W. R. Berkley (NYSE:WRB) Price Target Cut to $93.00

W. R. Berkley (NYSE:WRB) had its price objective lowered by equities research analysts at Truist Financial from $95.00 to $93.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. Truist Financial’s price target would suggest a potential upside of 19.37% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of W. R. Berkley from $85.00 to $88.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. UBS Group lifted their price objective on shares of W. R. Berkley from $81.00 to $93.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. The Goldman Sachs Group lifted their price objective on shares of W. R. Berkley from $86.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Royal Bank of Canada lifted their price objective on shares of W. R. Berkley from $73.00 to $79.00 and gave the company a “sector perform” rating in a research note on Thursday, January 25th. Finally, Evercore ISI lifted their target price on W. R. Berkley from $83.00 to $89.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.63.

W. R. Berkley Stock Performance

WRB stock opened at $77.91 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market capitalization of $19.99 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.48 and a beta of 0.57. W. R. Berkley has a 1 year low of $55.50 and a 1 year high of $89.18. The stock’s fifty day moving average is $84.38 and its two-hundred day moving average is $76.22.

W. R. Berkley (NYSE:WRB) last posted its earnings results on Tuesday, April 23rd. The insurance provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.77 billion. W. R. Berkley had a return on equity of 21.01% and a net margin of 12.23%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $1.00 earnings per share. On average, research analysts predict that W. R. Berkley will post 5.93 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Morgan Stanley increased its stake in W. R. Berkley by 4.2% in the 3rd quarter. Morgan Stanley now owns 13,065,224 shares of the insurance provider’s stock worth $829,511,000 after purchasing an additional 529,817 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in W. R. Berkley by 4.6% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,819,124 shares of the insurance provider’s stock worth $432,946,000 after purchasing an additional 302,212 shares in the last quarter. Victory Capital Management Inc. increased its stake in W. R. Berkley by 2.7% in the 4th quarter. Victory Capital Management Inc. now owns 5,793,764 shares of the insurance provider’s stock worth $409,735,000 after purchasing an additional 154,468 shares in the last quarter. Norges Bank purchased a new position in W. R. Berkley in the 4th quarter worth about $213,635,000. Finally, Northern Trust Corp increased its stake in W. R. Berkley by 2.0% in the 4th quarter. Northern Trust Corp now owns 2,041,442 shares of the insurance provider’s stock worth $144,371,000 after purchasing an additional 39,594 shares in the last quarter. 68.82% of the stock is owned by institutional investors and hedge funds.

W. R. Berkley Company Profile

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writers worldwide. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines, and specialty personal lines.