W. R. Berkley (NYSE:WRB) Cut to "Hold" at StockNews.com
StockNews.com downgraded W. R. Berkley (NYSE:WRB) from a "buy" to a "hold" rating. Other analysts have varied opinions, with Bank of America maintaining a "neutral" rating and a target price of $74, while Keefe, Bruyette & Woods lowered their target from $64 to $62. The stock opened at $67.06, with a 12-month range of $50.73 to $76.38. W. R. Berkley reported an EPS of $1.13, exceeding estimates, and has a consensus price target of $65.13. Institutional investors hold 68.82% of the stock.
W. R. Berkley (NYSE:WRB - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.
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WRB has been the subject of several other reports. Bank of America restated a "neutral" rating and set a $74.00 target price (up from $73.00) on shares of W. R. Berkley in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods lowered their price objective on W. R. Berkley from $64.00 to $62.00 and set a "market perform" rating for the company in a research note on Wednesday. Barclays upped their target price 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. Truist Financial raised their price target on shares of W. R. Berkley from $68.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, April 3rd. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $63.00 target price on shares of W. R. Berkley in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, W. R. Berkley currently has an average rating of "Hold" and a consensus price target of $65.13.
View Our Latest Research Report on W. R. Berkley
W. R. Berkley Price Performance
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WRB stock opened at $67.06 on Friday. W. R. Berkley has a 12-month low of $50.73 and a 12-month high of $76.38. The company has a market cap of $25.43 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.56 and a beta of 0.40. The firm has a 50 day moving average of $63.61 and a 200-day moving average of $60.89. 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 - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The insurance provider reported $1.13 EPS for the quarter, beating 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 expect that W. R. Berkley will post 4.33 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Optiver Holding B.V. lifted its stake in shares of W. R. Berkley by 107.3% during the 4th quarter. Optiver Holding B.V. now owns 427 shares of the insurance provider's stock worth $25,000 after buying an additional 221 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in shares of W. R. Berkley in the fourth quarter valued at approximately $35,000. Mpwm Advisory Solutions LLC acquired a new position in shares of W. R. Berkley in the fourth quarter valued at approximately $37,000. Catalyst Capital Advisors LLC acquired a new stake in W. R. Berkley during the 4th quarter worth approximately $42,000. Finally, Colonial Trust Co SC boosted its stake in W. R. Berkley by 79.9% in the 4th quarter. Colonial Trust Co SC now owns 822 shares of the insurance provider's stock valued at $48,000 after purchasing an additional 365 shares during the period. Institutional investors own 68.82% of the company's stock.
W. R. Berkley Company Profile
(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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