W. R. Berkley (NYSE:WRB - Free Report) had its price target hoisted by Wells Fargo & Company from $92.00 to $99.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the insurance provider's stock.
WRB has been the topic of several other reports. Evercore ISI restated an in-line rating and issued a $79.00 price objective (up from $69.00) on shares of W. R. Berkley in a research report on Tuesday, January 9th. BMO Capital Markets upped their price objective 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. Truist Financial upped their price objective on W. R. Berkley from $83.00 to $95.00 and gave the company a buy rating in a research report on Thursday, January 25th. UBS Group increased their target price on W. R. Berkley from $81.00 to $93.00 and gave the stock a buy rating in a research report on Tuesday, January 30th. Finally, Royal Bank of Canada increased their target price on W. R. Berkley from $73.00 to $79.00 and gave the stock a sector perform rating in a research report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $88.50.
Check Out Our Latest Analysis on W. R. Berkley
W. R. Berkley Price Performance
W. R. Berkley stock traded down $1.75 during trading hours on Thursday, hitting $82.18. The stock had a trading volume of 1,188,826 shares, compared to its average volume of 1,187,660. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market capitalization of $21.08 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 1.60 and a beta of 0.57. W. R. Berkley has a 1-year low of $55.50 and a 1-year high of $89.18. The stock's fifty day moving average is $84.35 and its two-hundred day moving average is $75.00.
W. R. Berkley (NYSE:WRB - Get Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The insurance provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.10. W. R. Berkley had a return on equity of 19.03% and a net margin of 11.38%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the business earned $1.16 earnings per share. The business's revenue was up 6.9% on a year-over-year basis. As a group, analysts predict that W. R. Berkley will post 6.03 earnings per share for the current fiscal year.
W. R. Berkley Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Stockholders of record on Monday, March 4th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.54%. W. R. Berkley's dividend payout ratio (DPR) is 8.70%.
Hedge Funds Weigh In On W. R. Berkley
Large investors have recently modified their holdings of the company. Bruce G. Allen Investments LLC purchased a new position in shares of W. R. Berkley in the 4th quarter worth about $25,000. Glassman Wealth Services grew its stake in shares of W. R. Berkley by 123.1% in the fourth quarter. Glassman Wealth Services now owns 357 shares of the insurance provider's stock valued at $25,000 after buying an additional 197 shares in the last quarter. Clear Street Markets LLC grew its stake in shares of W. R. Berkley by 92.3% in the first quarter. Clear Street Markets LLC now owns 398 shares of the insurance provider's stock valued at $25,000 after buying an additional 191 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of W. R. Berkley by 106.1% in the third quarter. Parkside Financial Bank & Trust now owns 406 shares of the insurance provider's stock valued at $26,000 after buying an additional 209 shares in the last quarter. Finally, Raleigh Capital Management Inc. grew its stake in shares of W. R. Berkley by 132.6% in the third quarter. Raleigh Capital Management Inc. now owns 414 shares of the insurance provider's stock valued at $26,000 after buying an additional 236 shares in the last quarter. 68.82% of the stock is currently owned by hedge funds and other institutional investors.
W. R. Berkley Company Profile
(
Get Free Report)
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.
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