W. R. Berkley (NYSE:WRB) PT Lowered to $93.00

W. R. Berkley (NYSE:WRB) had its target price lowered by Truist Financial from $95.00 to $93.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the insurance provider’s stock.

Several other research analysts have also commented on the company. Royal Bank of Canada lifted their target price on W. R. Berkley from $73.00 to $79.00 and gave the stock a sector perform rating in a research report on Thursday, January 25th. The Goldman Sachs Group lifted their target price 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. Wells Fargo & Company lifted their target price on W. R. Berkley from $92.00 to $99.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. StockNews.com lowered W. R. Berkley from a buy rating to a hold rating in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods lifted their target price on W. R. Berkley from $85.00 to $88.00 and gave the stock a market perform rating in a research report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $90.63.

W. R. Berkley Trading Down 1.6 %

Shares of WRB opened at $76.65 on Wednesday. The company has a market capitalization of $19.66 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.47 and a beta of 0.57. W. R. Berkley has a one year low of $55.50 and a one year high of $89.18. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a 50-day moving average price of $84.26 and a 200 day moving average price of $76.31.

W. R. Berkley (NYSE:WRB) last issued its quarterly earnings results on Tuesday, April 23rd. The insurance provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. W. R. Berkley had a return on equity of 21.01% and a net margin of 12.23%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the prior year, the business posted $1.00 earnings per share. W. R. Berkley’s revenue for the quarter was up 11.0% on a year-over-year basis. Sell-side analysts forecast that W. R. Berkley will post 5.89 EPS for the current fiscal year.

W. R. Berkley Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, March 4th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Friday, March 1st. W. R. Berkley’s payout ratio is currently 7.80%.

Institutional Trading of W. R. Berkley

Several hedge funds have recently added to or reduced their stakes in WRB. Bruce G. Allen Investments LLC bought a new stake in shares of W. R. Berkley in the 4th quarter worth $25,000. Glassman Wealth Services raised its position in shares of W. R. Berkley by 123.1% during the fourth quarter. Glassman Wealth Services now owns 357 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 197 shares during the period. Parkside Financial Bank & Trust raised its position in shares of W. R. Berkley by 106.1% during the third quarter. Parkside Financial Bank & Trust now owns 406 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 209 shares during the period. Raleigh Capital Management Inc. raised its position in shares of W. R. Berkley by 132.6% during the third quarter. Raleigh Capital Management Inc. now owns 414 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 236 shares during the period. Finally, VisionPoint Advisory Group LLC acquired a new stake in W. R. Berkley during the 3rd quarter worth about $27,000. 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.