W. R. Berkley (NYSE:WRB) Now Covered by Analysts at TD Cowen

Analysts at TD Cowen started coverage on shares of W. R. Berkley (NYSE:WRB) in a research report issued on Monday, Marketbeat.com reports. The firm set a “buy” rating and a $103.00 price target on the insurance provider’s stock. TD Cowen’s price objective indicates a potential upside of 31.08% from the company’s previous close.

Several other research firms also recently commented on WRB. Truist Financial decreased their price objective on W. R. Berkley from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Wells Fargo & Company lowered their price objective on W. R. Berkley from $99.00 to $94.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. BMO Capital Markets cut their target price on shares of W. R. Berkley from $93.00 to $87.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Royal Bank of Canada lowered their price target on shares of W. R. Berkley from $88.00 to $86.00 and set a “sector perform” rating for the company in a report on Wednesday, April 24th. Finally, The Goldman Sachs Group lowered shares of W. R. Berkley from a “buy” rating to a “neutral” rating and cut their price target for the stock from $88.00 to $83.00 in a report on Thursday, June 13th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $90.44.

W. R. Berkley Stock Performance

NYSE:WRB opened at $78.58 on Monday. W. R. Berkley has a twelve month low of $57.79 and a twelve month high of $89.18. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.36. The stock has a market cap of $20.09 billion, a P/E ratio of 13.93, a PEG ratio of 1.02 and a beta of 0.61. The business’s 50-day moving average price is $79.18 and its two-hundred day moving average price is $79.78.

W. R. Berkley shares are scheduled to split before the market opens on Wednesday, July 10th. The 3-2 split was announced on Wednesday, June 12th. The newly issued shares will be payable to shareholders after the closing bell on Tuesday, July 9th.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Tuesday, April 23rd. The insurance provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.77 billion. W. R. Berkley had a return on equity of 20.51% and a net margin of 12.23%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 EPS. As a group, equities analysts predict that W. R. Berkley will post 5.82 EPS for the current fiscal year.

Hedge Funds Weigh In On W. R. Berkley

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WRB. Bruce G. Allen Investments LLC bought a new position in shares of W. R. Berkley during the 4th quarter valued at $25,000. Glassman Wealth Services boosted its position in W. R. Berkley by 123.1% in the fourth quarter. Glassman Wealth Services now owns 357 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 197 shares during the last quarter. Raleigh Capital Management Inc. increased its position in shares of W. R. Berkley by 132.6% during the 3rd quarter. Raleigh Capital Management Inc. now owns 414 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 236 shares during the last quarter. VisionPoint Advisory Group LLC bought a new position in shares of W. R. Berkley in the 3rd quarter worth approximately $27,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of W. R. Berkley by 563.2% in the first quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider’s stock worth $40,000 after buying an additional 383 shares during the last quarter. 68.82% of the stock is owned by institutional investors.

About W. R. Berkley

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writers worldwide. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines, and specialty personal lines.