W. R. Berkley (NYSE:WRB) Price Target Raised to $70.00

W. R. Berkley (NYSE:WRB) had its price target upped by Credit Suisse Group from $68.26 to $70.00 in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. Credit Suisse Group currently has an outperform rating on the insurance provider’s stock.

Several other analysts have also recently commented on WRB. Morgan Stanley raised their price objective on shares of W. R. Berkley from $63.00 to $73.00 and gave the company an equal weight rating in a research note on Wednesday, August 14th. Zacks Investment Research upgraded shares of W. R. Berkley from a hold rating to a buy rating and set a $74.00 price objective for the company in a research note on Saturday, October 19th. ValuEngine cut shares of W. R. Berkley from a sell rating to a strong sell rating in a research note on Tuesday, December 3rd. Royal Bank of Canada upgraded shares of W. R. Berkley from a sector perform rating to an outperform rating and raised their price objective for the company from $70.00 to $80.00 in a research note on Thursday, December 5th. Finally, Buckingham Research raised their price objective on shares of W. R. Berkley from $63.00 to $64.00 and gave the company a neutral rating in a research note on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. W. R. Berkley currently has an average rating of Hold and an average target price of $68.96.

Shares of NYSE WRB opened at $69.56 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.38. W. R. Berkley has a 52 week low of $45.91 and a 52 week high of $77.54. The firm has a 50-day moving average price of $68.87 and a 200 day moving average price of $69.00. The stock has a market capitalization of $12.78 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 2.54 and a beta of 0.65.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Tuesday, October 22nd. The insurance provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.18. W. R. Berkley had a net margin of 8.82% and a return on equity of 10.60%. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the business earned $0.84 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts expect that W. R. Berkley will post 3.05 EPS for the current fiscal year.

The firm also recently announced a dividend, which was paid on Wednesday, December 11th. Shareholders of record on Friday, November 22nd were issued a dividend of $0.11 per share. The ex-dividend date was Thursday, November 21st. W. R. Berkley’s dividend payout ratio (DPR) is currently 16.48%.

Large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC purchased a new position in W. R. Berkley during the 2nd quarter valued at about $27,000. Charles Schwab Investment Management Inc. grew its holdings in shares of W. R. Berkley by 54.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 700,734 shares of the insurance provider’s stock worth $46,200,000 after buying an additional 246,417 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of W. R. Berkley by 237.1% during the second quarter. CIBC Asset Management Inc now owns 150,008 shares of the insurance provider’s stock worth $9,890,000 after buying an additional 105,510 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of W. R. Berkley by 30,937.5% during the second quarter. Cubist Systematic Strategies LLC now owns 17,381 shares of the insurance provider’s stock worth $1,146,000 after buying an additional 17,325 shares in the last quarter. Finally, EULAV Asset Management grew its holdings in shares of W. R. Berkley by 63.4% during the second quarter. EULAV Asset Management now owns 67,000 shares of the insurance provider’s stock worth $4,417,000 after buying an additional 26,000 shares in the last quarter. Hedge funds and other institutional investors own 69.73% of the company’s stock.

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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