W.R. Berkley Corporation (NYSE:WRB) Given Consensus Recommendation of “Hold” by Brokerages

W.R. Berkley Corporation (NYSE:WRB) has been assigned an average recommendation of “Hold” from the seventeen research firms that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $69.6667.

A number of brokerages have commented on WRB. Keefe, Bruyette & Woods lifted their target price on shares of W.R. Berkley from $73.00 to $76.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 6th. Jefferies Financial Group dropped their price target on shares of W.R. Berkley from $75.00 to $70.00 and set a “hold” rating for the company in a research note on Tuesday, January 27th. Wells Fargo & Company reduced their price target on shares of W.R. Berkley from $68.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 27th. Mizuho decreased their price objective on W.R. Berkley from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Tuesday, January 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $75.00 price objective (down from $76.00) on shares of W.R. Berkley in a research report on Monday, February 2nd.

Insider Buying and Selling at W.R. Berkley

In other W.R. Berkley news, major shareholder Sumitomo Insurance Co L. Mitsui acquired 370,000 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The stock was purchased at an average cost of $67.07 per share, with a total value of $24,815,900.00. Following the transaction, the insider owned 54,959,504 shares of the company’s stock, valued at $3,686,133,933.28. This trade represents a 0.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders acquired 9,525,512 shares of company stock worth $659,778,305. Corporate insiders own 23.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of W.R. Berkley by 75.6% in the 4th quarter. Brighton Jones LLC now owns 50,503 shares of the insurance provider’s stock valued at $2,955,000 after acquiring an additional 21,737 shares during the period. Empowered Funds LLC lifted its holdings in shares of W.R. Berkley by 9.7% in the 1st quarter. Empowered Funds LLC now owns 33,990 shares of the insurance provider’s stock worth $2,419,000 after acquiring an additional 3,013 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of W.R. Berkley by 399.0% during the 1st quarter. Acadian Asset Management LLC now owns 9,506 shares of the insurance provider’s stock worth $675,000 after purchasing an additional 7,601 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in W.R. Berkley in the 2nd quarter valued at approximately $221,000. Finally, Creative Planning increased its holdings in W.R. Berkley by 9.5% in the 2nd quarter. Creative Planning now owns 87,943 shares of the insurance provider’s stock valued at $6,461,000 after purchasing an additional 7,598 shares during the last quarter. Hedge funds and other institutional investors own 68.82% of the company’s stock.

W.R. Berkley Stock Down 0.7%

Shares of NYSE:WRB opened at $65.76 on Friday. W.R. Berkley has a 52-week low of $62.63 and a 52-week high of $78.96. The stock has a market cap of $24.62 billion, a P/E ratio of 14.78, a PEG ratio of 2.60 and a beta of 0.35. The business has a fifty day moving average of $69.28 and a two-hundred day moving average of $71.94. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.29.

W.R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Monday, January 26th. The insurance provider reported $1.13 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.01). W.R. Berkley had a return on equity of 18.17% and a net margin of 12.10%.The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. On average, research analysts expect that W.R. Berkley will post 4.33 earnings per share for the current year.

W.R. Berkley Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, February 23rd. W.R. Berkley’s dividend payout ratio is 8.09%.

About W.R. Berkley

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.