W. R. Berkley (NYSE:WRB) Price Target Raised to $70.00 at Wells Fargo & Company

W. R. Berkley (NYSE:WRB) had its target price upped by analysts at Wells Fargo & Company from $69.00 to $70.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 1.75% from the company’s previous close.

WRB has been the subject of several other research reports. StockNews.com downgraded shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Jefferies Financial Group lifted their target price on W. R. Berkley from $57.00 to $66.00 and gave the stock a “hold” rating in a report on Friday, April 11th. Barclays increased their price objective on W. R. Berkley from $52.00 to $62.00 and gave the company an “underweight” rating in a research report on Friday, April 11th. Bank of America reissued a “neutral” rating and issued a $74.00 target price (up previously from $73.00) on shares of W. R. Berkley in a research report on Tuesday, April 1st. Finally, Truist Financial raised their price target on shares of W. R. Berkley from $68.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, W. R. Berkley has an average rating of “Hold” and an average price target of $66.90.

W. R. Berkley Stock Up 0.6 %

Shares of NYSE:WRB opened at $71.25 on Tuesday. W. R. Berkley has a 12-month low of $50.73 and a 12-month high of $76.38. The stock has a market capitalization of $27.03 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.56 and a beta of 0.40. The stock has a fifty day simple moving average of $65.07 and a two-hundred day simple moving average of $61.61. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.34.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings results on Monday, April 21st. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.07). The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.01 billion. W. R. Berkley had a return on equity of 20.83% and a net margin of 12.88%. On average, research analysts anticipate that W. R. Berkley will post 4.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On W. R. Berkley

Several hedge funds and other institutional investors have recently modified their holdings of WRB. Barclays PLC increased its position in W. R. Berkley by 78.6% in the third quarter. Barclays PLC now owns 1,469,608 shares of the insurance provider’s stock worth $83,372,000 after buying an additional 646,973 shares in the last quarter. Bard Financial Services Inc. raised its stake in W. R. Berkley by 50.0% during the 3rd quarter. Bard Financial Services Inc. now owns 7,590 shares of the insurance provider’s stock worth $431,000 after acquiring an additional 2,530 shares during the period. Anchor Investment Management LLC purchased a new position in W. R. Berkley during the third quarter valued at approximately $88,000. World Investment Advisors LLC purchased a new stake in shares of W. R. Berkley in the third quarter worth $1,709,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of W. R. Berkley during the 3rd quarter valued at $98,000. 68.82% of the stock is currently 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.