Mizuho Forecasts Strong Price Appreciation for W.R. Berkley (NYSE:WRB) Stock

W.R. Berkley (NYSE:WRB) had its price objective increased by equities researchers at Mizuho from $72.00 to $74.00 in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm presently has a “neutral” rating on the insurance provider’s stock. Mizuho’s price objective would indicate a potential upside of 2.19% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of W.R. Berkley in a research report on Tuesday. Wall Street Zen raised shares of W.R. Berkley from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $74.00 price target (up from $70.00) on shares of W.R. Berkley in a report on Thursday, July 9th. Argus downgraded W.R. Berkley from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Wolfe Research lowered W.R. Berkley from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $70.44.

W.R. Berkley Stock Up 0.4%

W.R. Berkley stock opened at $72.41 on Tuesday. The business’s 50-day simple moving average is $68.86 and its two-hundred day simple moving average is $68.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $26.96 billion, a PE ratio of 14.87, a PEG ratio of 3.42 and a beta of 0.29. W.R. Berkley has a fifty-two week low of $62.87 and a fifty-two week high of $78.96.

W.R. Berkley (NYSE:WRB) last released its earnings results on Monday, July 20th. The insurance provider reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.19. The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.28 billion. W.R. Berkley had a return on equity of 19.49% and a net margin of 12.94%.The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share. Equities analysts anticipate that W.R. Berkley will post 4.66 EPS for the current year.

Institutional Trading of W.R. Berkley

Institutional investors and hedge funds have recently made changes to their positions in the business. Mitsui Sumitomo Insurance Co. Ltd. purchased a new stake in W.R. Berkley in the 4th quarter worth $3,542,919,000. Norges Bank purchased a new position in W.R. Berkley during the fourth quarter valued at $435,752,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in W.R. Berkley by 35,572.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,219,902 shares of the insurance provider’s stock valued at $155,660,000 after purchasing an additional 2,213,679 shares in the last quarter. Invesco Ltd. grew its position in shares of W.R. Berkley by 33.4% in the third quarter. Invesco Ltd. now owns 4,892,799 shares of the insurance provider’s stock valued at $374,886,000 after purchasing an additional 1,224,363 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of W.R. Berkley by 70.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,754,383 shares of the insurance provider’s stock valued at $193,137,000 after purchasing an additional 1,140,349 shares during the period. 68.82% of the stock is currently owned by hedge funds and other institutional investors.

W.R. Berkley Company Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.