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

W. R. Berkley (NYSE:WRB) had its price target cut by Truist Financial from $95.00 to $93.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the insurance provider’s stock. Truist Financial’s target price points to a potential upside of 19.37% from the stock’s current price.

Several other brokerages also recently weighed in on WRB. Royal Bank of Canada boosted their price objective on shares of W. R. Berkley from $73.00 to $79.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 25th. The Goldman Sachs Group upped their price target on shares of W. R. Berkley from $86.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, April 12th. UBS Group upped their price target on shares of W. R. Berkley from $81.00 to $93.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. StockNews.com downgraded shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Finally, Evercore ISI upped their price target on shares of W. R. Berkley from $83.00 to $89.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $90.63.

W. R. Berkley Stock Up 0.1 %

Shares of NYSE:WRB opened at $77.91 on Wednesday. The company has a market capitalization of $19.99 billion, a PE ratio of 13.81, a P/E/G ratio of 1.48 and a beta of 0.57. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38. W. R. Berkley has a twelve month low of $55.50 and a twelve month high of $89.18. The firm has a 50 day simple moving average of $84.38 and a 200-day simple moving average of $76.22.

W. R. Berkley (NYSE:WRB) last issued 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 the consensus estimate of $2.77 billion. W. R. Berkley had a net margin of 12.23% and a return on equity of 21.01%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 EPS. On average, equities analysts predict that W. R. Berkley will post 5.93 EPS for the current fiscal year.

Hedge Funds Weigh In On W. R. Berkley

Several institutional investors have recently bought and sold shares of WRB. Bruce G. Allen Investments LLC acquired a new position in shares of W. R. Berkley during the 4th quarter worth $25,000. Glassman Wealth Services grew its stake in shares of W. R. Berkley by 123.1% during the 4th quarter. Glassman Wealth Services now owns 357 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 197 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of W. R. Berkley by 106.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 406 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 209 shares during the period. Raleigh Capital Management Inc. grew its stake in shares of W. R. Berkley by 132.6% during the 3rd quarter. Raleigh Capital Management Inc. now owns 414 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 236 shares during the period. Finally, VisionPoint Advisory Group LLC acquired a new position in shares of W. R. Berkley during the 3rd quarter worth $27,000. 68.82% of the stock is 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.