BMO Capital Markets Trims W. R. Berkley (NYSE:WRB) Target Price to $87.00

W. R. Berkley (NYSE:WRB) had its target price lowered by BMO Capital Markets from $93.00 to $87.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a market perform rating on the insurance provider’s stock.

WRB has been the topic of a number of other research reports. Wells Fargo & Company reduced their price target on W. R. Berkley from $99.00 to $94.00 and set an overweight rating on the stock in a research note on Wednesday. The Goldman Sachs Group increased their price target on W. R. Berkley from $86.00 to $95.00 and gave the stock a buy rating in a research note on Friday, April 12th. Truist Financial reduced their price target on W. R. Berkley from $95.00 to $93.00 and set a buy rating on the stock in a research note on Wednesday. UBS Group increased their price target on W. R. Berkley from $81.00 to $93.00 and gave the stock a buy rating in a research note on Tuesday, January 30th. Finally, StockNews.com lowered W. R. Berkley from a buy rating to a hold rating in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $90.63.

W. R. Berkley Price Performance

Shares of NYSE:WRB opened at $76.65 on Wednesday. The business’s fifty day moving average price is $84.26 and its two-hundred day moving average price is $76.31. The stock has a market cap of $19.66 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.47 and a beta of 0.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 0.37. W. R. Berkley has a one year low of $55.50 and a one year high of $89.18.

W. R. Berkley (NYSE:WRB) last issued its quarterly earnings results 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 21.01% and a net margin of 12.23%. The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the company posted $1.00 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts forecast that W. R. Berkley will post 5.89 EPS for the current fiscal year.

W. R. Berkley Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, March 4th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Friday, March 1st. W. R. Berkley’s dividend payout ratio (DPR) is currently 7.80%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WRB. Bruce G. Allen Investments LLC purchased a new position in W. R. Berkley in the fourth quarter valued at about $25,000. Glassman Wealth Services raised its position in W. R. Berkley by 123.1% in the fourth quarter. Glassman Wealth Services now owns 357 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 197 shares during the period. Parkside Financial Bank & Trust raised its position in W. R. Berkley by 106.1% in the third quarter. Parkside Financial Bank & Trust now owns 406 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 209 shares during the period. Raleigh Capital Management Inc. raised its position in W. R. Berkley by 132.6% in the third quarter. Raleigh Capital Management Inc. now owns 414 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 236 shares during the period. Finally, VisionPoint Advisory Group LLC acquired a new stake in shares of W. R. Berkley during the third quarter valued at about $27,000. 68.82% of the stock is owned by hedge funds and other institutional investors.

About W. R. Berkley

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.