W.R. Berkley Corporation (NYSE:WRB) Receives Average Rating of “Reduce” from Brokerages

Shares of W.R. Berkley Corporation (NYSE:WRB) have been given a consensus rating of “Reduce” by the eighteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $70.8333.

A number of analysts have recently commented on the stock. UBS Group restated a “neutral” rating and set a $77.00 target price (up from $71.00) on shares of W.R. Berkley in a report on Monday, July 27th. Atlantic Securities set a $74.00 price target on shares of W.R. Berkley in a research note on Wednesday, July 15th. The Goldman Sachs Group raised shares of W.R. Berkley from a “neutral” rating to a “buy” rating and lifted their price target for the company from $71.00 to $73.00 in a research report on Monday, June 8th. Wolfe Research lowered shares of W.R. Berkley from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Finally, Truist Financial upped their price objective on shares of W.R. Berkley from $78.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Entrust Financial LLC bought a new stake in W.R. Berkley in the fourth quarter worth $25,000. Hazlett Burt & Watson Inc. increased its holdings in shares of W.R. Berkley by 140.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 210 shares in the last quarter. Allied Private Wealth LLC purchased a new position in shares of W.R. Berkley in the 2nd quarter worth about $29,000. IFP Advisors Inc raised its position in shares of W.R. Berkley by 44.7% in the 2nd quarter. IFP Advisors Inc now owns 466 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 144 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in W.R. Berkley in the 2nd quarter worth about $49,000. Institutional investors own 68.82% of the company’s stock.

W.R. Berkley Trading Down 1.9%

WRB opened at $69.94 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.29. W.R. Berkley has a 52 week low of $62.87 and a 52 week high of $78.96. The stock has a market cap of $25.96 billion, a PE ratio of 14.36, a PEG ratio of 1.77 and a beta of 0.28. The business has a 50 day moving average of $70.93 and a 200-day moving average of $68.74.

W.R. Berkley (NYSE:WRB) last issued its quarterly earnings results on Monday, July 20th. The insurance provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.19. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.28 billion. W.R. Berkley had a return on equity of 19.44% and a net margin of 12.94%.The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 earnings per share. Equities research analysts predict that W.R. Berkley will post 4.87 earnings per share for the current fiscal year.

W.R. Berkley Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, September 21st. W.R. Berkley’s payout ratio is currently 8.21%.

About W.R. Berkley

W.R. Berkley Corporation (NYSE: WRB) is an insurance holding company that operates through a group of property and casualty insurance businesses. The company provides commercial insurance and reinsurance products for businesses, organizations and other insurance companies, with an emphasis on specialty and complex risks.

Its offerings include commercial property and casualty coverage, excess and surplus lines, professional liability, workers’ compensation, commercial automobile insurance, marine insurance and other specialty products.