W. R. Berkley (NYSE:WRB) PT Lowered to $87.00 at BMO Capital Markets

W. R. Berkley (NYSE:WRB) had its target price cut by analysts at BMO Capital Markets from $93.00 to $87.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the insurance provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 11.34% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. UBS Group boosted their price target on shares of W. R. Berkley from $81.00 to $93.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Evercore ISI boosted their target price on W. R. Berkley from $83.00 to $89.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. The Goldman Sachs Group raised their price target on W. R. Berkley from $86.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. 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. Finally, StockNews.com downgraded shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $89.75.

W. R. Berkley Price Performance

NYSE:WRB traded down $0.94 on Wednesday, reaching $78.14. 1,174,144 shares of the company’s stock traded hands, compared to its average volume of 1,237,241. The firm has a market cap of $20.05 billion, a PE ratio of 15.44, a P/E/G ratio of 1.56 and a beta of 0.57. 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 has a 50-day simple moving average of $84.55 and a 200-day simple moving average of $76.20. W. R. Berkley has a 12 month low of $55.50 and a 12 month high of $89.18.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. EULAV Asset Management raised its stake in W. R. Berkley by 4.4% in the third quarter. EULAV Asset Management now owns 945,260 shares of the insurance provider’s stock valued at $60,015,000 after buying an additional 39,716 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of W. R. Berkley during the fourth quarter worth about $8,970,000. NatWest Group plc acquired a new position in shares of W. R. Berkley during the fourth quarter worth $8,791,000. Financial Strategies Group Inc. increased its holdings in W. R. Berkley by 29.6% in the fourth quarter. Financial Strategies Group Inc. now owns 53,112 shares of the insurance provider’s stock valued at $4,126,000 after buying an additional 12,140 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in W. R. Berkley by 11.7% during the 4th quarter. Cerity Partners LLC now owns 185,251 shares of the insurance provider’s stock worth $13,101,000 after buying an additional 19,408 shares during the last quarter. Hedge funds and other institutional investors 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.