W. R. Berkley (NYSE:WRB) Earns “Sector Perform” Rating from Royal Bank of Canada

W. R. Berkley (NYSE:WRB)‘s stock had its “sector perform” rating reissued by analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They presently have a $63.00 price objective on the insurance provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 7.35% from the stock’s current price.

Several other research analysts have also issued reports on WRB. Truist Financial upped their target price on W. R. Berkley from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their price objective on shares of W. R. Berkley from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday. Evercore ISI lifted their price target 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, October 22nd. StockNews.com cut W. R. Berkley from a “buy” rating to a “hold” rating in a report on Thursday, January 16th. Finally, Morgan Stanley started coverage on W. R. Berkley in a report on Thursday, December 5th. They set an “equal weight” rating and a $65.00 target price for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $64.36.

W. R. Berkley Trading Down 1.1 %

WRB opened at $58.69 on Tuesday. W. R. Berkley has a one year low of $50.73 and a one year high of $65.49. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market cap of $22.36 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 1.04 and a beta of 0.67. The stock’s 50 day moving average price is $60.05 and its 200-day moving average price is $58.48.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Monday, January 27th. The insurance provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.18. W. R. Berkley had a net margin of 11.96% and a return on equity of 20.41%. On average, equities analysts forecast that W. R. Berkley will post 3.95 EPS for the current year.

Hedge Funds Weigh In On W. R. Berkley

A number of hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new position in W. R. Berkley during the 2nd quarter valued at about $2,330,000. MBB Public Markets I LLC purchased a new stake in shares of W. R. Berkley during the 2nd quarter worth $1,157,000. Creative Planning increased its holdings in shares of W. R. Berkley by 3.3% in the 2nd quarter. Creative Planning now owns 46,434 shares of the insurance provider’s stock valued at $3,649,000 after acquiring an additional 1,471 shares during the last quarter. Quarry LP acquired a new stake in W. R. Berkley during the second quarter worth approximately $42,000. Finally, Truist Financial Corp lifted its position in W. R. Berkley by 3.4% in the second quarter. Truist Financial Corp now owns 811,844 shares of the insurance provider’s stock valued at $63,795,000 after acquiring an additional 26,738 shares during the last quarter. Hedge funds and other institutional investors own 68.82% of the company’s stock.

W. R. Berkley Company Profile

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.