W. R. Berkley (NYSE:WRB) Price Target Cut to $94.00

W. R. Berkley (NYSE:WRB) had its price objective cut by equities researchers at Wells Fargo & Company from $99.00 to $94.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 19.90% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Evercore ISI increased their price target on shares of W. R. Berkley from $83.00 to $89.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Truist Financial cut their price target on shares of W. R. Berkley from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods raised their target price on shares of W. R. Berkley from $85.00 to $88.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. StockNews.com cut shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group lifted their price target on shares of W. R. Berkley from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, W. R. Berkley presently has a consensus rating of “Hold” and an average price target of $89.00.

W. R. Berkley Trading Down 0.9 %

Shares of W. R. Berkley stock traded down $0.68 during trading on Wednesday, reaching $78.40. 1,057,266 shares of the stock were exchanged, compared to its average volume of 1,235,921. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average is $84.55 and its 200 day moving average is $76.20. The firm has a market cap of $20.11 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.56 and a beta of 0.57. W. R. Berkley has a 1 year low of $55.50 and a 1 year high of $89.18.

W. R. Berkley (NYSE:WRB) last released its quarterly earnings results on Tuesday, April 23rd. The insurance provider reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. W. R. Berkley had a net margin of 11.38% and a return on equity of 19.03%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the firm earned $1.00 earnings per share. W. R. Berkley’s revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts expect that W. R. Berkley will post 5.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of W. R. Berkley in the fourth quarter valued at about $213,635,000. Confluence Investment Management LLC acquired a new position in W. R. Berkley during the 1st quarter worth approximately $82,706,000. The Manufacturers Life Insurance Company lifted its position in shares of W. R. Berkley by 89.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,904,555 shares of the insurance provider’s stock worth $134,690,000 after buying an additional 898,027 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in W. R. Berkley by 612.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,006,528 shares of the insurance provider’s stock valued at $63,904,000 after purchasing an additional 865,205 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in W. R. Berkley by 213.9% in the 3rd quarter. California Public Employees Retirement System now owns 1,147,961 shares of the insurance provider’s stock valued at $72,884,000 after purchasing an additional 782,280 shares during the last quarter. Institutional investors and hedge funds own 68.82% of the company’s stock.

About W. R. Berkley

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.