W. R. Berkley Corp (NYSE:WRB) Given Consensus Rating of “Hold” by Brokerages

W. R. Berkley Corp (NYSE:WRB) has received a consensus recommendation of “Hold” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $61.67.

Several equities analysts have recently issued reports on the stock. ValuEngine raised shares of W. R. Berkley from a “sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Morgan Stanley dropped their target price on shares of W. R. Berkley from $78.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. Cfra dropped their target price on shares of W. R. Berkley from $77.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, April 24th. TheStreet downgraded shares of W. R. Berkley from a “b-” rating to a “c” rating in a research report on Tuesday, April 21st. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $68.00 target price (down from $82.00) on shares of W. R. Berkley in a research report on Wednesday, April 8th.

NYSE:WRB traded down $1.57 during mid-day trading on Friday, hitting $55.41. The stock had a trading volume of 1,191,364 shares, compared to its average volume of 876,268. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 21.56 and a beta of 0.81. The company has a 50 day simple moving average of $56.34 and a 200-day simple moving average of $62.50. W. R. Berkley has a 52 week low of $43.05 and a 52 week high of $79.92. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.48.

W. R. Berkley (NYSE:WRB) last released its quarterly earnings results on Tuesday, April 21st. The insurance provider reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.04). The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.74 billion. W. R. Berkley had a return on equity of 9.97% and a net margin of 6.39%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 earnings per share. As a group, equities research analysts anticipate that W. R. Berkley will post 2.56 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be issued a dividend of $0.12 per share. This is a boost from W. R. Berkley’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, June 22nd. W. R. Berkley’s dividend payout ratio (DPR) is currently 15.84%.

Hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its holdings in shares of W. R. Berkley by 48.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 683,247 shares of the insurance provider’s stock worth $47,212,000 after purchasing an additional 222,615 shares during the period. Franklin Resources Inc. boosted its holdings in shares of W. R. Berkley by 9.5% during the first quarter. Franklin Resources Inc. now owns 75,502 shares of the insurance provider’s stock worth $3,939,000 after purchasing an additional 6,573 shares during the period. ING Groep NV acquired a new stake in W. R. Berkley in the fourth quarter valued at approximately $688,000. 1832 Asset Management L.P. lifted its stake in W. R. Berkley by 0.8% in the fourth quarter. 1832 Asset Management L.P. now owns 520,734 shares of the insurance provider’s stock valued at $35,939,000 after acquiring an additional 4,261 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in W. R. Berkley by 0.4% in the fourth quarter. Janus Henderson Group PLC now owns 7,205,885 shares of the insurance provider’s stock valued at $497,926,000 after acquiring an additional 29,986 shares during the last quarter. Institutional investors and hedge funds own 71.97% of the company’s stock.

W. R. Berkley Company Profile

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.

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Analyst Recommendations for W. R. Berkley (NYSE:WRB)

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