W. R. Berkley (NYSE:WRB) Upgraded at The Goldman Sachs Group

W. R. Berkley (NYSE:WRB) was upgraded by investment analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage presently has a $69.00 target price on the insurance provider’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 10.81% from the stock’s previous close.

Several other equities analysts have also issued reports on WRB. Wells Fargo & Company boosted their target price on W. R. Berkley from $63.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada lifted their price target on W. R. Berkley from $57.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 22nd. Truist Financial lifted their price target 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. Bank of America boosted their target price on shares of W. R. Berkley from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, UBS Group lifted their target price on W. R. Berkley from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $64.22.

W. R. Berkley Trading Up 0.2 %

W. R. Berkley stock opened at $62.27 on Monday. W. R. Berkley has a 12 month low of $45.75 and a 12 month high of $62.54. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average price of $58.77 and a two-hundred day moving average price of $56.52. The stock has a market cap of $23.73 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 1.20 and a beta of 0.62.

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 firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.93 billion. W. R. Berkley had a return on equity of 20.41% and a net margin of 11.96%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the firm posted $0.90 EPS. As a group, equities analysts forecast that W. R. Berkley will post 3.94 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. grew its holdings in shares of W. R. Berkley by 95.4% during the 1st quarter. Advisors Asset Management Inc. now owns 4,430 shares of the insurance provider’s stock valued at $392,000 after purchasing an additional 2,163 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of W. R. Berkley by 16.8% during the first quarter. Lazard Asset Management LLC now owns 58,485 shares of the insurance provider’s stock valued at $5,171,000 after purchasing an additional 8,427 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of W. R. Berkley by 1.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 274,112 shares of the insurance provider’s stock valued at $24,243,000 after buying an additional 4,291 shares during the period. Silvercrest Asset Management Group LLC bought a new position in W. R. Berkley in the 1st quarter valued at approximately $207,000. Finally, B. Riley Wealth Advisors Inc. grew its holdings in W. R. Berkley by 96.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 6,006 shares of the insurance provider’s stock worth $531,000 after acquiring an additional 2,954 shares during the last quarter. Institutional investors own 68.82% of the company’s stock.

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.