W. R. Berkley (NYSE:WRB) Price Target Raised to $64.00 at Buckingham Research

W. R. Berkley (NYSE:WRB) had its target price increased by Buckingham Research from $63.00 to $64.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the insurance provider’s stock.

Several other research analysts also recently commented on WRB. Zacks Investment Research upgraded W. R. Berkley from a hold rating to a buy rating and set a $71.00 price objective on the stock in a report on Saturday, July 27th. Morgan Stanley lifted their price objective on W. R. Berkley from $63.00 to $73.00 and gave the stock an equal weight rating in a report on Wednesday, August 14th. Royal Bank of Canada lifted their price objective on W. R. Berkley to $68.00 and gave the stock a sector perform rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Finally, Deutsche Bank downgraded W. R. Berkley from a hold rating to a sell rating and set a $65.71 price objective on the stock. in a report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $65.20.

Shares of WRB traded down $0.29 during trading hours on Thursday, hitting $70.97. The company had a trading volume of 16,749 shares, compared to its average volume of 601,575. The firm has a market cap of $12.97 billion, a P/E ratio of 26.51, a P/E/G ratio of 2.75 and a beta of 0.69. The stock’s 50 day moving average price is $71.08 and its 200 day moving average price is $69.00. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.46. W. R. Berkley has a 52-week low of $45.91 and a 52-week high of $73.26.



W. R. Berkley (NYSE:WRB) last released its quarterly earnings data on Tuesday, July 23rd. The insurance provider reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.18. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. W. R. Berkley had a return on equity of 10.55% and a net margin of 8.81%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 earnings per share. On average, research analysts expect that W. R. Berkley will post 2.86 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 19th will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, September 18th. This represents a $0.44 dividend on an annualized basis and a yield of 0.62%. W. R. Berkley’s dividend payout ratio is presently 16.48%.

In related news, Director Mark Ellwood Brockbank sold 77,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $66.61, for a total transaction of $5,128,970.00. Following the transaction, the director now owns 51,329 shares in the company, valued at approximately $3,419,024.69. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 21.70% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC purchased a new position in W. R. Berkley during the 2nd quarter valued at about $27,000. Jaffetilchin Investment Partners LLC purchased a new position in shares of W. R. Berkley during the 1st quarter worth approximately $756,000. Charles Schwab Investment Management Inc. grew its holdings in shares of W. R. Berkley by 54.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 700,734 shares of the insurance provider’s stock worth $46,200,000 after acquiring an additional 246,417 shares during the period. CIBC Asset Management Inc grew its holdings in shares of W. R. Berkley by 237.1% during the 2nd quarter. CIBC Asset Management Inc now owns 150,008 shares of the insurance provider’s stock worth $9,890,000 after acquiring an additional 105,510 shares during the period. Finally, Commonwealth Bank of Australia grew its holdings in shares of W. R. Berkley by 2.2% during the 1st quarter. Commonwealth Bank of Australia now owns 18,852 shares of the insurance provider’s stock worth $1,593,000 after acquiring an additional 400 shares during the period. Institutional investors own 70.69% of the company’s stock.

About W. R. Berkley

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.

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Analyst Recommendations for W. R. Berkley (NYSE:WRB)

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