W. R. Berkley (NYSE:WRB) Coverage Initiated by Analysts at TD Cowen

Equities researchers at TD Cowen assumed coverage on shares of W. R. Berkley (NYSE:WRBGet Free Report) in a research note issued to investors on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $103.00 price target on the insurance provider’s stock. TD Cowen’s price objective points to a potential upside of 31.08% from the stock’s current price.

Several other research analysts also recently weighed in on WRB. The Goldman Sachs Group downgraded W. R. Berkley from a “buy” rating to a “neutral” rating and lowered their target price for the company from $88.00 to $83.00 in a research note on Thursday, June 13th. StockNews.com cut W. R. Berkley from a “buy” rating to a “hold” rating in a report on Friday, June 14th. Wells Fargo & Company lowered their target price on W. R. Berkley from $99.00 to $94.00 and set an “overweight” rating on the stock in a report on Wednesday, April 24th. Evercore ISI raised their price objective 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. Finally, Royal Bank of Canada cut their price objective on W. R. Berkley from $88.00 to $86.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $90.44.

View Our Latest Analysis on WRB

W. R. Berkley Trading Down 1.0 %

Shares of NYSE:WRB opened at $78.58 on Monday. W. R. Berkley has a 1 year low of $57.79 and a 1 year high of $89.18. The business’s 50 day moving average price is $79.18 and its 200-day moving average price is $79.78. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $20.09 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 1.02 and a beta of 0.61.

W. R. Berkley shares are going to split on Wednesday, July 10th. The 3-2 split was announced on Wednesday, June 12th. The newly issued shares will be payable to shareholders after the closing bell on Tuesday, July 9th.

W. R. Berkley (NYSE:WRBGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The insurance provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. W. R. Berkley had a return on equity of 20.51% and a net margin of 12.23%. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the business posted $1.00 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts forecast that W. R. Berkley will post 5.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. ING Groep NV increased its position in W. R. Berkley by 1.7% in the 4th quarter. ING Groep NV now owns 7,669 shares of the insurance provider’s stock worth $542,000 after purchasing an additional 128 shares during the last quarter. Wedmont Private Capital increased its stake in shares of W. R. Berkley by 3.0% in the first quarter. Wedmont Private Capital now owns 4,768 shares of the insurance provider’s stock worth $399,000 after purchasing an additional 137 shares during the period. West Paces Advisors Inc. lifted its stake in shares of W. R. Berkley by 12.7% in the first quarter. West Paces Advisors Inc. now owns 1,228 shares of the insurance provider’s stock valued at $109,000 after buying an additional 138 shares during the period. Quadrant Capital Group LLC increased its stake in W. R. Berkley by 6.8% in the fourth 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, Mitchell & Pahl Private Wealth LLC boosted its stake in shares of W. R. Berkley by 1.0% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 14,221 shares of the insurance provider’s stock valued at $1,258,000 after purchasing an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 68.82% of the company’s stock.

About W. R. Berkley

(Get Free Report)

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.

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

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