W. R. Berkley (WRB) Receives New Coverage from Analysts at Credit Suisse Group

Credit Suisse Group started coverage on shares of W. R. Berkley (NYSE:WRB) in a research report released on Tuesday, August 7th, MarketBeat reports. The firm issued a neutral rating and a $78.00 target price on the insurance provider’s stock.

Several other analysts have also commented on WRB. ValuEngine upgraded shares of W. R. Berkley from a hold rating to a buy rating in a research report on Thursday, April 26th. Boenning Scattergood reiterated a hold rating on shares of W. R. Berkley in a research report on Wednesday, April 25th. Zacks Investment Research upgraded shares of W. R. Berkley from a sell rating to a hold rating in a research report on Friday, April 27th. Bank of America lowered shares of W. R. Berkley from a neutral rating to an underperform rating and set a $74.00 target price on the stock. in a research report on Thursday, June 14th. They noted that the move was a valuation call. Finally, Goldman Sachs Group assumed coverage on shares of W. R. Berkley in a research report on Monday, June 18th. They issued a sell rating and a $74.00 target price on the stock. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $71.63.

Shares of NYSE:WRB traded up $0.12 during midday trading on Tuesday, reaching $78.26. The company’s stock had a trading volume of 387,400 shares, compared to its average volume of 364,350. The firm has a market capitalization of $9.60 billion, a P/E ratio of 31.78, a PEG ratio of 2.34 and a beta of 0.84. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.37 and a quick ratio of 0.37. W. R. Berkley has a twelve month low of $62.00 and a twelve month high of $79.74.

W. R. Berkley (NYSE:WRB) last released its quarterly earnings results on Tuesday, July 24th. The insurance provider reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.15. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates 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 revenue was up .8% on a year-over-year basis. During the same quarter last year, the business earned $0.85 earnings per share. equities analysts anticipate that W. R. Berkley will post 3.71 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Wednesday, September 19th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Tuesday, September 18th. W. R. Berkley’s dividend payout ratio is currently 24.39%.

In other news, EVP James G. Shiel sold 22,000 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available through this link. Company insiders own 22.20% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Squar Milner Financial Services LLC purchased a new position in W. R. Berkley during the second quarter worth about $114,000. Northwestern Mutual Wealth Management Co. raised its stake in W. R. Berkley by 75.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,701 shares of the insurance provider’s stock worth $123,000 after purchasing an additional 729 shares during the period. Optimum Investment Advisors purchased a new position in W. R. Berkley during the first quarter worth about $127,000. Natixis purchased a new position in W. R. Berkley during the first quarter worth about $205,000. Finally, Alps Advisors Inc. purchased a new position in W. R. Berkley during the second quarter worth about $207,000. 72.63% of the stock is currently owned by institutional investors.

About W. R. Berkley

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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