W. R. Berkley (NYSE:WRB) Cut to “Strong Sell” at ValuEngine

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W. R. Berkley (NYSE:WRB) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday, ValuEngine reports.

WRB has been the topic of a number of other research reports. Buckingham Research lifted their target price on W. R. Berkley from $63.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Morgan Stanley lifted their target price on W. R. Berkley from $63.00 to $73.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Zacks Investment Research upgraded W. R. Berkley from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Saturday. Royal Bank of Canada lifted their target price on W. R. Berkley to $68.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Finally, Deutsche Bank cut W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 target price on the stock. in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $65.63.

W. R. Berkley stock traded down $3.06 during midday trading on Tuesday, reaching $67.85. The stock had a trading volume of 1,664,868 shares, compared to its average volume of 559,977. W. R. Berkley has a twelve month low of $45.91 and a twelve month high of $73.26. The stock has a market capitalization of $13.03 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.77 and a beta of 0.68. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.48 and a current ratio of 0.48. The stock’s 50-day simple moving average is $71.47 and its 200 day simple moving average is $66.70.

W. R. Berkley (NYSE:WRB) last issued its earnings results on Tuesday, July 23rd. The insurance provider reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.18. W. R. Berkley had a return on equity of 10.55% and a net margin of 8.81%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the firm earned $1.40 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities analysts predict that W. R. Berkley will post 2.85 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in W. R. Berkley by 61.0% in the second quarter. BlackRock Inc. now owns 19,067,342 shares of the insurance provider’s stock valued at $1,257,109,000 after purchasing an additional 7,221,477 shares during the period. Vanguard Group Inc. raised its position in W. R. Berkley by 53.2% in the second quarter. Vanguard Group Inc. now owns 14,922,965 shares of the insurance provider’s stock valued at $983,872,000 after purchasing an additional 5,180,855 shares during the period. Atlanta Capital Management Co. L L C raised its position in W. R. Berkley by 36.3% in the second quarter. Atlanta Capital Management Co. L L C now owns 10,897,169 shares of the insurance provider’s stock valued at $718,450,000 after purchasing an additional 2,899,769 shares during the period. Janus Henderson Group PLC raised its position in W. R. Berkley by 51.4% in the second quarter. Janus Henderson Group PLC now owns 7,106,715 shares of the insurance provider’s stock valued at $468,545,000 after purchasing an additional 2,412,693 shares during the period. Finally, Boston Partners raised its position in W. R. Berkley by 55.3% in the second quarter. Boston Partners now owns 3,861,737 shares of the insurance provider’s stock valued at $254,643,000 after purchasing an additional 1,374,347 shares during the period. 70.69% of the stock is currently owned by institutional investors.

About W. R. Berkley

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

See Also: Buy-Side Analysts

To view ValuEngine’s full report, visit ValuEngine’s official website.

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

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