W.R. Berkley Corporation (NYSE:WRB) Receives $70.44 Average Target Price from Brokerages

Shares of W.R. Berkley Corporation (NYSE:WRB) have been given an average rating of “Reduce” by the eighteen research firms that are currently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $70.4444.

Several analysts have recently weighed in on the stock. Truist Financial raised their price objective on shares of W.R. Berkley from $78.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Mizuho upped their target price on shares of W.R. Berkley from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. UBS Group set a $68.00 target price on W.R. Berkley and gave the company a “neutral” rating in a research note on Monday, April 27th. Weiss Ratings lowered W.R. Berkley from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. Finally, Wolfe Research lowered W.R. Berkley from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st.

W.R. Berkley News Summary

Here are the key news stories impacting W.R. Berkley this week:

• Positive Sentiment: WRB is being highlighted as a top long-term momentum stock, with coverage pointing to strong style scores and market-beating characteristics that can support investor demand. Article Title
• Positive Sentiment: Analysts and market commentary are reacting favorably to W.R. Berkley’s Q2 results, with reports saying the earnings beat and ongoing share buybacks are reinforcing the bull case and leading some firms to raise price targets. Article Title
• Positive Sentiment: WRB is also being described as a strong value stock and a portfolio “ballast,” which may appeal to investors looking for quality, defensive exposure in property and casualty insurance. Article Title
• Neutral Sentiment: One report compares W.R. Berkley with Allstate on value metrics, which is more of a relative-stock-selection piece than a clear catalyst for the shares. Article Title
• Neutral Sentiment: Another article notes that W.R. Berkley’s baby bonds offer 7%+ yields at investment-grade risk, which supports the company’s credit profile but is unlikely to move the common stock materially on its own. Article Title
• Negative Sentiment: There is some caution in the analyst community, as one report says W.R. Berkley currently carries an average rating of “Reduce,” suggesting valuation or upside concerns remain. Article Title

W.R. Berkley Stock Up 0.0%

WRB stock opened at $75.48 on Friday. The company’s 50 day moving average is $69.20 and its 200 day moving average is $68.43. The stock has a market cap of $28.10 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 3.51 and a beta of 0.29. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.29. W.R. Berkley has a 1-year low of $62.87 and a 1-year high of $78.96.

W.R. Berkley (NYSE:WRB) last announced its earnings results on Monday, July 20th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.19. W.R. Berkley had a net margin of 12.94% and a return on equity of 19.49%. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same period in the previous year, the business posted $1.05 earnings per share. W.R. Berkley’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts predict that W.R. Berkley will post 4.75 EPS for the current fiscal year.

W.R. Berkley Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 23rd were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. This is a boost from W.R. Berkley’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, June 23rd. W.R. Berkley’s payout ratio is 8.21%.

Institutional Investors Weigh In On W.R. Berkley

A number of institutional investors have recently made changes to their positions in WRB. Entrust Financial LLC bought a new stake in W.R. Berkley in the fourth quarter worth $25,000. Hazlett Burt & Watson Inc. grew its stake in shares of 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 buying an additional 210 shares during the last quarter. Allied Private Wealth LLC bought a new position in shares of W.R. Berkley during the second quarter valued at about $29,000. DV Equities LLC purchased a new position in shares of W.R. Berkley in the fourth quarter worth about $29,000. Finally, Triumph Capital Management bought a new stake in shares of W.R. Berkley in the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.

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.