W. R. Berkley Co. (NYSE:WRB) Receives $64.28 Consensus PT from Analysts

W. R. Berkley Co. (NYSE:WRB) has earned an average rating of “Hold” from the thirteen analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $64.28.

Several research firms have recently commented on WRB. Wells Fargo & Company increased their price objective on W. R. Berkley from $63.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. StockNews.com downgraded shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley started coverage on W. R. Berkley in a research report on Thursday, December 5th. They set an “equal weight” rating and a $65.00 price target on the stock. Royal Bank of Canada raised their price objective on W. R. Berkley from $57.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. Finally, Evercore ISI boosted their target price on W. R. Berkley from $57.00 to $60.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd.

W. R. Berkley Price Performance

NYSE WRB opened at $58.97 on Thursday. W. R. Berkley has a 12-month low of $46.74 and a 12-month high of $65.49. The firm’s 50 day moving average is $60.42 and its 200-day moving average is $57.96. The company has a market capitalization of $22.47 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 1.17 and a beta of 0.65. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.34.

W. R. Berkley (NYSE:WRB) last issued its quarterly earnings results on Monday, October 21st. The insurance provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.93 billion. W. R. Berkley had a net margin of 11.96% and a return on equity of 20.41%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 EPS. Equities research analysts anticipate that W. R. Berkley will post 3.96 earnings per share for the current fiscal year.

W. R. Berkley Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Monday, December 16th. W. R. Berkley’s dividend payout ratio is currently 8.21%.

Hedge Funds Weigh In On W. R. Berkley

Hedge funds have recently added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. increased its position in shares of W. R. Berkley by 51.0% in the third quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 209 shares during the period. PFS Partners LLC increased its holdings in W. R. Berkley by 51.1% in the 3rd quarter. PFS Partners LLC now owns 719 shares of the insurance provider’s stock valued at $41,000 after buying an additional 243 shares during the period. Quarry LP acquired a new position in shares of W. R. Berkley in the 2nd quarter valued at approximately $42,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of W. R. Berkley by 108.1% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 801 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 416 shares during the period. Finally, Kiely Wealth Advisory Group Inc. lifted its holdings in shares of W. R. Berkley by 49.9% during the 2nd quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 193 shares during the period. Institutional investors own 68.82% of the company’s stock.

About W. R. Berkley

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.