W. R. Berkley (NYSE:WRB) Price Target Raised to $70.00 at Morgan Stanley

Posted by on May 23rd, 2022

W. R. Berkley (NYSE:WRB – Get Rating) had its price objective upped by analysts at Morgan Stanley from $68.00 to $70.00 in a research report issued to clients and investors on Monday, Stock Target Advisor reports. The firm currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 2.82% from the stock’s previous close.

Several other equities research analysts also recently weighed in on WRB. Wolfe Research raised shares of W. R. Berkley from a “market perform” rating to an “outperform” rating and set a $70.67 target price for the company in a research report on Thursday, February 3rd. Zacks Investment Research downgraded W. R. Berkley from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a research note on Wednesday, April 6th. Wells Fargo & Company raised their price target on shares of W. R. Berkley from $65.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, April 12th. StockNews.com raised W. R. Berkley from a “hold” rating to a “buy” rating in a report on Thursday, April 28th. Finally, Royal Bank of Canada boosted their target price on W. R. Berkley from $63.00 to $75.00 in a report on Friday, April 8th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $67.82.

Shares of WRB stock traded up $1.60 during trading hours on Monday, reaching $68.08. The company had a trading volume of 4,091 shares, compared to its average volume of 1,513,997. The company has a market capitalization of $18.05 billion, a P/E ratio of 13.73, a price-to-earnings-growth ratio of 1.91 and a beta of 0.75. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.49 and a current ratio of 0.49. W. R. Berkley has a twelve month low of $47.13 and a twelve month high of $71.53. The stock’s fifty day simple moving average is $67.66 and its 200 day simple moving average is $60.28.

W. R. Berkley (NYSE:WRB – Get Rating) last posted its earnings results on Monday, April 25th. The insurance provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.18. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.26 billion. W. R. Berkley had a net margin of 13.55% and a return on equity of 15.77%. The business’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. As a group, equities analysts expect that W. R. Berkley will post 3.85 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Consolidated Planning Corp acquired a new stake in W. R. Berkley in the third quarter worth about $25,000. Liberty Wealth Management LLC boosted its holdings in W. R. Berkley by 1,431.8% during the third quarter. Liberty Wealth Management LLC now owns 337 shares of the insurance provider’s stock worth $26,000 after buying an additional 315 shares during the last quarter. Wolff Wiese Magana LLC grew its position in shares of W. R. Berkley by 49.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 448 shares of the insurance provider’s stock worth $30,000 after buying an additional 148 shares during the period. Clearstead Advisors LLC increased its stake in shares of W. R. Berkley by 826.0% in the 1st quarter. Clearstead Advisors LLC now owns 463 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 413 shares during the last quarter. Finally, Washington Trust Advisors Inc. raised its position in shares of W. R. Berkley by 1,025.6% in the 1st quarter. Washington Trust Advisors Inc. now owns 484 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 441 shares during the period. 49.90% of the stock is currently owned by institutional investors and hedge funds.

About W. R. Berkley (Get Rating)

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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