W.R. Berkley (NYSE:WRB) Receives Buy (B) Rating from Weiss Ratings

Key Points

• W.R. Berkley (NYSE:WRB) received a buy (B) rating from Weiss Ratings, with other firms giving a mix of ratings including a "strong-buy" from Cantor Fitzgerald and a lower rating from TD Cowen.
• The company reported earnings per share (EPS) of $1.05, exceeding analysts' expectations of $1.03, with a market cap of $29.53 billion.
• W.R. Berkley's stock price reached $77.86 following recent trading, with a 52-week range between $55.97 and $78.39.

W.R. Berkley (NYSE:WRB - Get Free Report)'s stock had its "buy (b)" rating reiterated by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other brokerages have also issued reports on WRB. Cantor Fitzgerald upgraded shares of W.R. Berkley to a "strong-buy" rating in a research report on Wednesday, August 13th. TD Cowen lowered shares of W.R. Berkley from a "buy" rating to a "hold" rating and set a $78.00 target price on the stock. in a research report on Friday, June 27th. Barclays reiterated an "underweight" rating and issued a $73.00 price target on shares of W.R. Berkley in a report on Wednesday. UBS Group set a $87.00 price target on shares of W.R. Berkley and gave the company a "buy" rating in a report on Wednesday. Finally, Wolfe Research initiated coverage on shares of W.R. Berkley in a report on Monday, September 15th. They set a "peer perform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, W.R. Berkley currently has an average rating of "Hold" and a consensus target price of $73.69.

W.R. Berkley Price Performance

Shares of WRB traded up $0.09 during mid-day trading on Wednesday, reaching $77.86. 639,835 shares of the company's stock were exchanged, compared to its average volume of 1,905,335. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.31. The company has a 50-day simple moving average of $72.54 and a two-hundred day simple moving average of $71.36. W.R. Berkley has a 52-week low of $55.97 and a 52-week high of $78.39. The company has a market cap of $29.53 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 2.66 and a beta of 0.42.

W.R. Berkley (NYSE:WRB - Get Free Report) last announced its earnings results on Monday, July 21st. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.02. W.R. Berkley had a net margin of 12.32% and a return on equity of 18.83%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the business earned $1.04 earnings per share. On average, sell-side analysts predict that W.R. Berkley will post 4.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Hilltop National Bank bought a new position in shares of W.R. Berkley during the 2nd quarter valued at $27,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of W.R. Berkley during the 2nd quarter worth about $27,000. Spectrum Wealth Counsel LLC bought a new position in shares of W.R. Berkley during the 1st quarter worth about $29,000. Garde Capital Inc. acquired a new stake in shares of W.R. Berkley during the 1st quarter valued at about $30,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of W.R. Berkley during the 2nd quarter valued at about $34,000. Institutional investors own 68.82% of the company's stock.

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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