W.R. Berkley (NYSE:WRB) Given New $67.00 Price Target at Mizuho

W.R. Berkley (NYSE:WRBFree Report) had its price target lowered by Mizuho from $69.00 to $67.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a neutral rating on the insurance provider’s stock.

A number of other research analysts have also weighed in on WRB. Barclays reaffirmed an “underweight” rating and issued a $64.00 price target (down from $73.00) on shares of W.R. Berkley in a research note on Thursday, January 8th. Keefe, Bruyette & Woods lifted their price target on 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. TD Cowen downgraded W.R. Berkley from a “buy” rating to a “sell” rating and reduced their price objective for the company from $77.00 to $55.00 in a research note on Tuesday, January 20th. Cantor Fitzgerald lowered their target price on shares of W.R. Berkley from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. Finally, Morgan Stanley set a $75.00 target price on shares of W.R. Berkley in a research report on Tuesday, December 16th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, W.R. Berkley presently has an average rating of “Reduce” and a consensus target price of $70.57.

Read Our Latest Research Report on WRB

W.R. Berkley Trading Up 0.7%

Shares of WRB stock opened at $67.33 on Tuesday. W.R. Berkley has a 1-year low of $58.07 and a 1-year high of $78.96. The company has a market cap of $25.59 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 2.49 and a beta of 0.39. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a 50 day simple moving average of $70.55 and a 200-day simple moving average of $72.06.

W.R. Berkley (NYSE:WRBGet Free Report) last issued 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). The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.18 billion. W.R. Berkley had a return on equity of 18.35% and a net margin of 12.10%.W.R. Berkley’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 EPS. On average, equities research analysts expect that W.R. Berkley will post 4.33 EPS for the current fiscal year.

W.R. Berkley Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were issued a $0.09 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. W.R. Berkley’s dividend payout ratio is currently 8.09%.

Insider Buying and Selling

In other news, major shareholder Sumitomo Insurance Co L. Mitsui bought 368,000 shares of the firm’s stock in a transaction on Friday, January 23rd. The shares were bought at an average cost of $66.96 per share, for a total transaction of $24,641,280.00. Following the acquisition, the insider directly owned 54,589,504 shares of the company’s stock, valued at $3,655,313,187.84. This trade represents a 0.68% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have bought 5,782,916 shares of company stock worth $399,073,250 over the last quarter. 23.00% of the stock is owned by insiders.

Institutional Trading of W.R. Berkley

Institutional investors have recently made changes to their positions in the company. Compass Financial Services Inc acquired a new stake in W.R. Berkley during the third quarter worth $26,000. Hilltop National Bank acquired a new stake in shares of W.R. Berkley during the 2nd quarter worth about $27,000. Twin Peaks Wealth Advisors LLC purchased a new stake in W.R. Berkley in the 2nd quarter valued at about $27,000. Triumph Capital Management acquired a new position in W.R. Berkley in the third quarter valued at about $35,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in W.R. Berkley during the second quarter worth about $34,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.

Key Stories Impacting W.R. Berkley

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About W.R. Berkley

(Get Free Report)

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.

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

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