W.R. Berkley (NYSE:WRB) Price Target Raised to $74.00

W.R. Berkley (NYSE:WRB) had its target price hoisted by Mizuho from $72.00 to $74.00 in a research note issued to investors on Tuesday morning, Marketbeat reports. They currently have a neutral rating on the insurance provider’s stock.

Several other equities research analysts also recently issued reports on the stock. Argus downgraded shares of W.R. Berkley from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Morgan Stanley upped their target price on shares of W.R. Berkley from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, July 6th. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of W.R. Berkley in a research note on Tuesday. Atlantic Securities set a $74.00 price target on W.R. Berkley in a report on Wednesday, July 15th. Finally, Bank of America reaffirmed an “underperform” rating and set a $68.00 price objective (down from $74.00) on shares of W.R. Berkley in a research report on Thursday, July 16th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $70.44.

W.R. Berkley Trading Up 1.5%

NYSE WRB opened at $73.41 on Tuesday. W.R. Berkley has a one year low of $62.87 and a one year high of $78.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market cap of $27.33 billion, a P/E ratio of 15.07, a P/E/G ratio of 3.37 and a beta of 0.29. The stock’s 50-day moving average is $69.01 and its 200-day moving average is $68.40.

W.R. Berkley (NYSE:WRB) last issued its quarterly earnings data on Monday, July 20th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.19. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.28 billion. W.R. Berkley had a return on equity of 19.49% and a net margin of 12.94%.W.R. Berkley’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 EPS. Sell-side analysts anticipate that W.R. Berkley will post 4.74 earnings per share for the current fiscal year.

W.R. Berkley Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 23rd were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. This is a positive change from W.R. Berkley’s previous quarterly dividend of $0.09. W.R. Berkley’s dividend payout ratio (DPR) is currently 8.21%.

Institutional Trading of W.R. Berkley

Hedge funds and other institutional investors have recently modified their holdings of the stock. Entrust Financial LLC bought a new position in W.R. Berkley in the fourth quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. increased its holdings in W.R. Berkley by 140.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock worth $26,000 after buying an additional 210 shares during the last quarter. Allied Private Wealth LLC acquired a new position in W.R. Berkley during the second quarter worth $29,000. DV Equities LLC bought a new stake in W.R. Berkley during the fourth quarter worth $29,000. Finally, Triumph Capital Management acquired a new stake in W.R. Berkley in the third quarter valued at $35,000. Institutional investors and hedge funds own 68.82% of the company’s stock.

W.R. Berkley Company Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.