W. R. Berkley (NYSE:WRB – Get Rating) had its price target cut by Wells Fargo & Company from $85.00 to $79.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 25.20% from the stock’s previous close.
WRB has been the subject of a number of other reports. BMO Capital Markets began coverage on W. R. Berkley in a research report on Thursday, January 19th. They set a “market perform” rating and a $76.00 price target for the company. Bank of America raised W. R. Berkley from a “neutral” rating to a “buy” rating and cut their target price for the stock from $77.00 to $76.00 in a research note on Wednesday, March 15th. Finally, StockNews.com cut W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Monday, March 27th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, W. R. Berkley has a consensus rating of “Moderate Buy” and an average target price of $78.55.
W. R. Berkley Trading Up 0.7 %
Shares of WRB opened at $63.10 on Wednesday. W. R. Berkley has a 52-week low of $58.92 and a 52-week high of $76.99. The business’s fifty day moving average is $65.11 and its 200-day moving average is $69.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market cap of $16.62 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.43 and a beta of 0.62.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley grew its stake in W. R. Berkley by 427.2% in the fourth quarter. Morgan Stanley now owns 10,899,093 shares of the insurance provider’s stock worth $790,947,000 after purchasing an additional 8,831,553 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of W. R. Berkley by 55.3% during the first quarter. Vanguard Group Inc. now owns 24,331,473 shares of the insurance provider’s stock valued at $1,620,232,000 after buying an additional 8,664,707 shares during the last quarter. State Street Corp raised its holdings in W. R. Berkley by 65.6% during the first quarter. State Street Corp now owns 11,940,770 shares of the insurance provider’s stock worth $795,136,000 after purchasing an additional 4,732,333 shares in the last quarter. Norges Bank bought a new stake in W. R. Berkley during the fourth quarter worth approximately $199,140,000. Finally, Invesco Ltd. raised its holdings in W. R. Berkley by 119.7% during the first quarter. Invesco Ltd. now owns 3,377,556 shares of the insurance provider’s stock worth $224,911,000 after purchasing an additional 1,840,475 shares in the last quarter. 71.66% of the stock is owned by hedge funds and other institutional investors.
W. R. Berkley Company Profile
W.R. Berkley Corp. is an insurance holding company, which engages in the property casualty insurance business. It operates through the following segments: Insurance and Reinsurance & Monoline Excess. The Insurance segment includes excess and surplus lines, admitted lines, and specialty personal lines throughout the United States, as well as insurance businesses in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia, and Australia.
See Also
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