Argus Initiates Coverage on W. R. Berkley (NYSE:WRB)

Argus began coverage on shares of W. R. Berkley (NYSE:WRBGet Rating) in a research report sent to investors on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $72.00 target price on the insurance provider’s stock.

Several other research analysts also recently issued reports on WRB. Truist Financial lifted their price objective on W. R. Berkley from $73.33 to $83.00 in a research report on Tuesday, April 26th. Royal Bank of Canada boosted their price objective on shares of W. R. Berkley from $63.00 to $75.00 in a research note on Friday, April 8th. Morgan Stanley boosted their price objective on shares of W. R. Berkley from $68.00 to $70.00 and gave the company an equal weight rating in a research note on Monday, May 23rd. StockNews.com lowered shares of W. R. Berkley from a buy rating to a hold rating in a report on Monday, July 25th. Finally, Jefferies Financial Group lifted their target price on shares of W. R. Berkley from $67.00 to $70.00 and gave the company a hold rating in a report on Tuesday, July 12th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $70.03.

W. R. Berkley Stock Performance

Shares of WRB stock opened at $61.83 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.49 and a current ratio of 0.39. W. R. Berkley has a 1 year low of $47.13 and a 1 year high of $72.32. The stock’s 50-day moving average is $66.45 and its two-hundred day moving average is $64.98. The firm has a market cap of $16.40 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 1.70 and a beta of 0.65.

W. R. Berkley (NYSE:WRBGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The insurance provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.28. The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.56 billion. W. R. Berkley had a net margin of 12.71% and a return on equity of 17.26%. During the same quarter last year, the firm earned $0.78 earnings per share. Analysts predict that W. R. Berkley will post 4.06 earnings per share for the current year.

W. R. Berkley Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 7th. Shareholders of record on Monday, June 27th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.65%. The ex-dividend date was Friday, June 24th. This is a positive change from W. R. Berkley’s previous quarterly dividend of $0.09. W. R. Berkley’s dividend payout ratio is currently 8.42%.

Insider Buying and Selling at W. R. Berkley

In other W. R. Berkley news, Director Mark Ellwood Brockbank purchased 1,434 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were bought at an average price of $61.85 per share, for a total transaction of $88,692.90. Following the purchase, the director now directly owns 6,000 shares in the company, valued at approximately $371,100. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. FinTrust Capital Advisors LLC bought a new stake in W. R. Berkley in the 2nd quarter valued at $25,000. Parkside Financial Bank & Trust increased its position in W. R. Berkley by 134.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 427 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 245 shares in the last quarter. Covestor Ltd acquired a new stake in W. R. Berkley in the 4th quarter valued at about $36,000. Clear Street Markets LLC increased its position in W. R. Berkley by 409.3% in the 2nd quarter. Clear Street Markets LLC now owns 438 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 352 shares in the last quarter. Finally, Wolff Wiese Magana LLC increased its position in W. R. Berkley by 49.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 448 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 148 shares in the last quarter. 49.90% of the stock is currently owned by institutional investors and hedge funds.

About W. R. Berkley

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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.

Further Reading

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

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