Wells Fargo Sticks to Their Hold Rating for Everest Group (EG)

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Wells Fargo analyst Elyse Greenspan maintained a Hold rating on Everest Group (EG – Research Report) today and set a price target of $406.00. The company’s shares closed yesterday at $388.89.

Greenspan covers the Financial sector, focusing on stocks such as Aon, Arthur J Gallagher & Co, and Progressive. According to TipRanks, Greenspan has an average return of 8.6% and a 64.53% success rate on recommended stocks.

Currently, the analyst consensus on Everest Group is a Moderate Buy with an average price target of $437.33.

Based on Everest Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.23 billion and a net profit of $724 million. In comparison, last year the company earned a revenue of $3.65 billion and had a net profit of $670 million

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Everest Group (EG) Company Description:

Everest Re Group Ltd is an insurance and reinsurance company with a distribution network. The company’s segments include: the U.S. Reinsurance segment that writes property and casualty reinsurance for large U.S. insurance companies and special lines of business comprising of Marine, Aviation, Surety, and Accident and Health business; the International segment, which focuses on several international reinsurance markets including Canada, Asia, Latin America, Brazil, Africa and the Middle East; the Bermuda segment that writes property and casualty reinsurance through Bermuda Re, the U.K. branch and Ireland Re; and the Insurance segment that writes insurance including property casualty insurance. The U.S. Reinsurance segment generates the majority of the revenue for the company.

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