Brokerages Set W. R. Berkley Co. (NYSE:WRB) PT at $89.22

W. R. Berkley Co. (NYSE:WRB) has earned an average rating of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $90.63.

A number of research analysts have issued reports on the stock. The Goldman Sachs Group increased their target price on shares of W. R. Berkley from $86.00 to $95.00 and gave the company a “buy” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods lifted their price objective on W. R. Berkley from $85.00 to $88.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Wells Fargo & Company lowered their target price on W. R. Berkley from $99.00 to $94.00 and set an “overweight” rating on the stock in a report on Wednesday. UBS Group lifted their price target on W. R. Berkley from $81.00 to $93.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Finally, StockNews.com raised shares of W. R. Berkley from a “hold” rating to a “buy” rating in a research note on Thursday.

Institutional Investors Weigh In On W. R. Berkley

Several hedge funds have recently modified their holdings of WRB. Bruce G. Allen Investments LLC acquired a new stake in W. R. Berkley during the fourth quarter worth approximately $25,000. Glassman Wealth Services lifted its stake in shares of W. R. Berkley by 123.1% during the 4th quarter. Glassman Wealth Services now owns 357 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 197 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of W. R. Berkley by 106.1% during the third quarter. Parkside Financial Bank & Trust now owns 406 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 209 shares during the last quarter. Raleigh Capital Management Inc. grew its position in shares of W. R. Berkley by 132.6% in the third quarter. Raleigh Capital Management Inc. now owns 414 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 236 shares during the period. Finally, VisionPoint Advisory Group LLC acquired a new position in W. R. Berkley in the third quarter valued at $27,000. 68.82% of the stock is owned by institutional investors and hedge funds.

W. R. Berkley Stock Down 1.6 %

W. R. Berkley stock opened at $76.65 on Friday. The stock’s 50 day moving average price is $84.26 and its 200 day moving average price is $76.31. The company has a market cap of $19.66 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.47 and a beta of 0.57. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.37 and a quick ratio of 0.37. W. R. Berkley has a 1-year low of $55.50 and a 1-year high of $89.18.

W. R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Tuesday, April 23rd. The insurance provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. W. R. Berkley had a net margin of 12.23% and a return on equity of 21.01%. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the company posted $1.00 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side analysts predict that W. R. Berkley will post 5.89 EPS for the current fiscal year.

W. R. Berkley Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, March 4th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.57%. The ex-dividend date was Friday, March 1st. W. R. Berkley’s payout ratio is 7.80%.

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.