W.R. Berkley (NYSE:WRB) Stock Price Expected to Rise, Mizuho Analyst Says

W.R. Berkley (NYSE:WRB) had its target price increased by equities researchers at Mizuho from $68.00 to $72.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Mizuho’s price target would suggest a potential upside of 1.46% from the company’s current price.

WRB has been the subject of a number of other research reports. Brean Capital cut W.R. Berkley from a “buy” rating to a “neutral” rating and set a $73.00 price target for the company. in a report on Wednesday, March 25th. Truist Financial reduced their target price on W.R. Berkley from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Wells Fargo & Company lowered W.R. Berkley from an “overweight” rating to an “underweight” rating and decreased their target price for the stock from $64.00 to $58.00 in a report on Monday, June 8th. Bank of America dropped their price target on W.R. Berkley from $68.00 to $67.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Finally, Morgan Stanley lifted their price objective on shares of W.R. Berkley from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, W.R. Berkley presently has an average rating of “Reduce” and a consensus price target of $69.00.

W.R. Berkley Stock Down 0.4%

W.R. Berkley stock opened at $70.97 on Thursday. The company has a fifty day simple moving average of $67.78 and a 200 day simple moving average of $68.26. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.29. W.R. Berkley has a 1-year low of $62.87 and a 1-year high of $78.96. The company has a market cap of $26.42 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 3.38 and a beta of 0.29.

W.R. Berkley (NYSE:WRB) last released its earnings results on Tuesday, April 21st. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.17. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.18 billion. W.R. Berkley had a return on equity of 18.92% and a net margin of 12.64%.W.R. Berkley’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 earnings per share. Research analysts anticipate that W.R. Berkley will post 4.67 earnings per share for the current fiscal year.

Institutional Trading of W.R. Berkley

A number of institutional investors have recently modified their holdings of WRB. Entrust Financial LLC acquired a new position in W.R. Berkley in the fourth quarter valued at about $25,000. Hazlett Burt & Watson Inc. grew its stake in W.R. Berkley by 140.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock worth $26,000 after buying an additional 210 shares in the last quarter. DV Equities LLC bought a new position in W.R. Berkley in the 4th quarter valued at about $29,000. Triumph Capital Management acquired a new position in shares of W.R. Berkley in the 3rd quarter valued at approximately $35,000. Finally, Quarry LP bought a new stake in shares of W.R. Berkley during the 4th quarter worth approximately $39,000. 68.82% of the stock is currently owned by institutional investors.

About W.R. Berkley

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.