W. R. Berkley (NYSE:WRB) PT Raised to $76.00 at Bank of America

W. R. Berkley (NYSE:WRB) had its target price upped by equities research analysts at Bank of America from $73.00 to $76.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the insurance provider’s stock. Bank of America‘s target price suggests a potential upside of 28.53% from the company’s previous close.

A number of other research analysts have also commented on the company. Jefferies Financial Group upped their target price on W. R. Berkley from $53.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. TD Cowen initiated coverage on shares of W. R. Berkley in a research note on Monday, July 1st. They issued a “buy” rating and a $68.67 price objective for the company. Evercore ISI upped their target price on shares of W. R. Berkley from $57.00 to $60.00 and gave the company an “in-line” rating in a research note on Tuesday. StockNews.com lowered shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods decreased their price target on W. R. Berkley from $59.00 to $58.00 and set a “market perform” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, W. R. Berkley has an average rating of “Hold” and a consensus target price of $63.08.

W. R. Berkley Price Performance

NYSE:WRB opened at $59.13 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.38 and a quick ratio of 0.38. W. R. Berkley has a one year low of $43.20 and a one year high of $61.96. The company has a fifty day moving average price of $58.32 and a 200 day moving average price of $55.57. The stock has a market cap of $22.68 billion, a P/E ratio of 15.73, a PEG ratio of 1.07 and a beta of 0.62.

W. R. Berkley (NYSE:WRB) last released its earnings results on Monday, October 21st. The insurance provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.93 billion. W. R. Berkley had a return on equity of 21.34% and a net margin of 12.05%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $0.90 earnings per share. Analysts anticipate that W. R. Berkley will post 4.02 earnings per share for the current year.

Institutional Investors Weigh In On W. R. Berkley

Several institutional investors have recently bought and sold shares of WRB. AdvisorNet Financial Inc grew its stake in shares of W. R. Berkley by 15.9% during the 1st quarter. AdvisorNet Financial Inc now owns 1,436 shares of the insurance provider’s stock worth $127,000 after acquiring an additional 197 shares in the last quarter. West Paces Advisors Inc. boosted its holdings in W. R. Berkley by 12.7% during the first quarter. West Paces Advisors Inc. now owns 1,228 shares of the insurance provider’s stock worth $109,000 after purchasing an additional 138 shares during the last quarter. Sound Income Strategies LLC grew its position in W. R. Berkley by 563.2% in the first quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 383 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in W. R. Berkley by 6.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,464 shares of the insurance provider’s stock valued at $660,000 after buying an additional 429 shares during the last quarter. Finally, Thrive Wealth Management LLC lifted its position in W. R. Berkley by 6.4% during the 1st quarter. Thrive Wealth Management LLC now owns 3,378 shares of the insurance provider’s stock worth $299,000 after buying an additional 204 shares in 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.