StockNews.com Upgrades W. R. Berkley (NYSE:WRB) to "Buy"

W. R. Berkley (NYSE:WRB - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a report released on Friday.

Other analysts have also issued reports about the stock. The Goldman Sachs Group raised shares of W. R. Berkley from a "neutral" rating to a "buy" rating and set a $69.00 target price for the company in a research note on Monday, November 25th. Barclays increased their price objective on W. R. Berkley from $50.00 to $52.00 and gave the company an "underweight" rating in a research report on Tuesday, January 28th. UBS Group lifted their target price on W. R. Berkley from $67.00 to $69.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Wells Fargo & Company upped their target price on W. R. Berkley from $67.00 to $70.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. Finally, Morgan Stanley began coverage on W. R. Berkley in a research note on Thursday, December 5th. They issued an "equal weight" rating and a $65.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $64.36.

W. R. Berkley Price Performance

WRB traded up $0.20 during trading on Friday, reaching $60.55. The stock had a trading volume of 1,224,549 shares, compared to its average volume of 1,974,582. W. R. Berkley has a 1-year low of $50.73 and a 1-year high of $65.49. The firm has a market capitalization of $23.07 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.59 and a beta of 0.67. The stock has a 50 day moving average of $59.23 and a two-hundred day moving average of $59.12. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.34.

W. R. Berkley (NYSE:WRB - Get Free Report) last released its earnings results on Monday, January 27th. The insurance provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.18. W. R. Berkley had a return on equity of 20.83% and a net margin of 12.88%. As a group, equities analysts anticipate that W. R. Berkley will post 4.35 EPS for the current fiscal year.

Hedge Funds Weigh In On W. R. Berkley

A number of hedge funds have recently modified their holdings of WRB. Exchange Traded Concepts LLC increased its position in W. R. Berkley by 98.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 15,397 shares of the insurance provider's stock worth $873,000 after purchasing an additional 7,645 shares during the last quarter. Creative Planning grew its stake in shares of W. R. Berkley by 59.3% in the 3rd quarter. Creative Planning now owns 73,973 shares of the insurance provider's stock valued at $4,197,000 after buying an additional 27,539 shares in the last quarter. Swedbank AB increased its holdings in W. R. Berkley by 50.0% in the third quarter. Swedbank AB now owns 14,766 shares of the insurance provider's stock worth $838,000 after buying an additional 4,922 shares during the last quarter. Vontobel Holding Ltd. bought a new position in W. R. Berkley during the third quarter valued at approximately $202,000. Finally, Cornerstone Wealth Management LLC lifted its stake in W. R. Berkley by 50.0% in the third quarter. Cornerstone Wealth Management LLC now owns 4,506 shares of the insurance provider's stock valued at $256,000 after acquiring an additional 1,502 shares during the last quarter. 68.82% of the stock is owned by institutional investors and hedge funds.

About W. R. Berkley

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.