W. R. Berkley Corp (NYSE:WRB) Receives Consensus Rating of “Hold” from Analysts

W. R. Berkley Corp (NYSE:WRB) has been assigned an average rating of “Hold” from the nine research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $65.63.

Several research analysts have recently weighed in on the stock. Deutsche Bank downgraded shares of W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 target price on the stock. in a research report on Wednesday, June 26th. Buckingham Research lifted their target price on shares of W. R. Berkley from $63.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Royal Bank of Canada lifted their target price on shares of W. R. Berkley to $68.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. ValuEngine downgraded shares of W. R. Berkley from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Saturday.

Shares of WRB traded down $0.25 during mid-day trading on Monday, hitting $70.91. The company’s stock had a trading volume of 443,500 shares, compared to its average volume of 551,493. The firm has a 50-day moving average price of $71.52 and a 200 day moving average price of $66.64. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 2.76 and a beta of 0.68. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.48 and a quick ratio of 0.48. W. R. Berkley has a fifty-two week low of $45.91 and a fifty-two week high of $73.26.

W. R. Berkley (NYSE:WRB) last released its earnings results on Tuesday, July 23rd. The insurance provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.18. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. W. R. Berkley had a net margin of 8.81% and a return on equity of 10.55%. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $1.40 earnings per share. As a group, equities analysts anticipate that W. R. Berkley will post 2.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 19th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Wednesday, September 18th. W. R. Berkley’s payout ratio is presently 16.48%.

A number of institutional investors and hedge funds have recently made changes to their positions in WRB. Kayne Anderson Rudnick Investment Management LLC lifted its stake in W. R. Berkley by 5.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 805,551 shares of the insurance provider’s stock valued at $68,247,000 after acquiring an additional 43,292 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in W. R. Berkley by 3.0% in the first quarter. Belpointe Asset Management LLC now owns 18,359 shares of the insurance provider’s stock valued at $1,555,000 after acquiring an additional 534 shares during the last quarter. Princeton Global Asset Management LLC lifted its stake in W. R. Berkley by 28.6% in the first quarter. Princeton Global Asset Management LLC now owns 3,150 shares of the insurance provider’s stock valued at $266,000 after acquiring an additional 700 shares during the last quarter. Advisory Services Network LLC lifted its stake in W. R. Berkley by 8.7% in the first quarter. Advisory Services Network LLC now owns 4,319 shares of the insurance provider’s stock valued at $365,000 after acquiring an additional 345 shares during the last quarter. Finally, B. Riley Wealth Management Inc. acquired a new stake in W. R. Berkley in the first quarter valued at approximately $383,000. 70.69% of the stock is currently owned by hedge funds and other institutional investors.

About W. R. Berkley

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.

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Analyst Recommendations for W. R. Berkley (NYSE:WRB)

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