W. R. Berkley (NYSE:WRB) Price Target Lowered to $67.00 at Wells Fargo & Company

W. R. Berkley (NYSE:WRB) had its price target decreased by stock analysts at Wells Fargo & Company from $68.00 to $67.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 16.64% from the stock’s current price.

A number of other equities research analysts have also issued reports on WRB. Truist Financial upped their price objective on shares of W. R. Berkley from $64.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Barclays dropped their price target on shares of W. R. Berkley from $56.00 to $50.00 and set an “underweight” rating for the company in a research note on Monday, January 6th. Jefferies Financial Group upped their price objective on W. R. Berkley from $53.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Morgan Stanley assumed coverage on shares of W. R. Berkley in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $65.00 price target on the stock. Finally, Keefe, Bruyette & Woods dropped their target price on shares of W. R. Berkley from $59.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $63.74.

W. R. Berkley Price Performance

WRB stock traded up $0.14 during trading on Tuesday, hitting $57.44. The stock had a trading volume of 98,953 shares, compared to its average volume of 1,449,538. The company’s 50-day moving average price is $60.30 and its two-hundred day moving average price is $58.36. W. R. Berkley has a twelve month low of $48.48 and a twelve month high of $65.49. The stock has a market capitalization of $21.89 billion, a P/E ratio of 14.72, a PEG ratio of 1.17 and a beta of 0.67. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.36 and a quick ratio of 0.36.

W. R. Berkley (NYSE:WRB) last issued its earnings results on Monday, October 21st. The insurance provider reported $0.93 EPS 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 analysts’ expectations 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 quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 earnings per share. As a group, research analysts predict that W. R. Berkley will post 3.96 EPS for the current fiscal year.

Institutional Trading of W. R. Berkley

Several hedge funds have recently added to or reduced their stakes in WRB. State Street Corp increased its position in shares of W. R. Berkley by 48.6% in the 3rd quarter. State Street Corp now owns 15,121,001 shares of the insurance provider’s stock valued at $857,814,000 after purchasing an additional 4,947,830 shares during the last quarter. Janus Henderson Group PLC raised its stake in W. R. Berkley by 51.0% in the third quarter. Janus Henderson Group PLC now owns 11,321,958 shares of the insurance provider’s stock valued at $642,294,000 after buying an additional 3,825,238 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in W. R. Berkley by 55.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,366,424 shares of the insurance provider’s stock worth $417,897,000 after buying an additional 2,616,227 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of W. R. Berkley by 211.3% in the 3rd quarter. Principal Financial Group Inc. now owns 3,674,171 shares of the insurance provider’s stock valued at $208,436,000 after acquiring an additional 2,493,758 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of W. R. Berkley by 47.9% during the 3rd quarter. Geode Capital Management LLC now owns 7,591,353 shares of the insurance provider’s stock worth $429,266,000 after acquiring an additional 2,459,073 shares in the last quarter. Institutional investors and hedge funds 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.