Wells Fargo Issues a Hold Rating on Everest Re

In a report released today, Elyse Greenspan from Wells Fargo assigned a Hold rating to Everest Re (NYSE: RE), with a price target of $240. The company’s shares opened today at $227.79.

Greenspan commented:

“We are not making any changes to our EPS estimates or price target. The RE shares were unchanged following the meetings.”

According to TipRanks.com, Greenspan is a 3-star analyst with an average return of 5.3% and a 52.1% success rate. Greenspan covers the Financial sector, focusing on stocks such as American International Group, Marsh & Mclennan Companies, and Renaissancere Holdings Ltd.

Everest Re has an analyst consensus of Hold, with a price target consensus of $240.

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Based on Everest Re’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $208 million. In comparison, last year the company had a net profit of $289 million.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock.

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Everest Re Group Ltd. is a holding company, which engages in the provision of reinsurance and insurance services. It operates through four segments: U.S. Reinsurance, International, Bermuda and Insurance.