W. R. Berkley (NYSE:WRB) Stock Rating Lowered by 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 report issued to clients and investors on Thursday.

A number of other research analysts also recently weighed in on the company. UBS Group upped their target price on W. R. Berkley from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods reduced 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, October 22nd. Bank of America raised their price objective on W. R. Berkley from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Evercore ISI upped their target price on shares of W. R. Berkley from $57.00 to $60.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial lifted their price target on shares of W. R. Berkley from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $63.08.

W. R. Berkley Stock Up 0.2 %

Shares of NYSE:WRB opened at $62.27 on Thursday. The stock’s 50-day moving average is $58.69 and its 200 day moving average is $56.40. The company has a market cap of $23.73 billion, a PE ratio of 15.92, a P/E/G ratio of 1.19 and a beta of 0.62. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.36 and a quick ratio of 0.36. W. R. Berkley has a 1 year low of $45.75 and a 1 year high of $62.54.

W. R. Berkley (NYSE:WRB) last announced its earnings results on Monday, October 21st. The insurance provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.93 billion. W. R. Berkley had a return on equity of 20.41% and a net margin of 11.96%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. Sell-side analysts anticipate that W. R. Berkley will post 3.96 EPS for the current year.

Institutional Investors Weigh In On W. R. Berkley

Several institutional investors have recently modified their holdings of WRB. Armstrong Advisory Group Inc. lifted its holdings in shares of W. R. Berkley by 51.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider’s stock valued at $35,000 after buying an additional 209 shares during the period. PFS Partners LLC increased its position in W. R. Berkley by 51.1% during the third quarter. PFS Partners LLC now owns 719 shares of the insurance provider’s stock valued at $41,000 after acquiring an additional 243 shares during the last quarter. Quarry LP bought a new position in W. R. Berkley in the second quarter valued at about $42,000. Creative Financial Designs Inc. ADV boosted its position in W. R. Berkley by 108.1% in the third quarter. Creative Financial Designs Inc. ADV now owns 801 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 416 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. grew its stake in shares of 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 valued at $46,000 after purchasing an additional 193 shares during the period. 68.82% of the stock is 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 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.