W. R. Berkley (NYSE:WRB) Rating Reiterated by Royal Bank of Canada

W. R. Berkley (NYSE:WRB)‘s stock had its “sector perform” rating reaffirmed by research analysts at Royal Bank of Canada in a research note issued on Monday, Benzinga reports. They currently have a $86.00 price target on the insurance provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 8.57% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group lowered W. R. Berkley from a “buy” rating to a “neutral” rating and cut their target price for the stock from $88.00 to $83.00 in a research report on Thursday, June 13th. Evercore ISI raised their price objective on shares of W. R. Berkley from $83.00 to $89.00 and gave the stock an “in-line” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods lowered their target price on shares of W. R. Berkley from $88.00 to $86.00 and set a “market perform” rating for the company in a report on Friday, May 3rd. Wells Fargo & Company cut their price target on shares of W. R. Berkley from $99.00 to $94.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 24th. Finally, Truist Financial decreased their price objective on shares of W. R. Berkley from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, W. R. Berkley presently has an average rating of “Hold” and an average price target of $90.44.

W. R. Berkley Stock Up 0.2 %

Shares of NYSE:WRB opened at $79.21 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.36. W. R. Berkley has a fifty-two week low of $57.79 and a fifty-two week high of $89.18. The stock has a market cap of $20.25 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 1.02 and a beta of 0.61. The firm’s 50 day moving average price is $79.09 and its 200 day moving average price is $79.89.

W. R. Berkley’s stock is set to split before the market opens on Wednesday, July 10th. The 3-2 split was announced on Wednesday, June 12th. The newly issued shares will be issued to shareholders after the market closes on Tuesday, July 9th.

W. R. Berkley (NYSE:WRB) last released its quarterly earnings data on Tuesday, April 23rd. The insurance provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.10. The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.77 billion. W. R. Berkley had a net margin of 12.23% and a return on equity of 20.51%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 EPS. As a group, equities research analysts predict that W. R. Berkley will post 5.82 earnings per share for the current fiscal year.

Institutional Trading of W. R. Berkley

Several institutional investors and hedge funds have recently added to or reduced their stakes in WRB. Norges Bank acquired a new position in shares of W. R. Berkley in the fourth quarter valued at approximately $213,635,000. Confluence Investment Management LLC purchased a new position in W. R. Berkley in the 1st quarter valued at $82,706,000. The Manufacturers Life Insurance Company increased its stake in W. R. Berkley by 89.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,904,555 shares of the insurance provider’s stock valued at $134,690,000 after buying an additional 898,027 shares during the period. Maren Capital LLC purchased a new position in W. R. Berkley during the 4th quarter worth $37,915,000. Finally, Morgan Stanley lifted its stake in shares of W. R. Berkley by 4.2% in the 3rd quarter. Morgan Stanley now owns 13,065,224 shares of the insurance provider’s stock worth $829,511,000 after acquiring an additional 529,817 shares during the period. 68.82% of the stock is owned by hedge funds and other institutional investors.

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.