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

W.R. Berkley (NYSE:WRB) had its price objective boosted by investment analysts at Truist Financial from $78.00 to $83.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the insurance provider’s stock. Truist Financial’s target price suggests a potential upside of 14.62% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. 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. Brean Capital lowered W.R. Berkley from a “buy” rating to a “neutral” rating and set a $73.00 price objective for the company. in a report on Wednesday, March 25th. Wells Fargo & Company reissued an “underweight” rating and issued a $68.00 target price (up from $67.00) on shares of W.R. Berkley in a research report on Tuesday. BMO Capital Markets upgraded W.R. Berkley from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $64.00 to $68.00 in a research note on Thursday, April 23rd. Finally, Evercore reaffirmed an “underperform” rating and set a $68.00 price target on shares of W.R. Berkley in a research report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, W.R. Berkley currently has a consensus rating of “Reduce” and a consensus target price of $70.44.

W.R. Berkley Stock Performance

NYSE WRB opened at $72.41 on Tuesday. The company has a market capitalization of $26.96 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 3.42 and a beta of 0.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.36 and a current ratio of 0.36. W.R. Berkley has a 52-week low of $62.87 and a 52-week high of $78.96. The company has a 50-day simple moving average of $68.86 and a 200 day simple moving average of $68.37.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Stoneridge Investment Partners LLC bought a new position in W.R. Berkley in the 4th quarter worth about $2,801,000. Generali Asset Management SPA SGR purchased a new position in shares of W.R. Berkley during the fourth quarter worth about $1,630,000. Eagle Rock Investment Company LLC grew its holdings in shares of W.R. Berkley by 18.8% during the fourth quarter. Eagle Rock Investment Company LLC now owns 118,876 shares of the insurance provider’s stock worth $8,336,000 after purchasing an additional 18,820 shares in the last quarter. Citadel Investment Advisory Inc. increased its position in shares of W.R. Berkley by 105.4% in the fourth quarter. Citadel Investment Advisory Inc. now owns 29,693 shares of the insurance provider’s stock worth $2,082,000 after purchasing an additional 15,240 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in W.R. Berkley in the fourth quarter valued at approximately $65,233,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.

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.