W. R. Berkley’s (WRB) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

W. R. Berkley (NYSE:WRBGet Free Report)‘s stock had its “sector perform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They presently have a $63.00 target price on the insurance provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 7.35% from the stock’s previous close.

A number of other analysts have also issued reports on WRB. Wells Fargo & Company lifted their price target on shares of W. R. Berkley from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday. Morgan Stanley started coverage on shares of W. R. Berkley in a research report on Thursday, December 5th. They set an “equal weight” rating and a $65.00 price target for the company. Bank of America boosted their price target on W. R. Berkley from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. UBS Group increased their price objective on shares of W. R. Berkley from $67.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group boosted their price target on shares of W. R. Berkley from $53.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, W. R. Berkley has a consensus rating of “Hold” and a consensus price target of $64.36.

Check Out Our Latest Analysis on W. R. Berkley

W. R. Berkley Price Performance

NYSE:WRB opened at $58.69 on Tuesday. W. R. Berkley has a 12-month low of $50.73 and a 12-month high of $65.49. The company’s 50-day moving average is $60.05 and its two-hundred day moving average is $58.48. The firm has a market cap of $22.36 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.04 and a beta of 0.67. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.34.

W. R. Berkley (NYSE:WRBGet Free Report) last issued its quarterly earnings data on Monday, January 27th. The insurance provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.18. W. R. Berkley had a return on equity of 20.41% and a net margin of 11.96%. Research analysts expect that W. R. Berkley will post 3.95 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WRB. Marshall Wace LLP acquired a new position in shares of W. R. Berkley during the 2nd quarter worth approximately $2,330,000. MBB Public Markets I LLC bought a new stake in shares of W. R. Berkley in the second quarter worth $1,157,000. Creative Planning raised its holdings in W. R. Berkley by 3.3% during the 2nd quarter. Creative Planning now owns 46,434 shares of the insurance provider’s stock worth $3,649,000 after purchasing an additional 1,471 shares during the last quarter. Quarry LP acquired a new position in shares of W. R. Berkley in the 2nd quarter valued at about $42,000. Finally, Truist Financial Corp increased its stake in W. R. Berkley by 3.4% in the second quarter. Truist Financial Corp now owns 811,844 shares of the insurance provider’s stock valued at $63,795,000 after purchasing an additional 26,738 shares in the last quarter. 68.82% of the stock is owned by institutional investors and hedge funds.

About W. R. Berkley

(Get Free Report)

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.

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

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