W. R. Berkley (NYSE:WRB) Price Target Cut to $94.00

W. R. Berkley (NYSE:WRB) had its price objective decreased by stock analysts at Wells Fargo & Company from $99.00 to $94.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 20.65% from the company’s current price.

Several other equities research analysts also recently weighed in on WRB. Royal Bank of Canada increased their price target on W. R. Berkley from $73.00 to $79.00 and gave the stock a “sector perform” rating in a report on Thursday, January 25th. Truist Financial reduced their price target on W. R. Berkley from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday. UBS Group increased their price target on W. R. Berkley from $81.00 to $93.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. StockNews.com downgraded W. R. Berkley from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. Finally, BMO Capital Markets increased their price target on W. R. Berkley from $71.00 to $81.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, W. R. Berkley presently has an average rating of “Moderate Buy” and an average target price of $90.63.

W. R. Berkley Price Performance

Shares of W. R. Berkley stock opened at $77.91 on Wednesday. The firm has a market cap of $19.99 billion, a PE ratio of 13.81, a PEG ratio of 1.48 and a beta of 0.57. W. R. Berkley has a 12 month low of $55.50 and a 12 month high of $89.18. The stock has a 50 day moving average of $84.38 and a 200 day moving average of $76.22. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.38.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WRB. ING Groep NV increased its holdings in shares of W. R. Berkley by 1.7% in the 4th quarter. ING Groep NV now owns 7,669 shares of the insurance provider’s stock valued at $542,000 after acquiring an additional 128 shares during the period. Wedmont Private Capital increased its holdings in shares of W. R. Berkley by 3.0% in the 1st quarter. Wedmont Private Capital now owns 4,768 shares of the insurance provider’s stock valued at $399,000 after acquiring an additional 137 shares during the period. West Paces Advisors Inc. increased its holdings in shares of W. R. Berkley by 12.7% in the 1st quarter. West Paces Advisors Inc. now owns 1,228 shares of the insurance provider’s stock valued at $109,000 after acquiring an additional 138 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of W. R. Berkley by 6.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,250 shares of the insurance provider’s stock valued at $159,000 after acquiring an additional 144 shares during the period. Finally, Ballentine Partners LLC increased its holdings in shares of W. R. Berkley by 1.6% in the 4th quarter. Ballentine Partners LLC now owns 9,180 shares of the insurance provider’s stock valued at $649,000 after acquiring an additional 147 shares during the period. 68.82% of the stock is currently owned by hedge funds and other institutional investors.

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.