W. R. Berkley Co. (NYSE:WRB) Receives Consensus Rating of “Moderate Buy” from Analysts

W. R. Berkley Co. (NYSE:WRBGet Rating) has been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $73.70.

A number of equities research analysts recently issued reports on WRB shares. Jefferies Financial Group upped their target price on W. R. Berkley from $67.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday, July 12th. Keefe, Bruyette & Woods upgraded W. R. Berkley from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $77.00 to $80.00 in a report on Monday, September 5th. Morgan Stanley boosted their price target on W. R. Berkley from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, August 19th. Argus started coverage on W. R. Berkley in a report on Wednesday, August 3rd. They issued a “buy” rating and a $72.00 price target for the company. Finally, Wells Fargo & Company boosted their price target on W. R. Berkley to $83.00 in a report on Friday, July 22nd.

W. R. Berkley Price Performance

WRB stock opened at $64.44 on Friday. W. R. Berkley has a 1 year low of $48.20 and a 1 year high of $72.32. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.39 and a current ratio of 0.39. The stock’s 50 day moving average price is $65.01 and its 200 day moving average price is $66.49. The firm has a market cap of $17.09 billion, a P/E ratio of 13.56, a PEG ratio of 1.80 and a beta of 0.62.

W. R. Berkley (NYSE:WRBGet Rating) last posted its earnings results on Thursday, July 21st. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.28. W. R. Berkley had a return on equity of 17.26% and a net margin of 12.71%. The firm had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the prior year, the company earned $0.78 EPS. On average, sell-side analysts expect that W. R. Berkley will post 4.1 earnings per share for the current fiscal year.

W. R. Berkley Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 26th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, September 23rd. This represents a $0.40 annualized dividend and a dividend yield of 0.62%. W. R. Berkley’s payout ratio is 8.42%.

Insider Transactions at W. R. Berkley

In related news, Director Mark Ellwood Brockbank purchased 4,566 shares of W. R. Berkley stock in a transaction dated Friday, July 29th. The shares were acquired at an average price of $62.00 per share, with a total value of $283,092.00. Following the completion of the transaction, the director now owns 4,566 shares of the company’s stock, valued at approximately $283,092. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 22.50% of the company’s stock.

Institutional Investors Weigh In On W. R. Berkley

Several institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. increased its stake in shares of W. R. Berkley by 44,265.0% in the second quarter. Federated Hermes Inc. now owns 521,732 shares of the insurance provider’s stock valued at $35,614,000 after purchasing an additional 520,556 shares during the period. Private Trust Co. NA bought a new stake in W. R. Berkley during the second quarter worth approximately $543,000. O Neil Global Advisors Inc. bought a new stake in W. R. Berkley during the second quarter worth approximately $220,000. B. Riley Wealth Management Inc. boosted its stake in W. R. Berkley by 5.9% in the 2nd quarter. B. Riley Wealth Management Inc. now owns 3,974 shares of the insurance provider’s stock worth $271,000 after purchasing an additional 220 shares during the period. Finally, Royal London Asset Management Ltd. boosted its stake in W. R. Berkley by 15.6% in the 2nd quarter. Royal London Asset Management Ltd. now owns 65,572 shares of the insurance provider’s stock worth $4,477,000 after purchasing an additional 8,867 shares during the period. Institutional investors and hedge funds own 69.05% of the company’s stock.

W. R. Berkley Company Profile

(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.

Further Reading

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

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