Edward S. Hyman, Vice Chair of Evercore Inc. (NYSE:EVR), recently sold shares of the company's Class A common stock, totaling approximately $12.77 million. The transactions, which took place over three consecutive days, involved the sale of 10,855 shares on November 20 at prices ranging from $295.26 to $301.79, 9,888 shares on November 21 at prices from $302.25 to $312.45, and 20,814 shares on November 22 at prices from $309.17 to $313.74. Following these transactions, Hyman retains ownership of 1,706,519 shares in the company.
In other recent news, Evercore (NYSE: EVR) reported strong Q3 2024 financial results, with adjusted net revenues up by 28% year-over-year to approximately $740 million. Adjusted operating income and earnings per share also saw significant increases, up by 63% and 57% respectively. The firm returned $529 million to shareholders in the first nine months of 2024, while Advisory Fees and Underwriting Fees saw substantial increases of 30% and 43%.
Meanwhile, the U.S. presidential election is in focus, with analysts predicting a bullish response for equity markets if former President Donald Trump is victorious. Certain sectors such as banks, crypto, energy, and small-cap stocks may see potential gains from a Trump win. On the other hand, a victory for Vice President Kamala Harris could influence sectors like homebuilders, healthcare, and renewable stocks.
These are recent developments that investors and analysts are considering as they prepare for market reactions following the election outcome. Evercore's CEO expressed optimism for the market's gradual recovery and anticipated increased M&A activity in 2025, despite uncertainties such as the election and geopolitical tensions.
InvestingPro Insights
Edward S. Hyman's recent sale of Evercore Inc. (NYSE:EVR) shares comes at a time when the company's stock is experiencing significant momentum. According to InvestingPro data, Evercore has seen a remarkable 116.2% price total return over the past year, with a particularly strong 56.74% return in the last six months. This performance aligns with an InvestingPro Tip indicating that Evercore has shown a "Strong return over the last three months."
The company's financial health appears robust, with a market capitalization of $12.4 billion and a revenue of $2.79 billion over the last twelve months as of Q3 2024. Evercore's profitability is noteworthy, as highlighted by an InvestingPro Tip stating that the company has been "Profitable over the last twelve months." This is further supported by a gross profit margin of 93.9% for the same period.
Despite the strong performance, investors should note that Evercore is currently trading at a high earnings multiple, with a P/E ratio of 37.02. This valuation metric suggests that the stock may be priced at a premium relative to its earnings, which could be a consideration for potential investors.
For those interested in dividend stocks, Evercore presents an attractive profile. An InvestingPro Tip reveals that the company "Has raised its dividend for 18 consecutive years," demonstrating a commitment to shareholder returns. The current dividend yield stands at 1.03%, with a 5.26% dividend growth rate over the last twelve months.
InvestingPro offers 13 additional tips for Evercore, providing a more comprehensive analysis for investors looking to delve deeper into the company's prospects. These insights can be particularly valuable given the recent insider selling activity and the stock's current valuation.
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