W. R. Berkley (NYSE:WRB – Free Report) had its price objective cut by Truist Financial from $95.00 to $93.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the insurance provider’s stock.
A number of other equities analysts have also weighed in on WRB. Evercore ISI increased their price target on W. R. Berkley from $83.00 to $89.00 and gave the company an in-line rating in a research report on Thursday, April 11th. StockNews.com downgraded W. R. Berkley from a buy rating to a hold rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods raised their price objective on W. R. Berkley from $85.00 to $88.00 and gave the company a market perform rating in a research note on Wednesday, April 10th. UBS Group raised their price objective on W. R. Berkley from $81.00 to $93.00 and gave the company a buy rating in a research note on Tuesday, January 30th. Finally, The Goldman Sachs Group raised their target price on W. R. Berkley from $86.00 to $95.00 and gave the company a buy rating in a report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $90.63.
Read Our Latest Report on W. R. Berkley
W. R. Berkley Stock Performance
W. R. Berkley (NYSE:WRB – Get Free Report) last issued its earnings results on Tuesday, April 23rd. The insurance provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.10. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.77 billion. W. R. Berkley had a return on equity of 21.01% and a net margin of 12.23%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the company earned $1.00 earnings per share. On average, analysts expect that W. R. Berkley will post 5.87 EPS for the current fiscal year.
W. R. Berkley Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, March 4th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.44 annualized dividend and a yield of 0.57%. W. R. Berkley’s dividend payout ratio is 7.80%.
Institutional Trading of W. R. Berkley
Several hedge funds have recently added to or reduced their stakes in WRB. Bruce G. Allen Investments LLC bought a new position in W. R. Berkley during the 4th quarter worth $25,000. Glassman Wealth Services increased its stake in shares of W. R. Berkley by 123.1% in the 4th quarter. Glassman Wealth Services now owns 357 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 197 shares during the last quarter. Parkside Financial Bank & Trust grew its position in W. R. Berkley by 106.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 406 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 209 shares during the last quarter. Raleigh Capital Management Inc. grew its position in W. R. Berkley by 132.6% during the 3rd quarter. Raleigh Capital Management Inc. now owns 414 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 236 shares during the last quarter. Finally, VisionPoint Advisory Group LLC bought a new stake in W. R. Berkley during the 3rd quarter worth $27,000. 68.82% of the stock is owned by institutional investors and hedge funds.
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.
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