W. R. Berkley (NYSE:WRB) Downgraded by Wall Street Zen to “Hold”

W. R. Berkley (NYSE:WRB) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other research analysts have also weighed in on WRB. Truist Financial upped their target price on W. R. Berkley from $68.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, April 3rd. Morgan Stanley upped their target price on W. R. Berkley from $63.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday. Wells Fargo & Company upped their target price on W. R. Berkley from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. Jefferies Financial Group upped their target price on W. R. Berkley from $57.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Finally, UBS Group upped their target price on W. R. Berkley from $73.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $70.64.

W. R. Berkley Stock Down 1.4%

NYSE:WRB opened at $72.17 on Wednesday. The firm has a market capitalization of $27.38 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.56 and a beta of 0.44. W. R. Berkley has a 1-year low of $51.17 and a 1-year high of $76.38. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.34. The business’s fifty day moving average price is $69.33 and its 200 day moving average price is $63.58.

W. R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Monday, April 21st. The insurance provider reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.07). The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.01 billion. W. R. Berkley had a net margin of 12.88% and a return on equity of 20.83%. On average, sell-side analysts forecast that W. R. Berkley will post 4.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Optiver Holding B.V. increased its holdings in shares of W. R. Berkley by 107.3% during the 4th quarter. Optiver Holding B.V. now owns 427 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 221 shares during the last quarter. Spectrum Wealth Counsel LLC bought a new stake in W. R. Berkley during the 1st quarter valued at approximately $29,000. Garde Capital Inc. bought a new stake in W. R. Berkley during the 1st quarter valued at approximately $30,000. Whipplewood Advisors LLC bought a new stake in W. R. Berkley during the 4th quarter valued at approximately $35,000. Finally, N.E.W. Advisory Services LLC bought a new stake in W. R. Berkley during the 1st quarter valued at approximately $36,000. 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.