W. R. Berkley (NYSE:WRB) Price Target Cut to $94.00

W. R. Berkley (NYSE:WRB) had its target price lowered by analysts at Wells Fargo & Company from $99.00 to $94.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 19.90% from the company’s previous close.

A number of other brokerages have also issued reports on WRB. BMO Capital Markets upped their target price on W. R. Berkley from $71.00 to $81.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Royal Bank of Canada upped their target price on W. R. Berkley from $73.00 to $79.00 and gave the company a “sector perform” rating in a research report on Thursday, January 25th. Truist Financial cut their target price on W. R. Berkley from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods upped their target price on W. R. Berkley from $85.00 to $88.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Finally, Evercore ISI upped their target price on W. R. Berkley from $83.00 to $89.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $89.00.

W. R. Berkley Trading Down 0.9 %

Shares of NYSE:WRB traded down $0.68 during trading on Wednesday, reaching $78.40. 1,057,266 shares of the stock were exchanged, compared to its average volume of 1,235,921. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 0.37. W. R. Berkley has a 12-month low of $55.50 and a 12-month high of $89.18. The firm has a market cap of $20.11 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.56 and a beta of 0.57. The firm’s 50-day moving average price is $84.55 and its 200 day moving average price is $76.20.

W. R. Berkley (NYSE:WRB) last released its quarterly earnings results on Tuesday, April 23rd. The insurance provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.46 by $0.10. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.77 billion. W. R. Berkley had a return on equity of 19.03% and a net margin of 11.38%. W. R. Berkley’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 EPS. On average, sell-side analysts anticipate that W. R. Berkley will post 5.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On W. R. Berkley

Hedge funds have recently modified their holdings of the stock. Bruce G. Allen Investments LLC purchased a new stake in W. R. Berkley in the 4th quarter worth about $25,000. Glassman Wealth Services lifted its stake in W. R. Berkley by 123.1% in the 4th quarter. Glassman Wealth Services now owns 357 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 197 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in W. R. Berkley by 106.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 406 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 209 shares in the last quarter. Raleigh Capital Management Inc. lifted its stake in W. R. Berkley by 132.6% in the 3rd quarter. Raleigh Capital Management Inc. now owns 414 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 236 shares in the last quarter. Finally, VisionPoint Advisory Group LLC purchased a new stake in W. R. Berkley in the 3rd quarter worth about $27,000. 68.82% of the stock is owned by hedge funds and other institutional investors.

About W. R. Berkley

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.