W. R. Berkley (NYSE:WRB) PT Raised to $76.00 at Wells Fargo & Company

W. R. Berkley (NYSE:WRBGet Rating) had its target price lifted by Wells Fargo & Company from $65.00 to $76.00 in a research report report published on Tuesday, The Fly reports. The firm currently has an overweight rating on the insurance provider’s stock.

Several other equities research analysts have also issued reports on the stock. Wolfe Research upgraded shares of W. R. Berkley from a market perform rating to an outperform rating and set a $70.67 target price for the company in a report on Thursday, February 3rd. StockNews.com began coverage on shares of W. R. Berkley in a report on Thursday, March 31st. They issued a hold rating for the company. Evercore ISI began coverage on shares of W. R. Berkley in a report on Thursday, December 16th. They issued an outperform rating and a $65.33 target price for the company. Royal Bank of Canada raised their target price on shares of W. R. Berkley from $63.00 to $75.00 in a report on Friday, April 8th. Finally, Zacks Investment Research lowered shares of W. R. Berkley from a buy rating to a hold rating and set a $70.00 target price for the company. in a report on Wednesday, April 6th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, W. R. Berkley has an average rating of Buy and a consensus target price of $64.64.

W. R. Berkley stock opened at $68.52 on Tuesday. The company has a market cap of $18.17 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 2.08 and a beta of 0.80. The firm’s fifty day moving average is $63.47 and its 200 day moving average is $57.12. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.49. W. R. Berkley has a 52-week low of $47.13 and a 52-week high of $68.94.

W. R. Berkley (NYSE:WRBGet Rating) last released its quarterly earnings results on Thursday, January 27th. The insurance provider reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.21. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.15 billion. W. R. Berkley had a net margin of 10.81% and a return on equity of 14.45%. W. R. Berkley’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 earnings per share. On average, equities research analysts anticipate that W. R. Berkley will post 3.62 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 23rd. Investors of record on Wednesday, March 9th were issued a dividend of $0.0867 per share. The ex-dividend date of this dividend was Tuesday, March 8th. This represents a $0.35 dividend on an annualized basis and a yield of 0.51%. W. R. Berkley’s payout ratio is 9.56%.

A number of hedge funds and other institutional investors have recently bought and sold shares of WRB. Berkley W R Corp purchased a new position in W. R. Berkley during the 3rd quarter valued at about $94,223,000. Norges Bank purchased a new position in W. R. Berkley during the 4th quarter valued at about $101,019,000. Millennium Management LLC increased its position in W. R. Berkley by 384.0% during the 4th quarter. Millennium Management LLC now owns 1,355,230 shares of the insurance provider’s stock valued at $111,657,000 after purchasing an additional 1,075,197 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in W. R. Berkley by 21.9% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,358,324 shares of the insurance provider’s stock valued at $392,123,000 after purchasing an additional 962,043 shares during the period. Finally, Point72 Asset Management L.P. increased its position in W. R. Berkley by 2,223.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 436,853 shares of the insurance provider’s stock valued at $31,969,000 after purchasing an additional 418,053 shares during the period. 74.74% of the stock is currently owned by institutional investors and hedge funds.

About W. R. Berkley (Get Rating)

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and general and professional liability lines.

Featured Articles

The Fly logo

Analyst Recommendations for W. R. Berkley (NYSE:WRB)

Receive News & Ratings for W. R. Berkley Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W. R. Berkley and related companies with MarketBeat.com's FREE daily email newsletter.