W. R. Berkley (NYSE:WRB) Price Target Raised to $64.00 at Truist Financial

W. R. Berkley (NYSE:WRB) had its price target upped by equities research analysts at Truist Financial from $62.00 to $64.00 in a research report issued to clients and investors on Tuesday, July 23rd, Benzinga reports. The brokerage presently has a “buy” rating on the insurance provider’s stock. Truist Financial’s price objective points to a potential upside of 16.94% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. Evercore ISI increased their price objective on shares of W. R. Berkley from $55.33 to $59.33 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods cut their price target on shares of W. R. Berkley from $58.67 to $57.33 and set a “market perform” rating for the company in a research note on Friday, May 3rd. Wells Fargo & Company cut their target price on W. R. Berkley from $62.00 to $59.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. The Goldman Sachs Group downgraded shares of W. R. Berkley from a “buy” rating to a “neutral” rating and reduced their target price for the company from $58.67 to $55.33 in a research note on Thursday, June 13th. Finally, StockNews.com raised shares of W. R. Berkley from a “hold” rating to a “buy” rating in a report on Tuesday, July 16th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, W. R. Berkley has a consensus rating of “Hold” and a consensus target price of $60.07.

W. R. Berkley Stock Performance

NYSE:WRB traded down $0.45 during mid-day trading on Tuesday, hitting $54.73. 2,092,296 shares of the company’s stock traded hands, compared to its average volume of 1,798,606. W. R. Berkley has a 12 month low of $40.25 and a 12 month high of $59.46. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $20.99 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 1.02 and a beta of 0.61. The firm has a 50 day moving average of $54.33 and a two-hundred day moving average of $54.58.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.12. The business had revenue of $3.31 billion during the quarter, compared to analyst estimates of $2.84 billion. W. R. Berkley had a net margin of 12.05% and a return on equity of 21.62%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. On average, equities analysts forecast that W. R. Berkley will post 3.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. National Bank of Canada FI boosted its stake in shares of W. R. Berkley by 6.7% in the 2nd quarter. National Bank of Canada FI now owns 113,724 shares of the insurance provider’s stock valued at $8,980,000 after purchasing an additional 7,164 shares during the last quarter. Chase Investment Counsel Corp lifted its holdings in shares of W. R. Berkley by 27.9% in the second quarter. Chase Investment Counsel Corp now owns 22,912 shares of the insurance provider’s stock valued at $1,800,000 after purchasing an additional 4,994 shares in the last quarter. Nicholas Hoffman & Company LLC. bought a new stake in shares of W. R. Berkley in the second quarter valued at about $201,000. TD Asset Management Inc lifted its holdings in shares of W. R. Berkley by 6.2% in the second quarter. TD Asset Management Inc now owns 462,207 shares of the insurance provider’s stock valued at $36,320,000 after purchasing an additional 27,090 shares in the last quarter. Finally, Strategy Asset Managers LLC bought a new stake in shares of W. R. Berkley in the second quarter valued at about $571,000. Institutional investors own 68.82% of the company’s stock.

W. R. Berkley Company Profile

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.