Truist Financial Lowers W. R. Berkley (NYSE:WRB) Price Target to $93.00

W. R. Berkley (NYSE:WRB) had its price target cut by analysts at Truist Financial from $95.00 to $93.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Truist Financial’s price objective points to a potential upside of 18.70% from the stock’s current price.

A number of other brokerages also recently issued reports on WRB. Royal Bank of Canada boosted their price objective on shares of W. R. Berkley from $73.00 to $79.00 and gave the company a “sector perform” rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods boosted their price objective on shares of W. R. Berkley from $85.00 to $88.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Wells Fargo & Company upped their target price on shares of W. R. Berkley from $92.00 to $99.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. UBS Group upped their target price on shares of W. R. Berkley from $81.00 to $93.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Finally, StockNews.com downgraded shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $89.63.

W. R. Berkley Price Performance

Shares of NYSE:WRB opened at $78.35 on Wednesday. The company has a 50 day moving average of $84.55 and a 200 day moving average of $76.20. The stock has a market cap of $20.10 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.56 and a beta of 0.57. W. R. Berkley has a 12 month low of $55.50 and a 12 month high of $89.18. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38.

W. R. Berkley (NYSE:WRB) last announced its earnings results on Tuesday, April 23rd. The insurance provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.10. W. R. Berkley had a net margin of 11.38% and a return on equity of 19.03%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the business posted $1.00 earnings per share. W. R. Berkley’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, sell-side analysts forecast that W. R. Berkley will post 5.94 EPS for the current fiscal year.

Hedge Funds Weigh In On W. R. Berkley

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ING Groep NV lifted its stake in W. R. Berkley by 1.7% during the 4th quarter. ING Groep NV now owns 7,669 shares of the insurance provider’s stock valued at $542,000 after acquiring an additional 128 shares during the period. Wedmont Private Capital lifted its stake in shares of W. R. Berkley by 3.0% in the 1st quarter. Wedmont Private Capital now owns 4,768 shares of the insurance provider’s stock worth $399,000 after purchasing an additional 137 shares during the period. West Paces Advisors Inc. lifted its stake in shares of W. R. Berkley by 12.7% in the 1st 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 period. Quadrant Capital Group LLC lifted its stake in shares of W. R. Berkley by 6.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,250 shares of the insurance provider’s stock worth $159,000 after purchasing an additional 144 shares during the period. Finally, Ballentine Partners LLC lifted its stake in shares of W. R. Berkley by 1.6% in the 4th quarter. Ballentine Partners LLC now owns 9,180 shares of the insurance provider’s stock worth $649,000 after purchasing an additional 147 shares during the period. 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.