W. R. Berkley (NYSE:WRB) Upgraded by StockNews.com to Buy Rating

W. R. Berkley (NYSE:WRB) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other equities research analysts have also weighed in on the stock. Bank of America boosted their price objective on shares of W. R. Berkley from $73.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Truist Financial increased their price objective on W. R. Berkley from $64.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Wells Fargo & Company raised their price objective on W. R. Berkley from $63.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Evercore ISI upped their target price on W. R. Berkley from $57.00 to $60.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Finally, Barclays started coverage on shares of W. R. Berkley in a research report on Wednesday, September 4th. They set an “underweight” rating and a $56.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.08.

W. R. Berkley Stock Down 0.0 %

NYSE:WRB traded down $0.02 during mid-day trading on Tuesday, hitting $60.40. 1,055,200 shares of the company’s stock traded hands, compared to its average volume of 1,788,041. The company has a fifty day moving average of $58.42 and a 200 day moving average of $55.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.38 and a current ratio of 0.36. W. R. Berkley has a twelve month low of $45.30 and a twelve month high of $61.96. The company has a market capitalization of $23.02 billion, a P/E ratio of 15.47, a P/E/G ratio of 1.20 and a beta of 0.62.

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

Institutional Investors Weigh In On W. R. Berkley

Institutional investors have recently modified their holdings of the business. Quarry LP purchased a new position in W. R. Berkley during the second quarter worth approximately $42,000. Covestor Ltd lifted its position in shares of W. R. Berkley by 173.0% during the 1st quarter. Covestor Ltd now owns 546 shares of the insurance provider’s stock valued at $48,000 after buying an additional 346 shares in the last quarter. Kiely Wealth Advisory Group Inc. grew its stake in W. R. Berkley by 49.9% in the 2nd quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock valued at $46,000 after acquiring an additional 193 shares during the period. Armstrong Advisory Group Inc. increased its holdings in W. R. Berkley by 51.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 209 shares in the last quarter. Finally, PFS Partners LLC lifted its holdings 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 purchasing an additional 243 shares in the last quarter. 68.82% of the stock is currently owned by institutional investors and hedge funds.

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.