W. R. Berkley (NYSE:WRB) Cut to “Hold” at StockNews.com

W. R. Berkley (NYSE:WRB) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other equities analysts have also recently commented on WRB. The Goldman Sachs Group cut W. R. Berkley from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $88.00 to $83.00 in a report on Thursday, June 13th. TD Cowen began coverage on W. R. Berkley in a research note on Monday, July 1st. They set a “buy” rating and a $103.00 target price for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $57.00 price target on shares of W. R. Berkley in a research note on Tuesday, July 23rd. Wells Fargo & Company lowered their price objective on shares of W. R. Berkley from $62.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Finally, Truist Financial raised their target price on shares of W. R. Berkley from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $77.70.

W. R. Berkley Price Performance

WRB stock opened at $57.63 on Thursday. The company’s 50-day moving average price is $57.19 and its two-hundred day moving average price is $71.61. The firm has a market cap of $22.10 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.05 and a beta of 0.62. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.36. W. R. Berkley has a 12 month low of $41.37 and a 12 month high of $61.28.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.12. W. R. Berkley had a net margin of 12.05% and a return on equity of 21.34%. The business had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period last year, the firm posted $1.14 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, analysts anticipate that W. R. Berkley will post 4.03 earnings per share for the current fiscal year.

Institutional Trading of W. R. Berkley

Institutional investors have recently modified their holdings of the business. Sound Income Strategies LLC lifted its holdings in W. R. Berkley by 563.2% during the 1st quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider’s stock worth $40,000 after buying an additional 383 shares during the period. Intelligent Financial Strategies acquired a new position in shares of W. R. Berkley in the first quarter worth approximately $44,000. Quarry LP bought a new stake in W. R. Berkley in the second quarter valued at approximately $42,000. Covestor Ltd increased its position in W. R. Berkley by 173.0% during the 1st quarter. Covestor Ltd now owns 546 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 346 shares during the period. Finally, Kiely Wealth Advisory Group Inc. raised its holdings in W. R. Berkley by 49.9% during the 2nd quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 193 shares during the last quarter. Institutional investors own 68.82% of the company’s stock.

About W. R. Berkley

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.