W. R. Berkley (NYSE:WRB) Downgraded to “Strong Sell” at ValuEngine

ValuEngine lowered shares of W. R. Berkley (NYSE:WRB) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday, ValuEngine reports.

A number of other research analysts also recently issued reports on WRB. Morgan Stanley boosted their price target on W. R. Berkley from $63.00 to $73.00 and gave the company an equal weight rating in a report on Wednesday, August 14th. Zacks Investment Research raised W. R. Berkley from a hold rating to a buy rating and set a $74.00 price target for the company in a research report on Saturday, October 19th. Finally, Buckingham Research increased their price objective on W. R. Berkley from $63.00 to $64.00 and gave the stock a neutral rating in a report on Thursday, September 12th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. W. R. Berkley presently has a consensus rating of Hold and an average price target of $65.63.

Shares of WRB stock opened at $68.02 on Tuesday. The business has a 50-day moving average of $69.09 and a 200 day moving average of $68.61. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.36 and a quick ratio of 0.36. W. R. Berkley has a 1-year low of $45.91 and a 1-year high of $77.54. The stock has a market capitalization of $12.49 billion, a PE ratio of 25.48, a P/E/G ratio of 2.48 and a beta of 0.65.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings results on Tuesday, October 22nd. The insurance provider reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.18. W. R. Berkley had a return on equity of 10.60% and a net margin of 8.82%. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm earned $0.84 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. Analysts anticipate that W. R. Berkley will post 3.05 EPS for the current year.

The business also recently declared a dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a $0.11 dividend. The ex-dividend date is Thursday, November 21st. W. R. Berkley’s dividend payout ratio is presently 16.48%.

A number of institutional investors have recently made changes to their positions in WRB. Millennium Management LLC lifted its holdings in shares of W. R. Berkley by 10.6% during the 3rd quarter. Millennium Management LLC now owns 799,888 shares of the insurance provider’s stock valued at $57,775,000 after buying an additional 76,573 shares during the period. Man Group plc increased its position in W. R. Berkley by 7.2% during the third quarter. Man Group plc now owns 156,297 shares of the insurance provider’s stock valued at $11,290,000 after acquiring an additional 10,533 shares during the last quarter. Squarepoint Ops LLC increased its position in W. R. Berkley by 1,083.5% during the third quarter. Squarepoint Ops LLC now owns 91,425 shares of the insurance provider’s stock valued at $6,604,000 after acquiring an additional 83,700 shares during the last quarter. Voloridge Investment Management LLC bought a new position in W. R. Berkley in the third quarter valued at about $2,235,000. Finally, GQ Asset Management LLC lifted its holdings in W. R. Berkley by 5.1% in the third quarter. GQ Asset Management LLC now owns 4,485 shares of the insurance provider’s stock valued at $324,000 after acquiring an additional 219 shares during the period. Institutional investors own 70.28% of the company’s stock.

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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