W.R. Berkley's (WRB) Buy (B) Rating Reaffirmed at Weiss Ratings

Key Points

• W.R. Berkley's stock received a "buy" rating from Weiss Ratings, reaffirming investor confidence in the company's performance.
• The company reported $1.10 earnings per share, exceeding the consensus estimate, with quarterly revenue rising by 10.8% compared to the previous year.
• Analysts have mixed ratings on the stock, with four rating it a buy, nine as a hold, and two as a sell, as it currently trades at around $75.34.

W.R. Berkley (NYSE:WRB - Get Free Report)'s stock had its "buy (b)" rating restated by research analysts at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

Other equities research analysts have also recently issued reports about the company. UBS Group set a $87.00 target price on W.R. Berkley and gave the company a "buy" rating in a report on Wednesday, October 8th. Wells Fargo & Company set a $66.00 price objective on W.R. Berkley and gave the stock an "equal weight" rating in a report on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating on shares of W.R. Berkley in a report on Tuesday. Jefferies Financial Group dropped their price objective on W.R. Berkley from $76.00 to $75.00 and set a "hold" rating for the company in a report on Tuesday. Finally, Barclays reiterated an "underweight" rating and issued a $73.00 price objective on shares of W.R. Berkley in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $74.77.

W.R. Berkley Trading Up 0.1%

WRB stock traded up $0.10 during trading on Friday, hitting $75.34. 760,922 shares of the company traded hands, compared to its average volume of 1,973,802. The firm has a market capitalization of $28.57 billion, a PE ratio of 15.82, a P/E/G ratio of 2.88 and a beta of 0.42. W.R. Berkley has a 1 year low of $55.97 and a 1 year high of $78.48. The company has a 50-day moving average of $73.93 and a 200-day moving average of $72.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.37.

W.R. Berkley (NYSE:WRB - Get Free Report) last issued its earnings results on Monday, October 20th. The insurance provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.03. The company had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.16 billion. W.R. Berkley had a return on equity of 19.35% and a net margin of 13.01%.W.R. Berkley's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.93 EPS. Analysts predict that W.R. Berkley will post 4.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hilltop National Bank bought a new position in shares of W.R. Berkley in the 2nd quarter worth approximately $27,000. Twin Peaks Wealth Advisors LLC bought a new position in W.R. Berkley during the 2nd quarter valued at approximately $27,000. Spectrum Wealth Counsel LLC bought a new position in W.R. Berkley during the 1st quarter valued at approximately $29,000. Elevation Point Wealth Partners LLC bought a new position in W.R. Berkley during the 2nd quarter valued at approximately $34,000. Finally, N.E.W. Advisory Services LLC bought a new position in W.R. Berkley during the 1st quarter valued at approximately $36,000. 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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