W.R. Berkley Corporation (NYSE:WRB) Given Consensus Rating of “Reduce” by Analysts

W.R. Berkley Corporation (NYSE:WRB) has been assigned an average rating of “Reduce” from the eighteen analysts that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $68.8125.

WRB has been the subject of a number of research analyst reports. Cantor Fitzgerald downgraded W.R. Berkley from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $75.00 to $71.00 in a research report on Thursday, April 9th. BMO Capital Markets raised W.R. Berkley from an “underperform” rating to a “market perform” rating and increased their price target for the company from $64.00 to $68.00 in a research report on Thursday, April 23rd. Keefe, Bruyette & Woods decreased their price target on W.R. Berkley from $74.00 to $66.00 and set a “market perform” rating for the company in a research report on Wednesday, April 1st. UBS Group set a $68.00 price target on W.R. Berkley and gave the company a “neutral” rating in a research report on Monday, April 27th. Finally, Weiss Ratings raised W.R. Berkley from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th.

Insider Activity at W.R. Berkley

In other news, major shareholder Sumitomo Insurance Co L. Mitsui acquired 112,176 shares of W.R. Berkley stock in a transaction on Tuesday, March 3rd. The stock was acquired 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 approximately $4,243,948,490. This trade represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 2,183,798 shares of company stock worth $155,530,321 over the last three months. Company insiders own 23.30% of the company’s stock.

Hedge Funds Weigh In On W.R. Berkley

Several institutional investors and hedge funds have recently bought and sold shares of the company. Johnson Financial Group Inc. grew its holdings in W.R. Berkley by 22.3% during the third quarter. Johnson Financial Group Inc. now owns 756 shares of the insurance provider’s stock valued at $58,000 after purchasing an additional 138 shares during the period. Maridea Wealth Management LLC grew its holdings in W.R. Berkley by 2.0% during the third quarter. Maridea Wealth Management LLC now owns 7,180 shares of the insurance provider’s stock valued at $528,000 after purchasing an additional 141 shares during the period. Inspire Advisors LLC grew its holdings in W.R. Berkley by 1.0% during the fourth quarter. Inspire Advisors LLC now owns 14,364 shares of the insurance provider’s stock valued at $1,007,000 after purchasing an additional 144 shares during the period. Physician Wealth Advisors Inc. grew its holdings in W.R. Berkley by 40.2% during the third quarter. Physician Wealth Advisors Inc. now owns 523 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 150 shares during the period. Finally, Valeo Financial Advisors LLC grew its holdings in W.R. Berkley by 3.3% during the third quarter. Valeo Financial Advisors LLC now owns 4,788 shares of the insurance provider’s stock valued at $367,000 after purchasing an additional 151 shares during the period. 68.82% of the stock is owned by institutional investors.

W.R. Berkley Stock Up 0.5%

Shares of NYSE:WRB opened at $66.38 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.29. The stock has a market cap of $24.71 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 3.16 and a beta of 0.33. The business’s 50 day moving average is $66.68 and its 200 day moving average is $69.67. W.R. Berkley has a 12-month low of $63.67 and a 12-month high of $78.96.

W.R. Berkley (NYSE:WRB) last issued its quarterly earnings results on Tuesday, April 21st. The insurance provider reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.17. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.18 billion. W.R. Berkley had a return on equity of 18.92% and a net margin of 12.64%.W.R. Berkley’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business posted $1.01 earnings per share. On average, sell-side analysts forecast that W.R. Berkley will post 4.66 earnings per share for the current fiscal year.

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.