W. R. Berkley (NYSE:WRB) Price Target Raised to $73.00


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W. R. Berkley (NYSE:WRB) had its target price increased by Credit Suisse Group from $68.00 to $73.00 in a research note released on Monday morning, The Fly reports. They currently have an outperform rating on the insurance provider’s stock.

WRB has been the topic of a number of other reports. Zacks Investment Research downgraded shares of W. R. Berkley from a hold rating to a sell rating and set a $70.00 price objective on the stock. in a report on Monday, December 28th. The Goldman Sachs Group upgraded shares of W. R. Berkley from a sell rating to a neutral rating and lifted their price objective for the company from $53.00 to $70.00 in a report on Friday, January 8th. Morgan Stanley lifted their price objective on shares of W. R. Berkley from $70.00 to $75.00 and gave the company an equal weight rating in a report on Tuesday, November 24th. BidaskClub downgraded shares of W. R. Berkley from a sell rating to a strong sell rating in a report on Thursday, January 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of W. R. Berkley from $60.00 to $67.00 and gave the stock a hold rating in a report on Wednesday, October 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $68.75.

Shares of WRB opened at $66.56 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.45 and a current ratio of 0.45. W. R. Berkley has a twelve month low of $43.05 and a twelve month high of $79.92. The firm has a market cap of $11.85 billion, a P/E ratio of 37.18, a PEG ratio of 3.10 and a beta of 0.82. The firm’s 50 day moving average price is $65.89 and its two-hundred day moving average price is $63.28.

W. R. Berkley (NYSE:WRB) last posted its quarterly earnings data on Tuesday, October 20th. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.15). W. R. Berkley had a net margin of 4.57% and a return on equity of 7.55%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the business earned $0.85 earnings per share. W. R. Berkley’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, sell-side analysts anticipate that W. R. Berkley will post 2.2 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 29th. Shareholders of record on Tuesday, December 15th were issued a $0.12 dividend. The ex-dividend date was Monday, December 14th. This represents a $0.48 annualized dividend and a dividend yield of 0.72%. W. R. Berkley’s dividend payout ratio is currently 15.84%.

Several large investors have recently added to or reduced their stakes in WRB. Forsta AP Fonden acquired a new position in shares of W. R. Berkley in the third quarter valued at $31,000. NuWave Investment Management LLC acquired a new position in shares of W. R. Berkley in the third quarter valued at $35,000. NEXT Financial Group Inc acquired a new position in shares of W. R. Berkley in the third quarter valued at $47,000. Braun Bostich & Associates Inc. acquired a new position in shares of W. R. Berkley in the third quarter valued at $48,000. Finally, Rockbridge Investment Management LCC acquired a new position in shares of W. R. Berkley in the third quarter valued at $82,000. Hedge funds and other institutional investors own 71.04% of the company’s stock.

About W. R. Berkley

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.

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Analyst Recommendations for W. R. Berkley (NYSE:WRB)

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