Balyasny Asset Management L.P. Has $169.23 Million Stake in Everest Group, Ltd. $EG

Balyasny Asset Management L.P. grew its holdings in Everest Group, Ltd. (NYSE:EG) by 181.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 498,697 shares of the company’s stock after buying an additional 321,376 shares during the period. Balyasny Asset Management L.P.’s holdings in Everest Group were worth $169,233,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Activest Wealth Management acquired a new position in shares of Everest Group in the 4th quarter valued at about $34,000. Raiffeisen Bank International AG acquired a new position in shares of Everest Group in the 4th quarter valued at about $34,000. Cullen Frost Bankers Inc. acquired a new position in shares of Everest Group in the 4th quarter valued at about $37,000. CYBER HORNET ETFs LLC acquired a new position in shares of Everest Group in the 2nd quarter valued at about $39,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Everest Group in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

Insider Activity

In related 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 value 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Everest Group Stock Down 0.1%

EG stock opened at $337.48 on Thursday. 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 $368.29. The company has a fifty day simple moving average of $342.41 and a 200 day simple moving average of $333.18. The firm has a market cap of $13.35 billion, a PE ratio of 6.86, a PEG ratio of 0.52 and a beta of 0.31.

Everest Group (NYSE:EG) last released its quarterly earnings data on Monday, March 23rd. The company reported $16.08 earnings per share (EPS) for the quarter. Everest Group had a net margin of 11.76% and a return on equity of 14.70%. The business had revenue of $4.07 billion during the quarter. Sell-side analysts anticipate that Everest Group, Ltd. will post 52.79 EPS for the current fiscal year.

Everest Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, June 12th. Everest Group’s payout ratio is presently 16.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EG shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Everest Group in a report on Friday, May 22nd. Bank of America boosted their target price on Everest Group from $430.00 to $454.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods boosted their target price on Everest Group from $402.00 to $411.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Morgan Stanley boosted their target price on Everest Group from $340.00 to $355.00 and gave the company an “equal weight” rating in a research note on Thursday, May 21st. Finally, BMO Capital Markets boosted their target price on Everest Group from $366.00 to $376.00 and gave the company a “market perform” rating in a research note on Thursday, May 14th. Five equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the company 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.