan Stanley upped their target price on shares of Everest Group from $340.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Citigroup upped their target price on shares of Everest Group from $342.00 to $395.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Everest Group in a research report on Friday, May 22nd. Finally, Bank of America increased their price objective on shares of Everest Group from $430.00 to $454.00 and gave the company a “buy” rating in a research report on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, Everest Group has a consensus rating of “Hold” and an average price target of $373.73.

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.