W. R. Berkley (NYSE:WRB) Price Target Cut to $93.00

W. R. Berkley (NYSE:WRB) had its price objective decreased by Truist Financial from $95.00 to $93.00 in a research report released on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the insurance provider’s stock.

WRB has been the subject of several other reports. The Goldman Sachs Group raised their price objective on W. R. Berkley from $86.00 to $95.00 and gave the stock a buy rating in a research note on Friday, April 12th. Royal Bank of Canada increased their target price on W. R. Berkley from $73.00 to $79.00 and gave the company a sector perform rating in a report on Thursday, January 25th. Evercore ISI increased their target price on W. R. Berkley from $83.00 to $89.00 and gave the company an in-line rating in a report on Thursday, April 11th. Wells Fargo & Company increased their target price on W. R. Berkley from $92.00 to $99.00 and gave the company an overweight rating in a report on Thursday, April 11th. Finally, BMO Capital Markets increased their target price on W. R. Berkley from $71.00 to $81.00 and gave the company a market perform rating in a report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $90.63.

W. R. Berkley Stock Performance

WRB opened at $77.85 on Wednesday. The firm has a market cap of $19.97 billion, a PE ratio of 15.39, a P/E/G ratio of 1.56 and a beta of 0.57. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $84.47 and a 200-day simple moving average of $76.21. W. R. Berkley has a fifty-two week low of $55.50 and a fifty-two week high of $89.18.

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

W. R. Berkley Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, March 4th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, March 1st. This represents a $0.44 annualized dividend and a dividend yield of 0.57%. W. R. Berkley’s dividend payout ratio is 8.70%.

Institutional Trading of W. R. Berkley

Hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley raised its holdings in W. R. Berkley by 4.2% during the third quarter. Morgan Stanley now owns 13,065,224 shares of the insurance provider’s stock valued at $829,511,000 after buying an additional 529,817 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in W. R. Berkley by 4.6% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,819,124 shares of the insurance provider’s stock valued at $432,946,000 after buying an additional 302,212 shares in the last quarter. Victory Capital Management Inc. raised its holdings in W. R. Berkley by 2.7% during the fourth quarter. Victory Capital Management Inc. now owns 5,793,764 shares of the insurance provider’s stock valued at $409,735,000 after buying an additional 154,468 shares in the last quarter. Norges Bank bought a new position in W. R. Berkley during the fourth quarter valued at about $213,635,000. Finally, Northern Trust Corp raised its holdings in W. R. Berkley by 2.0% during the fourth quarter. Northern Trust Corp now owns 2,041,442 shares of the insurance provider’s stock valued at $144,371,000 after buying an additional 39,594 shares in the last quarter. 68.82% of the stock is currently owned by hedge funds and other institutional investors.

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.