W.R. Berkley (NYSE:WRB - Get Free Report) had its price target decreased by equities researchers at Wells Fargo & Company from $71.00 to $68.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the insurance provider's stock. Wells Fargo & Company's target price points to a potential downside of 0.79% from the company's current price.
A number of other brokerages have also commented on WRB. Bank of America reissued a "neutral" rating and issued a $74.00 price objective (up previously from $73.00) on shares of W.R. Berkley in a research report on Tuesday, April 1st. Truist Financial raised their price objective on W.R. Berkley from $68.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, April 3rd. Barclays raised their price objective on W.R. Berkley from $62.00 to $66.00 and gave the company an "underweight" rating in a research note on Monday, July 7th. Morgan Stanley boosted their price target on W.R. Berkley from $63.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, UBS Group upped their target price on W.R. Berkley from $78.00 to $80.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, W.R. Berkley presently has an average rating of "Hold" and a consensus target price of $71.75.
Get Our Latest Stock Analysis on W.R. Berkley
W.R. Berkley Stock Performance
WRB remained flat at $68.54 during midday trading on Tuesday. The company's stock had a trading volume of 2,780,858 shares, compared to its average volume of 1,804,239. The firm has a fifty day simple moving average of $72.01 and a two-hundred day simple moving average of $66.98. W.R. Berkley has a 12-month low of $52.10 and a 12-month high of $76.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $26.00 billion, a PE ratio of 15.61, a P/E/G ratio of 2.51 and a beta of 0.41.
W.R. Berkley (NYSE:WRB - Get Free Report) last announced its earnings results on Monday, July 21st. The insurance provider reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. W.R. Berkley had a return on equity of 19.22% and a net margin of 12.32%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the business earned $1.04 EPS. Sell-side analysts expect that W.R. Berkley will post 4.33 earnings per share for the current year.
Hedge Funds Weigh In On W.R. Berkley
Several institutional investors have recently modified their holdings of WRB. Vanguard Group Inc. grew its position in shares of W.R. Berkley by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 36,436,473 shares of the insurance provider's stock worth $2,132,262,000 after buying an additional 529,294 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in W.R. Berkley by 0.6% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,787,639 shares of the insurance provider's stock valued at $838,808,000 after acquiring an additional 65,163 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of W.R. Berkley by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 7,694,703 shares of the insurance provider's stock valued at $449,168,000 after purchasing an additional 103,350 shares during the period. Principal Financial Group Inc. raised its holdings in W.R. Berkley by 21.8% in the first quarter. Principal Financial Group Inc. now owns 5,022,039 shares of the insurance provider's stock worth $357,368,000 after purchasing an additional 900,071 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in W.R. Berkley by 15.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 4,787,361 shares of the insurance provider's stock valued at $280,156,000 after acquiring an additional 632,578 shares during the period. 68.82% of the stock is currently owned by 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.
Recommended Stories
Before you consider W.R. Berkley, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and W.R. Berkley wasn't on the list.
While W.R. Berkley currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
