W.R. Berkley (NYSE:WRB) Lowered to “Sell” Rating by Wall Street Zen

W.R. Berkley (NYSE:WRB) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

Several other equities research analysts have also recently commented on WRB. Cantor Fitzgerald reiterated an “overweight” rating and set a $75.00 price target (down from $76.00) on shares of W.R. Berkley in a research report on Monday, February 2nd. Evercore restated an “underperform” rating on shares of W.R. Berkley in a report on Monday, March 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $73.00 price objective on shares of W.R. Berkley in a research note on Wednesday, January 7th. Morgan Stanley set a $73.00 target price on shares of W.R. Berkley in a research report on Wednesday, January 28th. Finally, UBS Group set a $71.00 price target on W.R. Berkley in a research note on Monday, February 2nd. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $69.88.

W.R. Berkley Trading Down 0.9%

Shares of WRB opened at $64.69 on Friday. The stock’s fifty day simple moving average is $68.93 and its 200-day simple moving average is $71.68. The firm has a market capitalization of $24.23 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 2.53 and a beta of 0.35. W.R. Berkley has a 12-month low of $62.63 and a 12-month high of $78.96. 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 announced its quarterly earnings data on Monday, January 26th. The insurance provider reported $1.13 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the previous year, the business earned $1.13 earnings per share. W.R. Berkley’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts predict that W.R. Berkley will post 4.33 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Sumitomo Insurance Co L. Mitsui bought 112,176 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were bought at an average cost of $72.20 per share, for a total transaction of $8,099,107.20. Following the completion of the acquisition, the insider owned 58,780,450 shares in the company, valued at approximately $4,243,948,490. This trade represents a 0.19% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased a total of 8,648,939 shares of company stock valued at $598,055,212 over the last ninety days. 23.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On W.R. Berkley

Institutional investors and hedge funds have recently made changes to their positions in the company. Compass Financial Services Inc bought a new position in W.R. Berkley during the third quarter worth about $26,000. Entrust Financial LLC bought a new stake in shares of W.R. Berkley in the fourth quarter worth about $25,000. Hazlett Burt & Watson Inc. raised its position in shares of W.R. Berkley by 140.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 210 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of W.R. Berkley during the 2nd quarter valued at about $27,000. Finally, DV Equities LLC acquired a new position in shares of W.R. Berkley in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 68.82% of the company’s stock.

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.