Wells Fargo & Company Issues Positive Forecast for W. R. Berkley (NYSE:WRB) Stock Price

W. R. Berkley (NYSE:WRB - Get Free Report) had its price objective hoisted by Wells Fargo & Company from $69.00 to $70.00 in a note issued to investors on Tuesday, MarketBeat reports. The brokerage currently has an "equal weight" rating on the insurance provider's stock. Wells Fargo & Company's price target indicates a potential downside of 0.67% from the stock's previous close.

Several other research analysts have also weighed in on WRB. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $63.00 target price on shares of W. R. Berkley in a research note on Tuesday, January 28th. Bank of America reaffirmed a "neutral" rating and set a $74.00 price objective (up previously from $73.00) on shares of W. R. Berkley in a research report on Tuesday, April 1st. Barclays boosted their target price on W. R. Berkley from $52.00 to $62.00 and gave the company an "underweight" rating in a research report on Friday, April 11th. Jefferies Financial Group raised their price target on W. R. Berkley from $57.00 to $66.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. Finally, Truist Financial boosted their price objective on W. R. Berkley from $68.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, W. R. Berkley has an average rating of "Hold" and an average price target of $67.64.

W. R. Berkley Trading Down 1.8 %

Shares of W. R. Berkley stock traded down $1.28 during mid-day trading on Tuesday, hitting $70.47. The stock had a trading volume of 1,814,722 shares, compared to its average volume of 1,771,303. The firm has a market cap of $26.73 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 1.56 and a beta of 0.40. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average of $65.50 and a two-hundred day moving average of $61.83. W. R. Berkley has a 12-month low of $51.13 and a 12-month high of $76.38.

W. R. Berkley (NYSE:WRB - Get Free Report) last posted its earnings results on Monday, April 21st. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.07). W. R. Berkley had a return on equity of 20.83% and a net margin of 12.88%. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.01 billion. Sell-side analysts forecast that W. R. Berkley will post 4.33 earnings per share for the current year.

Institutional Investors Weigh In On W. R. Berkley

Large investors have recently modified their holdings of the company. Optiver Holding B.V. increased its holdings in W. R. Berkley by 107.3% in the fourth quarter. Optiver Holding B.V. now owns 427 shares of the insurance provider's stock valued at $25,000 after buying an additional 221 shares during the last quarter. Garde Capital Inc. acquired a new position in shares of W. R. Berkley during the 1st quarter worth about $30,000. Whipplewood Advisors LLC purchased a new position in shares of W. R. Berkley in the 4th quarter valued at about $35,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of W. R. Berkley during the 4th quarter worth about $37,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in W. R. Berkley during the fourth quarter worth approximately $42,000. 68.82% of the stock is 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.