W. R. Berkley (NYSE:WRB) PT Lowered to $58.00

W. R. Berkley (NYSE:WRB) had its target price decreased by Keefe, Bruyette & Woods from $59.00 to $58.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 0.17% from the company’s current price.

Other analysts also recently issued reports about the company. Royal Bank of Canada upped their target price on W. R. Berkley from $57.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday. Bank of America upped their price objective on shares of W. R. Berkley from $65.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Evercore ISI increased their price objective on shares of W. R. Berkley from $57.00 to $60.00 and gave the stock an “in-line” rating in a research note on Tuesday. Barclays started coverage on shares of W. R. Berkley in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $56.00 target price for the company. Finally, StockNews.com lowered shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.25.

W. R. Berkley Stock Performance

NYSE:WRB traded down $2.93 during mid-day trading on Tuesday, reaching $58.10. 487,933 shares of the company’s stock were exchanged, compared to its average volume of 1,793,314. W. R. Berkley has a one year low of $41.82 and a one year high of $61.96. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38. The business’s fifty day simple moving average is $58.24 and its two-hundred day simple moving average is $55.55. The firm has a market capitalization of $22.28 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.07 and a beta of 0.62.

W. R. Berkley (NYSE:WRB) last announced its earnings results on Monday, October 21st. The insurance provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. The company had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.93 billion. W. R. Berkley had a net margin of 12.05% and a return on equity of 21.34%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. Analysts anticipate that W. R. Berkley will post 4.02 earnings per share for the current fiscal year.

Institutional Trading of W. R. Berkley

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Armstrong Advisory Group Inc. boosted its position in W. R. Berkley by 51.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider’s stock worth $35,000 after buying an additional 209 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of W. R. Berkley by 563.2% during the first quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 383 shares during the period. Quarry LP acquired a new stake in W. R. Berkley in the second quarter valued at $42,000. Kiely Wealth Advisory Group Inc. raised its position in W. R. Berkley by 49.9% during the 2nd quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 193 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in W. R. Berkley by 173.0% during the 1st quarter. Covestor Ltd now owns 546 shares of the insurance provider’s stock worth $48,000 after buying an additional 346 shares during the period. 68.82% of the stock is currently owned by institutional investors.

W. R. Berkley Company Profile

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writers worldwide. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines, and specialty personal lines.