W. R. Berkley (NYSE:WRB) Given New $68.00 Price Target at Wells Fargo & Company

W. R. Berkley (NYSE:WRB) had its price objective hoisted by equities researchers at Wells Fargo & Company from $63.00 to $68.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 15.00% from the company’s current price.

WRB has been the subject of several other research reports. StockNews.com cut W. R. Berkley from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Barclays began coverage on W. R. Berkley in a report on Wednesday, September 4th. They issued an “underweight” rating and a $56.00 target price on the stock. Keefe, Bruyette & Woods lowered their price target on shares of W. R. Berkley from $59.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday. TD Cowen started coverage on shares of W. R. Berkley in a research note on Monday, July 1st. They issued a “buy” rating and a $68.67 price objective on the stock. Finally, Truist Financial lifted their target price on shares of W. R. Berkley from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $63.08.

W. R. Berkley Stock Up 1.0 %

NYSE:WRB opened at $59.13 on Tuesday. W. R. Berkley has a one year low of $43.20 and a one year high of $61.96. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market cap of $22.68 billion, a PE ratio of 15.73, a P/E/G ratio of 1.07 and a beta of 0.62. The firm’s 50 day simple moving average is $58.32 and its 200 day simple moving average is $55.57.

W. R. Berkley (NYSE:WRB) last issued its quarterly earnings results on Monday, October 21st. The insurance provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.93 billion. W. R. Berkley had a net margin of 12.05% and a return on equity of 21.34%. W. R. Berkley’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, research analysts anticipate that W. R. Berkley will post 4.02 earnings per share for the current year.

Institutional Trading of W. R. Berkley

A number of hedge funds and other institutional investors have recently bought and sold shares of WRB. Sound Income Strategies LLC raised its stake in shares of W. R. Berkley by 563.2% in the first quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 383 shares during the last quarter. Quarry LP purchased a new stake in W. R. Berkley in the 2nd quarter valued at $42,000. Covestor Ltd lifted its stake in W. R. Berkley by 173.0% during the 1st quarter. Covestor Ltd now owns 546 shares of the insurance provider’s stock valued at $48,000 after acquiring an additional 346 shares in the last quarter. Kiely Wealth Advisory Group Inc. boosted its holdings in W. R. Berkley by 49.9% during the 2nd quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 193 shares during the last quarter. Finally, Armstrong Advisory Group Inc. grew its stake in shares of W. R. Berkley by 51.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 209 shares in the last quarter. Institutional investors 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.