W. R. Berkley (NYSE:WRB) Price Target Lowered to $93.00 at Truist Financial

W. R. Berkley (NYSE:WRB) had its target price decreased by Truist Financial from $95.00 to $93.00 in a research note released on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the insurance provider’s stock.

Other analysts have also recently issued reports about the company. Wells Fargo & Company increased their price objective on W. R. Berkley from $92.00 to $99.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. BMO Capital Markets increased their price objective on W. R. Berkley from $71.00 to $81.00 and gave the stock a market perform rating in a research report on Friday, January 26th. StockNews.com cut W. R. Berkley from a buy rating to a hold rating in a report on Thursday, April 11th. The Goldman Sachs Group raised their price target on W. R. Berkley from $86.00 to $95.00 and gave the company a buy rating in a report on Friday, April 12th. Finally, Keefe, Bruyette & Woods raised their price target on W. R. Berkley from $85.00 to $88.00 and gave the company a market perform rating in a report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $90.63.

W. R. Berkley Trading Down 1.6 %

NYSE:WRB opened at $77.85 on Wednesday. The stock’s 50 day moving average price is $84.47 and its 200 day moving average price is $76.21. The company has a market capitalization of $19.97 billion, a PE ratio of 15.39, a P/E/G ratio of 1.56 and a beta of 0.57. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.38. W. R. Berkley has a 52-week low of $55.50 and a 52-week high of $89.18.

W. R. Berkley (NYSE:WRB) last posted its quarterly earnings data on Tuesday, April 23rd. The insurance provider reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. W. R. Berkley had a return on equity of 19.03% and a net margin of 11.38%. The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period last year, the firm earned $1.00 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts anticipate that W. R. Berkley will post 5.94 EPS for the current year.

W. R. Berkley Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, March 4th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.57%. The ex-dividend date was Friday, March 1st. W. R. Berkley’s payout ratio is currently 8.70%.

Hedge Funds Weigh In On W. R. Berkley

Hedge funds have recently bought and sold shares of the company. EULAV Asset Management increased its stake in W. R. Berkley by 4.4% in the 3rd quarter. EULAV Asset Management now owns 945,260 shares of the insurance provider’s stock valued at $60,015,000 after purchasing an additional 39,716 shares in the last quarter. International Assets Investment Management LLC purchased a new position in W. R. Berkley during the fourth quarter worth $8,970,000. NatWest Group plc purchased a new position in W. R. Berkley during the fourth quarter worth $8,791,000. Financial Strategies Group Inc. increased its position in W. R. Berkley by 29.6% during the fourth quarter. Financial Strategies Group Inc. now owns 53,112 shares of the insurance provider’s stock worth $4,126,000 after buying an additional 12,140 shares in the last quarter. Finally, Cerity Partners LLC increased its position in W. R. Berkley by 11.7% during the fourth quarter. Cerity Partners LLC now owns 185,251 shares of the insurance provider’s stock worth $13,101,000 after buying an additional 19,408 shares in the last quarter. 68.82% of the stock is owned by hedge funds and other institutional investors.

W. R. Berkley Company Profile

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writers worldwide. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines, and specialty personal lines.