W.R. Berkley (NYSE:WRB) Given “Neutral” Rating at UBS Group

W.R. Berkley (NYSE:WRB)‘s stock had its “neutral” rating restated by investment analysts at UBS Group in a report issued on Friday, Marketbeat reports. They presently have a $87.00 price objective on the insurance provider’s stock. UBS Group’s price objective suggests a potential upside of 15.77% from the stock’s current price.

A number of other analysts have also recently weighed in on WRB. Truist Financial set a $84.00 price objective on W.R. Berkley and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Jefferies Financial Group lowered their price objective on shares of W.R. Berkley from $76.00 to $75.00 and set a “hold” rating on the stock in a research report on Tuesday, October 21st. Cantor Fitzgerald set a $78.00 price objective on shares of W.R. Berkley in a research report on Monday, October 27th. Wells Fargo & Company set a $66.00 target price on shares of W.R. Berkley and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Finally, Barclays reiterated an “underweight” rating and set a $73.00 price target on shares of W.R. Berkley in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, W.R. Berkley presently has an average rating of “Hold” and an average price target of $74.46.

W.R. Berkley Stock Performance

Shares of WRB traded up $0.57 during mid-day trading on Friday, reaching $75.15. 390,291 shares of the company’s stock were exchanged, compared to its average volume of 2,056,065. The business’s fifty day simple moving average is $74.27 and its 200-day simple moving average is $72.45. W.R. Berkley has a 52-week low of $55.97 and a 52-week high of $78.48. The stock has a market capitalization of $28.56 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 2.73 and a beta of 0.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.37 and a quick ratio of 0.37.

W.R. Berkley (NYSE:WRB) last issued its quarterly earnings data on Monday, October 20th. The insurance provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.03. W.R. Berkley had a net margin of 13.01% and a return on equity of 19.35%. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the firm posted $0.93 EPS. W.R. Berkley’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities research analysts expect that W.R. Berkley will post 4.33 earnings per share for the current year.

Institutional Investors Weigh In On W.R. Berkley

Several institutional investors and hedge funds have recently made changes to their positions in WRB. Compass Financial Services Inc purchased a new stake in shares of W.R. Berkley in the third quarter valued at about $26,000. Hilltop National Bank purchased a new position in shares of W.R. Berkley during the 2nd quarter worth approximately $27,000. Twin Peaks Wealth Advisors LLC acquired a new stake in W.R. Berkley during the 2nd quarter valued at $27,000. Spectrum Wealth Counsel LLC acquired a new stake in W.R. Berkley during the 1st quarter valued at $29,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in W.R. Berkley during the second quarter worth $34,000. 68.82% of the stock is currently owned by hedge funds and other 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.