Analysts Set W. R. Berkley Corp (WRB) PT at $69.33

W. R. Berkley Corp (NYSE:WRB) has been given an average recommendation of “Hold” by the eleven ratings firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $69.33.

A number of research analysts recently issued reports on the stock. Boenning Scattergood restated a “hold” rating on shares of W. R. Berkley in a research report on Wednesday. Zacks Investment Research downgraded shares of W. R. Berkley from a “hold” rating to a “sell” rating in a research report on Saturday, June 30th. Goldman Sachs Group assumed coverage on shares of W. R. Berkley in a research report on Monday, June 18th. They set a “sell” rating and a $74.00 target price for the company. They noted that the move was a valuation call. ValuEngine downgraded shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Monday, June 18th. Finally, Bank of America downgraded shares of W. R. Berkley from a “neutral” rating to an “underperform” rating and set a $74.00 target price for the company. in a research report on Thursday, June 14th. They noted that the move was a valuation call.

NYSE WRB traded down $0.69 on Friday, reaching $75.41. 291,418 shares of the company’s stock traded hands, compared to its average volume of 386,517. The company has a market capitalization of $9.04 billion, a PE ratio of 30.65, a P/E/G ratio of 2.27 and a beta of 0.82. W. R. Berkley has a fifty-two week low of $62.00 and a fifty-two week high of $79.74. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.36 and a quick ratio of 0.36.

W. R. Berkley (NYSE:WRB) last posted its earnings results on Tuesday, July 24th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.15. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. W. R. Berkley had a net margin of 8.54% and a return on equity of 7.25%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.85 earnings per share. research analysts expect that W. R. Berkley will post 3.64 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 5th. Shareholders of record on Friday, June 15th were issued a $0.15 dividend. This is a boost from W. R. Berkley’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, June 14th. This represents a $0.60 dividend on an annualized basis and a yield of 0.80%. W. R. Berkley’s payout ratio is presently 24.39%.

In other W. R. Berkley news, EVP James G. Shiel sold 22,000 shares of W. R. Berkley stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $77.04, for a total value of $1,694,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System increased its stake in shares of W. R. Berkley by 3.2% during the second quarter. Louisiana State Employees Retirement System now owns 26,000 shares of the insurance provider’s stock worth $1,883,000 after purchasing an additional 800 shares in the last quarter. America First Investment Advisors LLC increased its stake in shares of W. R. Berkley by 0.4% during the second quarter. America First Investment Advisors LLC now owns 194,399 shares of the insurance provider’s stock worth $14,076,000 after purchasing an additional 807 shares in the last quarter. Mason Street Advisors LLC increased its stake in shares of W. R. Berkley by 1.7% during the first quarter. Mason Street Advisors LLC now owns 48,227 shares of the insurance provider’s stock worth $3,506,000 after purchasing an additional 824 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of W. R. Berkley by 8.6% during the first quarter. Xact Kapitalforvaltning AB now owns 10,393 shares of the insurance provider’s stock worth $756,000 after purchasing an additional 825 shares in the last quarter. Finally, Meadow Creek Investment Management LLC increased its stake in shares of W. R. Berkley by 15.7% during the fourth quarter. Meadow Creek Investment Management LLC now owns 6,128 shares of the insurance provider’s stock worth $439,000 after purchasing an additional 832 shares in the last quarter. 71.81% of the stock is owned by institutional investors.

W. R. Berkley Company Profile

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.

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

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