Truist Financial Forecasts Strong Price Appreciation for W.R. Berkley (NYSE:WRB) Stock

W.R. Berkley (NYSE:WRBGet Free Report) had its price objective boosted by Truist Financial from $78.00 to $83.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the insurance provider’s stock. Truist Financial’s price objective points to a potential upside of 13.00% from the stock’s current price.

Several other equities analysts have also commented on the company. UBS Group set a $68.00 target price on W.R. Berkley and gave the company a “neutral” rating in a research note on Monday, April 27th. Wall Street Zen upgraded W.R. Berkley from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Brean Capital downgraded shares of W.R. Berkley from a “buy” rating to a “neutral” rating and set a $73.00 price objective for the company. in a research note on Wednesday, March 25th. Wolfe Research cut shares of W.R. Berkley from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Finally, The Goldman Sachs Group raised shares of W.R. Berkley from a “neutral” rating to a “buy” rating and increased their price target for the stock from $71.00 to $73.00 in a research note on Monday, June 8th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $70.39.

View Our Latest Stock Report on W.R. Berkley

W.R. Berkley Trading Up 1.0%

NYSE WRB traded up $0.72 during mid-day trading on Tuesday, reaching $73.45. 1,325,674 shares of the stock were exchanged, compared to its average volume of 2,216,509. W.R. Berkley has a 1-year low of $62.87 and a 1-year high of $78.96. The business’s fifty day simple moving average is $68.61 and its 200 day simple moving average is $68.34. The stock has a market capitalization of $27.34 billion, a PE ratio of 15.57, a PEG ratio of 3.39 and a beta of 0.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.36 and a current ratio of 0.36.

W.R. Berkley (NYSE:WRBGet Free Report) last issued its quarterly earnings results on Monday, July 20th. The insurance provider reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.18. W.R. Berkley had a return on equity of 18.92% and a net margin of 12.64%.The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the previous year, the firm posted $1.05 EPS. W.R. Berkley’s revenue was up 2.4% on a year-over-year basis. On average, research analysts anticipate that W.R. Berkley will post 4.66 earnings per share for the current fiscal year.

Institutional Trading of W.R. Berkley

Several large investors have recently added to or reduced their stakes in WRB. Butensky & Cohen Financial Security Inc. lifted its stake in shares of W.R. Berkley by 1.2% during the second quarter. Butensky & Cohen Financial Security Inc. now owns 80,208 shares of the insurance provider’s stock worth $5,657,000 after purchasing an additional 917 shares in the last quarter. Tema ETFs LLC boosted its holdings in W.R. Berkley by 10.5% in the 2nd quarter. Tema ETFs LLC now owns 19,910 shares of the insurance provider’s stock worth $1,404,000 after acquiring an additional 1,885 shares during the period. E. Ohman J or Asset Management AB grew its position in W.R. Berkley by 42.8% in the second quarter. E. Ohman J or Asset Management AB now owns 9,347 shares of the insurance provider’s stock valued at $659,000 after acquiring an additional 2,800 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of W.R. Berkley by 14.8% during the second quarter. Handelsbanken Fonder AB now owns 81,300 shares of the insurance provider’s stock worth $5,734,000 after purchasing an additional 10,487 shares in the last quarter. Finally, Sage Capital Advisors llc lifted its position in shares of W.R. Berkley by 1.2% during the second quarter. Sage Capital Advisors llc now owns 20,768 shares of the insurance provider’s stock worth $1,465,000 after purchasing an additional 250 shares in the last quarter. 68.82% of the stock is currently owned by institutional investors and hedge funds.

Key W.R. Berkley News

Here are the key news stories impacting W.R. Berkley this week:

About W.R. Berkley

(Get Free Report)

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.

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

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