W. R. Berkley (NYSE:WRB - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday.
WRB has been the subject of a number of other reports. UBS Group upped their price target on shares of W. R. Berkley from $67.00 to $69.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Royal Bank of Canada lifted their price target on shares of W. R. Berkley from $57.00 to $63.00 and gave the stock a "sector perform" rating in a research report on Tuesday, October 22nd. Wells Fargo & Company cut their price objective on W. R. Berkley from $68.00 to $67.00 and set an "overweight" rating for the company in a research report on Tuesday. Evercore ISI raised their target price on shares of W. R. Berkley from $57.00 to $60.00 and gave the stock an "in-line" rating in a report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods reduced 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 research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, W. R. Berkley currently has an average rating of "Hold" and an average price target of $63.74.
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W. R. Berkley Stock Performance
Shares of NYSE WRB traded up $0.41 during midday trading on Thursday, hitting $60.35. 1,961,262 shares of the company's stock were exchanged, compared to its average volume of 1,668,056. W. R. Berkley has a twelve month low of $48.69 and a twelve month high of $65.49. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market cap of $23.00 billion, a P/E ratio of 15.46, a PEG ratio of 1.00 and a beta of 0.67. The stock's 50 day moving average price is $60.30 and its 200-day moving average price is $58.43.
W. R. Berkley (NYSE:WRB - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The insurance provider reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.01. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.93 billion. W. R. Berkley had a net margin of 11.96% and a return on equity of 20.41%. The business's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 EPS. Equities research analysts anticipate that W. R. Berkley will post 3.95 EPS for the current year.
Institutional Trading of W. R. Berkley
A number of hedge funds have recently bought and sold shares of WRB. Acadian Asset Management LLC raised its holdings in W. R. Berkley by 373.5% in the 2nd quarter. Acadian Asset Management LLC now owns 6,014 shares of the insurance provider's stock valued at $471,000 after acquiring an additional 4,744 shares in the last quarter. American Century Companies Inc. lifted its position in W. R. Berkley by 6.3% in the second quarter. American Century Companies Inc. now owns 351,146 shares of the insurance provider's stock worth $27,593,000 after purchasing an additional 20,687 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of W. R. Berkley by 4.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 835,528 shares of the insurance provider's stock valued at $65,656,000 after acquiring an additional 34,138 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in W. R. Berkley by 2,212.4% during the second quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the insurance provider's stock valued at $278,000 after purchasing an additional 3,385 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of W. R. Berkley by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,037,599 shares of the insurance provider's stock worth $160,128,000 after buying an additional 139,588 shares during the period. 68.82% of the stock is owned by institutional investors.
About W. R. Berkley
(
Get Free Report)
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.
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