W.R. Berkley (NYSE:WRB) Hits New 12-Month High - Here's Why

Key Points

• W.R. Berkley Corporation's stock reached a new 52-week high of $77.58, closing at $77.20 with a volume of 96,854 shares traded.
• Analysts have varied opinions on the company's stock, with price targets ranging from $68.00 to $80.00, and an average price target of $72.54.
• The company recently declared a quarterly dividend of $0.09 per share, with an annualized dividend yield of 0.5% and a low payout ratio of 8.20%.

W.R. Berkley Corporation (NYSE:WRB - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as $77.58 and last traded at $77.20, with a volume of 96854 shares trading hands. The stock had previously closed at $76.86.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company cut their price objective on W.R. Berkley from $71.00 to $68.00 and set an "equal weight" rating for the company in a report on Tuesday, July 22nd. UBS Group increased their target price on shares of W.R. Berkley from $78.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Cantor Fitzgerald upgraded shares of W.R. Berkley to a "strong-buy" rating in a research report on Wednesday, August 13th. Wolfe Research assumed coverage on shares of W.R. Berkley in a research note on Monday, September 15th. They set a "peer perform" rating on the stock. Finally, TD Cowen cut shares of W.R. Berkley from a "buy" rating to a "hold" rating and set a $78.00 target price for the company. in a research note on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $72.54.

W.R. Berkley Stock Up 0.3%

The firm's 50-day moving average is $72.18 and its two-hundred day moving average is $71.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market cap of $29.23 billion, a P/E ratio of 17.55, a PEG ratio of 2.66 and a beta of 0.42.

W.R. Berkley (NYSE:WRB - Get Free Report) last released its earnings results on Monday, July 21st. The insurance provider reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.02. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.10 billion. W.R. Berkley had a return on equity of 18.83% and a net margin of 12.32%.During the same quarter in the previous year, the company posted $1.04 earnings per share. On average, equities research analysts anticipate that W.R. Berkley Corporation will post 4.33 earnings per share for the current year.

W.R. Berkley Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a dividend of $0.09 per share. The ex-dividend date was Monday, September 22nd. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. W.R. Berkley's payout ratio is currently 8.20%.

Hedge Funds Weigh In On W.R. Berkley

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of W.R. Berkley in the 2nd quarter valued at $367,921,000. Balyasny Asset Management L.P. lifted its stake in W.R. Berkley by 6,503.1% in the second quarter. Balyasny Asset Management L.P. now owns 2,561,230 shares of the insurance provider's stock valued at $188,174,000 after buying an additional 2,601,230 shares during the period. Principal Financial Group Inc. boosted its holdings in W.R. Berkley by 21.8% during the first quarter. Principal Financial Group Inc. now owns 5,022,039 shares of the insurance provider's stock worth $357,368,000 after buying an additional 900,071 shares during the last quarter. Woodline Partners LP grew its position in shares of W.R. Berkley by 4,198.9% during the 1st quarter. Woodline Partners LP now owns 777,201 shares of the insurance provider's stock worth $55,306,000 after buying an additional 759,122 shares during the period. Finally, Cornerstone Investment Partners LLC increased its stake in shares of W.R. Berkley by 7,314.0% in the 1st quarter. Cornerstone Investment Partners LLC now owns 744,516 shares of the insurance provider's stock valued at $52,980,000 after acquiring an additional 734,474 shares during the last quarter. 68.82% of the stock is owned by 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.

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