W. R. Berkley (NYSE:WRB) PT Lowered to $59.00 at Wells Fargo & Company

W. R. Berkley (NYSE:WRB) had its price objective reduced by stock analysts at Wells Fargo & Company from $62.00 to $59.00 in a report released on Tuesday, July 23rd, Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 7.80% from the stock’s current price.

A number of other equities research analysts have also issued reports on WRB. The Goldman Sachs Group lowered W. R. Berkley from a “buy” rating to a “neutral” rating and dropped their price target for the company from $58.67 to $55.33 in a research report on Thursday, June 13th. Evercore ISI boosted their price target on shares of W. R. Berkley from $55.33 to $59.33 and gave the company an “in-line” rating in a research report on Thursday, April 11th. StockNews.com upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating in a research report on Tuesday, July 16th. Royal Bank of Canada restated a “sector perform” rating and set a $57.33 price target on shares of W. R. Berkley in a report on Monday, July 1st. Finally, Keefe, Bruyette & Woods decreased their price objective on W. R. Berkley from $58.67 to $57.33 and set a “market perform” rating on the stock in a report on Friday, May 3rd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.07.

W. R. Berkley Stock Performance

WRB traded down $0.45 on Tuesday, reaching $54.73. The stock had a trading volume of 2,092,296 shares, compared to its average volume of 1,798,606. W. R. Berkley has a 12-month low of $40.25 and a 12-month high of $59.46. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.36. The company has a market cap of $20.99 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 1.02 and a beta of 0.61. The business’s 50-day moving average price is $54.33 and its two-hundred day moving average price is $54.58.

W. R. Berkley (NYSE:WRB) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.12. W. R. Berkley had a net margin of 12.05% and a return on equity of 21.62%. The business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the firm posted $1.14 earnings per share. The company’s revenue was up 10.6% compared to the same quarter last year. Sell-side analysts forecast that W. R. Berkley will post 3.99 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Glassman Wealth Services lifted its holdings in W. R. Berkley by 123.1% during the 4th quarter. Glassman Wealth Services now owns 357 shares of the insurance provider’s stock worth $25,000 after buying an additional 197 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in W. R. Berkley by 563.2% in the first quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 383 shares in the last quarter. Lindbrook Capital LLC increased its stake in W. R. Berkley by 70.6% in the fourth quarter. Lindbrook Capital LLC now owns 580 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 240 shares during the last quarter. Intelligent Financial Strategies acquired a new position in shares of W. R. Berkley in the 1st quarter valued at $44,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in W. R. Berkley during the 4th quarter worth $48,000. 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.