W. R. Berkley (NYSE:WRB – Get Free Report) had its price target lifted by equities researchers at Wells Fargo & Company from $59.00 to $63.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 8.10% from the stock’s previous close.
Several other analysts have also commented on WRB. Jefferies Financial Group raised their price objective on W. R. Berkley from $53.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $57.00 price target on shares of W. R. Berkley in a research note on Tuesday, July 23rd. StockNews.com cut shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group lowered shares of W. R. Berkley from a “buy” rating to a “neutral” rating and dropped their target price for the company from $58.67 to $55.33 in a research report on Thursday, June 13th. Finally, Truist Financial upped their price target on shares of W. R. Berkley from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $59.79.
Read Our Latest Stock Analysis on W. R. Berkley
W. R. Berkley Stock Performance
W. R. Berkley (NYSE:WRB – Get Free Report) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.12. W. R. Berkley had a net margin of 12.05% and a return on equity of 21.34%. The business had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The company’s revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts predict that W. R. Berkley will post 4.03 EPS for the current year.
Institutional Trading of W. R. Berkley
Large investors have recently added to or reduced their stakes in the stock. Prudential PLC grew its holdings in shares of W. R. Berkley by 205.9% in the second quarter. Prudential PLC now owns 68,526 shares of the insurance provider’s stock valued at $5,385,000 after purchasing an additional 46,125 shares during the period. Sanctuary Advisors LLC acquired a new position in W. R. Berkley in the 2nd quarter valued at about $4,801,000. Stoneridge Investment Partners LLC purchased a new stake in shares of W. R. Berkley in the 2nd quarter valued at approximately $3,245,000. ProShare Advisors LLC increased its holdings in shares of W. R. Berkley by 25.6% during the 2nd quarter. ProShare Advisors LLC now owns 49,310 shares of the insurance provider’s stock worth $3,875,000 after buying an additional 10,053 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of W. R. Berkley by 47.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 174,543 shares of the insurance provider’s stock valued at $13,716,000 after buying an additional 55,942 shares during the period. 68.82% of the stock is currently owned by hedge funds and other institutional investors.
About W. R. Berkley
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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