W.R. Berkley Corporation (NYSE:WRB) Receives Consensus Recommendation of “Hold” from Analysts

W.R. Berkley Corporation (NYSE:WRB) has earned an average recommendation of “Hold” from the sixteen analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $73.9286.

A number of research analysts have commented on the stock. UBS Group reiterated a “neutral” rating and set a $87.00 price objective on shares of W.R. Berkley in a research note on Friday, November 7th. Barclays restated an “underweight” rating and issued a $73.00 target price on shares of W.R. Berkley in a research note on Wednesday, October 8th. Truist Financial set a $84.00 price target on W.R. Berkley and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Jefferies Financial Group cut their price objective on W.R. Berkley from $76.00 to $75.00 and set a “hold” rating on the stock in a research note on Tuesday, October 21st. Finally, Mizuho set a $67.00 target price on W.R. Berkley and gave the stock a “neutral” rating in a research report on Monday, December 15th.

Insiders Place Their Bets

In other W.R. Berkley news, major shareholder Sumitomo Insurance Co L. Mitsui bought 237,734 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were bought at an average cost of $69.35 per share, with a total value of $16,486,852.90. Following the completion of the acquisition, the insider owned 50,764,245 shares of the company’s stock, valued at approximately $3,520,500,390.75. This trade represents a 0.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired a total of 1,957,657 shares of company stock worth $137,235,699 in the last three months. 23.00% of the stock is owned by insiders.

Institutional Investors Weigh In On W.R. Berkley

Large investors have recently added to or reduced their stakes in the stock. Compass Financial Services Inc bought a new position in shares of W.R. Berkley during the third quarter worth about $26,000. Hilltop National Bank acquired a new position in W.R. Berkley during the 2nd quarter valued at about $27,000. Twin Peaks Wealth Advisors LLC bought a new position in W.R. Berkley in the 2nd quarter worth about $27,000. Triumph Capital Management acquired a new stake in shares of W.R. Berkley in the third quarter valued at approximately $35,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of W.R. Berkley during the second quarter valued at approximately $34,000. 68.82% of the stock is owned by institutional investors and hedge funds.

W.R. Berkley Price Performance

Shares of NYSE WRB opened at $69.36 on Monday. W.R. Berkley has a fifty-two week low of $55.97 and a fifty-two week high of $78.96. The business has a 50 day moving average price of $72.69 and a two-hundred day moving average price of $72.45. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.29. The firm has a market cap of $26.36 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.42 and a beta of 0.39.

W.R. Berkley (NYSE:WRB) last announced its earnings results on Monday, October 20th. The insurance provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. W.R. Berkley had a return on equity of 18.86% and a net margin of 13.01%.The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the company posted $0.93 EPS. W.R. Berkley’s quarterly revenue was up 10.8% on a year-over-year basis. Sell-side analysts expect that W.R. Berkley will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 15th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, December 15th. W.R. Berkley’s payout ratio is currently 7.56%.

W.R. Berkley Company Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.