Analysts Set W. R. Berkley Co. (WRB) Target Price at $67.86
Shares of W. R. Berkley Co. (NYSE:WRB) have been given a consensus rating of “Hold” by the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $69.14.
WRB has been the topic of several research reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $69.00 price objective on shares of W. R. Berkley in a report on Friday. Boenning Scattergood restated a “hold” rating on shares of W. R. Berkley in a report on Wednesday, July 26th. Zacks Investment Research upgraded shares of W. R. Berkley from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Deutsche Bank AG upped their price objective on shares of W. R. Berkley from $65.00 to $66.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. Finally, Bank of America Corporation increased their target price on shares of W. R. Berkley from $73.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th.
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W. R. Berkley (WRB) traded down $0.04 on Monday, reaching $67.04. 423,690 shares of the company’s stock traded hands, compared to its average volume of 391,491. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.34 and a current ratio of 0.34. W. R. Berkley has a 1 year low of $59.63 and a 1 year high of $73.17. The firm has a market capitalization of $8,190.00, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 3.10 and a beta of 0.92.
W. R. Berkley announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 8th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Wednesday, November 29th. W. R. Berkley’s payout ratio is 13.18%.
Several institutional investors have recently made changes to their positions in WRB. Tower Research Capital LLC TRC raised its stake in W. R. Berkley by 683.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,566 shares of the insurance provider’s stock valued at $108,000 after purchasing an additional 1,366 shares in the last quarter. NEXT Financial Group Inc raised its stake in shares of W. R. Berkley by 243.9% during the second quarter. NEXT Financial Group Inc now owns 1,809 shares of the insurance provider’s stock worth $125,000 after acquiring an additional 1,283 shares in the last quarter. IFP Advisors Inc raised its stake in shares of W. R. Berkley by 6.9% during the second quarter. IFP Advisors Inc now owns 2,207 shares of the insurance provider’s stock worth $153,000 after acquiring an additional 143 shares in the last quarter. Massey Quick Simon & CO. LLC purchased a new position in shares of W. R. Berkley during the third quarter worth approximately $175,000. Finally, Parametrica Management Ltd purchased a new position in shares of W. R. Berkley during the second quarter worth approximately $203,000. 70.49% of the stock is currently owned by hedge funds and other institutional investors.
W. R. Berkley Company Profile
W. R. Berkley Corporation is an insurance holding company. It operates through two segments: Insurance and Reinsurance-Global. The Insurance segment consists of its commercial insurance business operations, comprising excess and surplus lines, and admitted lines, throughout the United States, as well as its insurance business operations in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.
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