Wells Fargo & Company started coverage on shares of W. R. Berkley (NYSE:WRB) in a research note issued to investors on Wednesday morning, The Fly reports. The firm issued an overweight rating and a $92.00 price target on the insurance provider’s stock.

A number of other brokerages also recently issued reports on WRB. Credit Suisse Group increased their price target on shares of W. R. Berkley from $68.00 to $73.00 and gave the company an outperform rating in a report on Monday, January 11th. The Goldman Sachs Group upgraded shares of W. R. Berkley from a sell rating to a neutral rating and raised their target price for the company from $53.00 to $70.00 in a report on Friday, January 8th. Zacks Investment Research upgraded shares of W. R. Berkley from a hold rating to a buy rating and set a $77.00 target price for the company in a report on Tuesday, March 23rd. UBS Group upgraded shares of W. R. Berkley from a neutral rating to a buy rating and raised their target price for the company from $73.00 to $80.00 in a report on Tuesday, March 2nd. Finally, Morgan Stanley raised their target price on shares of W. R. Berkley from $77.00 to $83.00 and gave the company an equal weight rating in a report on Tuesday, March 30th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. W. R. Berkley has a consensus rating of Buy and a consensus target price of $74.44.

WRB stock opened at $78.58 on Wednesday. W. R. Berkley has a one year low of $45.25 and a one year high of $79.33. The stock has a market capitalization of $13.94 billion, a PE ratio of 43.90, a price-to-earnings-growth ratio of 3.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.45 and a current ratio of 0.45. The company has a fifty day moving average of $73.31 and a 200-day moving average of $66.92.

W. R. Berkley (NYSE:WRB) last released its earnings results on Monday, January 25th. The insurance provider reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.13. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. W. R. Berkley had a net margin of 4.57% and a return on equity of 7.55%. The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business earned $0.62 EPS. Equities analysts forecast that W. R. Berkley will post 2.2 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 24th. Stockholders of record on Wednesday, March 10th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, March 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.61%. W. R. Berkley’s dividend payout ratio (DPR) is presently 15.84%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in shares of W. R. Berkley in the fourth quarter worth $26,000. Vantage Consulting Group Inc bought a new stake in shares of W. R. Berkley in the fourth quarter worth $97,000. Federated Hermes Inc. increased its stake in shares of W. R. Berkley by 6,487.0% in the fourth quarter. Federated Hermes Inc. now owns 1,515 shares of the insurance provider’s stock worth $101,000 after buying an additional 1,492 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of W. R. Berkley by 468.2% in the fourth quarter. Bessemer Group Inc. now owns 1,699 shares of the insurance provider’s stock worth $113,000 after buying an additional 1,400 shares during the last quarter. Finally, Berman Capital Advisors LLC increased its stake in shares of W. R. Berkley by 7.6% in the fourth quarter. Berman Capital Advisors LLC now owns 2,121 shares of the insurance provider’s stock worth $139,000 after buying an additional 149 shares during the last quarter. 71.04% of the stock is currently owned by institutional investors and hedge funds.

W. R. Berkley Company Profile

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and general and professional liability lines.

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Analyst Recommendations for W. R. Berkley (NYSE:WRB)

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