W.R. Berkley (NYSE:WRB) Price Target Cut to $66.00 by Analysts at Keefe, Bruyette & Woods

W.R. Berkley (NYSE:WRB) had its target price decreased by stock analysts at Keefe, Bruyette & Woods from $74.00 to $66.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 0.34% from the stock’s previous close.

WRB has been the topic of several other reports. Wells Fargo & Company lowered their target price on W.R. Berkley from $68.00 to $66.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 27th. Argus lowered their price objective on W.R. Berkley from $82.00 to $76.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Wall Street Zen downgraded W.R. Berkley from a “hold” rating to a “sell” rating in a research note on Sunday. Morgan Stanley set a $73.00 price target on shares of W.R. Berkley in a research note on Wednesday, January 28th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $73.00 price objective on shares of W.R. Berkley in a research note on Wednesday, January 7th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $69.25.

W.R. Berkley Price Performance

WRB traded down $0.50 on Wednesday, hitting $65.78. 358,902 shares of the company’s stock were exchanged, compared to its average volume of 2,324,568. W.R. Berkley has a fifty-two week low of $62.63 and a fifty-two week high of $78.96. The stock has a market cap of $24.63 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 2.59 and a beta of 0.35. The firm has a 50-day moving average price of $68.87 and a 200-day moving average price of $71.57. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.29.

W.R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Monday, January 26th. The insurance provider reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.01). W.R. Berkley had a return on equity of 18.17% and a net margin of 12.10%.The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the prior year, the business posted $1.13 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities analysts anticipate that W.R. Berkley will post 4.33 earnings per share for the current year.

Insider Buying and Selling at W.R. Berkley

In other news, major shareholder Sumitomo Insurance Co L. Mitsui bought 112,176 shares of W.R. Berkley stock in a transaction on Tuesday, March 3rd. The stock was purchased at an average cost of $72.20 per share, with a total value of $8,099,107.20. Following the purchase, the insider directly owned 58,780,450 shares of the company’s stock, valued at approximately $4,243,948,490. This trade represents a 0.19% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have bought 8,213,939 shares of company stock valued at $567,385,262. 23.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On W.R. Berkley

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Compass Financial Services Inc acquired a new stake in W.R. Berkley in the third quarter worth about $26,000. Entrust Financial LLC bought a new stake in W.R. Berkley during the fourth quarter worth approximately $25,000. Hazlett Burt & Watson Inc. grew its position in W.R. Berkley by 140.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 210 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in W.R. Berkley during the second quarter valued at approximately $27,000. Finally, DV Equities LLC bought a new position in shares of W.R. Berkley in the fourth quarter valued at approximately $29,000. 68.82% of the stock is currently owned by institutional investors and hedge funds.

W.R. Berkley Company Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.