W. R. Berkley (NYSE:WRB) Price Target Increased to $68.00 by Analysts at Wells Fargo & Company

W. R. Berkley (NYSE:WRB) had its target price boosted by research analysts at Wells Fargo & Company from $63.00 to $68.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 15.80% from the company’s previous close.

WRB has been the topic of a number of other reports. Truist Financial increased their price objective on shares of W. R. Berkley from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Jefferies Financial Group lifted their price objective on shares of W. R. Berkley from $53.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada lifted their price objective on shares of W. R. Berkley from $57.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday. Keefe, Bruyette & Woods lowered their target price on shares of W. R. Berkley from $59.00 to $58.00 and set a “market perform” rating on the stock in a research note on Tuesday. Finally, StockNews.com cut shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $62.83.

W. R. Berkley Trading Down 3.8 %

Shares of W. R. Berkley stock traded down $2.31 during trading hours on Tuesday, hitting $58.72. The company’s stock had a trading volume of 768,486 shares, compared to its average volume of 1,795,053. The business has a fifty day moving average of $58.24 and a 200 day moving average of $55.55. The company has a market capitalization of $22.52 billion, a PE ratio of 15.62, a P/E/G ratio of 1.07 and a beta of 0.62. W. R. Berkley has a 1-year low of $41.82 and a 1-year high of $61.96. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.36.

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

Institutional Trading of W. R. Berkley

Institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new stake in shares of W. R. Berkley during the second quarter worth approximately $4,801,000. Prudential PLC raised its position in shares of W. R. Berkley by 205.9% in the second quarter. Prudential PLC now owns 68,526 shares of the insurance provider’s stock valued at $5,385,000 after purchasing an additional 46,125 shares during the period. Stoneridge Investment Partners LLC bought a new position in W. R. Berkley during the second quarter worth $3,245,000. CHB Investment Group LLC bought a new position in W. R. Berkley during the third quarter worth $2,880,000. Finally, ProShare Advisors LLC increased its position in W. R. Berkley by 25.6% during the second quarter. ProShare Advisors LLC now owns 49,310 shares of the insurance provider’s stock worth $3,875,000 after acquiring an additional 10,053 shares during the period. 68.82% of the stock is currently owned by institutional investors and hedge funds.

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.