StockNews.com assumed coverage on shares of W. R. Berkley (NYSE:WRB – Get Free Report) in a report released on Thursday. The brokerage set a “buy” rating on the insurance provider’s stock.
Separately, Wells Fargo & Company decreased their price objective on W. R. Berkley from $76.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, W. R. Berkley has a consensus rating of “Moderate Buy” and an average target price of $78.00.
View Our Latest Stock Analysis on WRB
W. R. Berkley Stock Up 1.2 %
W. R. Berkley (NYSE:WRB – Get Free Report) last posted its earnings results on Thursday, July 20th. The insurance provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.07. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $2.57 billion. W. R. Berkley had a return on equity of 17.65% and a net margin of 10.85%. W. R. Berkley’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.12 earnings per share. Analysts predict that W. R. Berkley will post 4.52 EPS for the current fiscal year.
Institutional Trading of W. R. Berkley
Several institutional investors have recently made changes to their positions in the stock. Morgan Stanley raised its position in shares of W. R. Berkley by 427.2% in the 4th quarter. Morgan Stanley now owns 10,899,093 shares of the insurance provider’s stock worth $790,947,000 after buying an additional 8,831,553 shares during the period. Vanguard Group Inc. grew its holdings in shares of W. R. Berkley by 55.3% during the 1st quarter. Vanguard Group Inc. now owns 24,331,473 shares of the insurance provider’s stock worth $1,620,232,000 after purchasing an additional 8,664,707 shares during the period. State Street Corp increased its position in W. R. Berkley by 65.6% during the 1st 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 acquired a new position in W. R. Berkley during the fourth quarter valued at approximately $199,140,000. Finally, Invesco Ltd. grew its stake 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 buying an additional 1,840,475 shares during the period. 66.34% of the stock is owned by hedge funds and other institutional investors.
About W. R. Berkley
W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and general and professional liability lines.
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