W.R. Berkley (NYSE:WRB) Given New $66.00 Price Target at Barclays

W.R. Berkley (NYSE:WRB) had its price target lifted by Barclays from $62.00 to $66.00 in a report released on Monday,Benzinga reports. The firm presently has an “underweight” rating on the insurance provider’s stock. Barclays‘s price objective suggests a potential downside of 6.30% from the company’s previous close.

Several other analysts have also recently issued reports on WRB. Bank of America reissued a “neutral” rating and set a $74.00 price target (up previously from $73.00) on shares of W.R. Berkley in a research report on Tuesday, April 1st. Wall Street Zen cut shares of W.R. Berkley from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Truist Financial raised their target price 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. Jefferies Financial Group raised their target price on shares of W.R. Berkley from $57.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday, April 11th. Finally, Wells Fargo & Company lifted their price objective on shares of W.R. Berkley from $69.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, W.R. Berkley currently has a consensus rating of “Hold” and an average target price of $71.75.

W.R. Berkley Price Performance

Shares of W.R. Berkley stock traded down $1.05 during trading hours on Monday, reaching $70.44. 1,166,751 shares of the company’s stock were exchanged, compared to its average volume of 1,774,994. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.32. W.R. Berkley has a 1 year low of $51.41 and a 1 year high of $76.38. The business has a fifty day moving average of $72.82 and a two-hundred day moving average of $66.15. The company has a market capitalization of $26.72 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 2.47 and a beta of 0.41.

W.R. Berkley (NYSE:WRB) last announced its quarterly earnings data 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 analysts’ expectations of $3.01 billion. W.R. Berkley had a net margin of 12.43% and a return on equity of 19.66%. As a group, research analysts predict that W.R. Berkley will post 4.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WRB. Brighton Jones LLC raised its stake in W.R. Berkley by 75.6% in the 4th quarter. Brighton Jones LLC now owns 50,503 shares of the insurance provider’s stock valued at $2,955,000 after purchasing an additional 21,737 shares during the last quarter. US Bancorp DE raised its stake in W.R. Berkley by 4.4% in the 4th quarter. US Bancorp DE now owns 18,317 shares of the insurance provider’s stock valued at $1,072,000 after purchasing an additional 773 shares during the last quarter. Jones Financial Companies Lllp raised its stake in W.R. Berkley by 66.3% in the 4th quarter. Jones Financial Companies Lllp now owns 2,356 shares of the insurance provider’s stock valued at $138,000 after purchasing an additional 939 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in W.R. Berkley by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,796,835 shares of the insurance provider’s stock valued at $105,151,000 after buying an additional 50,751 shares during the period. Finally, Keybank National Association OH grew its holdings in W.R. Berkley by 11.5% in the 4th quarter. Keybank National Association OH now owns 6,326 shares of the insurance provider’s stock valued at $370,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 68.82% of the company’s stock.

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.