W.R. Berkley (NYSE:WRB) Rating Increased to Hold at Wall Street Zen

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

Several other research firms have also issued reports on WRB. Keefe, Bruyette & Woods raised their price target on shares of W.R. Berkley from $73.00 to $76.00 and gave the stock a “market perform” rating in a report on Tuesday, January 6th. Jefferies Financial Group reduced their price objective on 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 decreased their target price on shares of W.R. Berkley from $68.00 to $66.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 27th. 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 report on Monday, February 2nd. Finally, Truist Financial set a $80.00 target price on shares of W.R. Berkley and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, W.R. Berkley currently has an average rating of “Hold” and a consensus target price of $69.67.

W.R. Berkley Stock Down 0.7%

Shares of WRB opened at $65.76 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.37 and a quick ratio of 0.37. W.R. Berkley has a one year low of $62.63 and a one year high of $78.96. The company has a market cap of $24.62 billion, a P/E ratio of 14.78, a P/E/G ratio of 2.60 and a beta of 0.35. The firm has a 50 day simple moving average of $69.28 and a two-hundred day simple moving average of $71.94.

W.R. Berkley (NYSE:WRB) last issued its earnings results on Monday, January 26th. The insurance provider reported $1.13 earnings per share (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 period in the previous year, the company earned $1.13 EPS. W.R. Berkley’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts forecast that W.R. Berkley will post 4.33 EPS for the current fiscal year.

Insider Buying and Selling at W.R. Berkley

In other news, major shareholder Sumitomo Insurance Co L. Mitsui purchased 112,176 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were purchased at an average cost of $72.20 per share, with a total value of $8,099,107.20. Following the completion of the acquisition, the insider owned 58,780,450 shares in the company, valued at $4,243,948,490. This represents a 0.19% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders bought 9,525,512 shares of company stock worth $659,778,305 in the last quarter. Corporate insiders own 23.30% of the company’s stock.

Hedge Funds Weigh In On W.R. Berkley

Several hedge funds have recently bought and sold shares of WRB. Compass Financial Services Inc bought a new stake in W.R. Berkley during the 3rd quarter worth approximately $26,000. Entrust Financial LLC bought a new position in W.R. Berkley in the 4th quarter valued at $25,000. Hazlett Burt & Watson Inc. grew its position in shares of W.R. Berkley by 140.0% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 210 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of W.R. Berkley in the second quarter worth $27,000. Finally, DV Equities LLC bought a new position in shares of W.R. Berkley in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.

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.