W.R. Berkley Corporation (NYSE:WRB) Given Average Rating of “Reduce” by Analysts

W.R. Berkley Corporation (NYSE:WRB) has received a consensus rating of “Reduce” from the eighteen analysts that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $70.4444.

Several brokerages have issued reports on WRB. Atlantic Securities set a $74.00 price target on W.R. Berkley in a report on Wednesday, July 15th. Evercore reissued an “underperform” rating and issued a $68.00 price objective on shares of W.R. Berkley in a research report on Friday, July 10th. Wells Fargo & Company restated an “underweight” rating and set a $68.00 target price (up from $67.00) on shares of W.R. Berkley in a research note on Tuesday. Truist Financial lifted their target price on shares of W.R. Berkley from $78.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wall Street Zen upgraded shares of W.R. Berkley from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th.

W.R. Berkley Price Performance

Shares of NYSE WRB opened at $73.41 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average price is $69.01 and its two-hundred day moving average price is $68.40. The company has a market cap of $27.33 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 3.37 and a beta of 0.29. W.R. Berkley has a twelve month low of $62.87 and a twelve month high of $78.96.

W.R. Berkley (NYSE:WRB) last issued its earnings results on Monday, July 20th. The insurance provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.08 by $0.19. The company 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 firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. On average, analysts predict that W.R. Berkley will post 4.74 EPS for the current year.

W.R. Berkley Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 23rd were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This is a positive change from W.R. Berkley’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. W.R. Berkley’s dividend payout ratio (DPR) is currently 8.21%.

Institutional Investors Weigh In On W.R. Berkley

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Entrust Financial LLC acquired a new position in shares of W.R. Berkley in the fourth quarter valued at about $25,000. Hazlett Burt & Watson Inc. lifted its stake in W.R. Berkley by 140.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 210 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in shares of W.R. Berkley in the 2nd quarter valued at $29,000. DV Equities LLC acquired a new stake in shares of W.R. Berkley in the 4th quarter valued at $29,000. Finally, Triumph Capital Management bought a new position in W.R. Berkley in the third quarter valued at about $35,000. Institutional investors and hedge funds 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.