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

Shares of W. R. Berkley Co. (NYSE:WRBGet Free Report) have been assigned an average recommendation of “Hold” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $88.88.

Several equities research analysts have commented on the stock. Wells Fargo & Company lowered their target price on shares of W. R. Berkley from $99.00 to $94.00 and set an “overweight” rating for the company in a research note on Wednesday, April 24th. Truist Financial cut their price target on shares of W. R. Berkley from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. The Goldman Sachs Group downgraded shares of W. R. Berkley from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $88.00 to $83.00 in a research note on Thursday. Royal Bank of Canada reduced their price target on shares of W. R. Berkley from $88.00 to $86.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 24th. Finally, StockNews.com upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th.

Check Out Our Latest Report on WRB

Hedge Funds Weigh In On W. R. Berkley

Large investors have recently bought and sold shares of the business. Bruce G. Allen Investments LLC purchased a new position in W. R. Berkley during the 4th quarter valued at $25,000. Glassman Wealth Services lifted its holdings in shares of W. R. Berkley by 123.1% in the 4th quarter. Glassman Wealth Services now owns 357 shares of the insurance provider’s stock worth $25,000 after buying an additional 197 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of W. R. Berkley by 106.1% in the 3rd quarter. Parkside Financial Bank & Trust now owns 406 shares of the insurance provider’s stock worth $26,000 after buying an additional 209 shares during the period. Raleigh Capital Management Inc. lifted its holdings in shares of W. R. Berkley by 132.6% in the 3rd quarter. Raleigh Capital Management Inc. now owns 414 shares of the insurance provider’s stock worth $26,000 after buying an additional 236 shares during the period. Finally, VisionPoint Advisory Group LLC purchased a new stake in shares of W. R. Berkley in the 3rd quarter worth $27,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.

W. R. Berkley Trading Up 0.1 %

Shares of WRB stock opened at $78.27 on Friday. W. R. Berkley has a 12-month low of $56.36 and a 12-month high of $89.18. The company has a market capitalization of $20.01 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.03 and a beta of 0.63. The firm has a 50-day moving average price of $79.89 and a 200 day moving average price of $79.09. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.36.

W. R. Berkley’s stock is set to split on the morning of Wednesday, July 10th. The 3-2 split was announced on Wednesday, June 12th. The newly created shares will be payable to shareholders after the market closes on Tuesday, July 9th.

W. R. Berkley (NYSE:WRBGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The insurance provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. W. R. Berkley had a net margin of 12.23% and a return on equity of 20.51%. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Research analysts forecast that W. R. Berkley will post 5.82 earnings per share for the current fiscal year.

W. R. Berkley Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 24th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, June 24th. This represents a $0.48 dividend on an annualized basis and a yield of 0.61%. This is a boost from W. R. Berkley’s previous quarterly dividend of $0.11. W. R. Berkley’s payout ratio is presently 7.80%.

About W. R. Berkley

(Get Free Report

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.

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

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