W. R. Berkley (NYSE:WRB) Price Target Raised to $61.00

W. R. Berkley (NYSE:WRB) had its target price increased by equities researchers at Keefe, Bruyette & Woods from $60.00 to $61.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 2.80% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Barclays lowered their target price on shares of W. R. Berkley from $56.00 to $50.00 and set an “underweight” rating on the stock in a report on Monday, January 6th. The Goldman Sachs Group upgraded shares of W. R. Berkley from a “neutral” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Monday, November 25th. Evercore ISI upped their target price on W. R. Berkley from $57.00 to $60.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group increased their price objective on shares of W. R. Berkley from $53.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their target price on shares of W. R. Berkley from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $64.36.

W. R. Berkley Price Performance

W. R. Berkley stock opened at $59.34 on Tuesday. The company has a market capitalization of $22.61 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.04 and a beta of 0.67. The stock’s 50 day moving average is $60.10 and its 200-day moving average is $58.39. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.34. W. R. Berkley has a 12 month low of $50.73 and a 12 month high of $65.49.

W. R. Berkley (NYSE:WRB) last posted its quarterly earnings data on Monday, January 27th. The insurance provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.18. W. R. Berkley had a return on equity of 20.41% and a net margin of 11.96%. Equities research analysts expect that W. R. Berkley will post 3.95 EPS for the current year.

Institutional Investors Weigh In On W. R. Berkley

Several large investors have recently added to or reduced their stakes in WRB. Marshall Wace LLP bought a new position in shares of W. R. Berkley during the 2nd quarter worth approximately $2,330,000. MBB Public Markets I LLC bought a new position in W. R. Berkley during the second quarter worth $1,157,000. Creative Planning increased its stake in W. R. Berkley by 3.3% in the second quarter. Creative Planning now owns 46,434 shares of the insurance provider’s stock valued at $3,649,000 after purchasing an additional 1,471 shares in the last quarter. Quarry LP acquired a new position in shares of W. R. Berkley during the second quarter valued at about $42,000. Finally, Truist Financial Corp boosted its position in shares of W. R. Berkley by 3.4% during the 2nd quarter. Truist Financial Corp now owns 811,844 shares of the insurance provider’s stock worth $63,795,000 after purchasing an additional 26,738 shares in the last quarter. Institutional investors and hedge funds own 68.82% of the company’s stock.

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.