W. R. Berkley Co. (NYSE:WRB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of W. R. Berkley Co. (NYSE:WRBGet Rating) have received a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $73.70.

Several research firms have issued reports on WRB. Jefferies Financial Group upped their price target on shares of W. R. Berkley from $67.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 12th. Morgan Stanley upped their price target on shares of W. R. Berkley from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Friday, August 19th. Keefe, Bruyette & Woods raised shares of W. R. Berkley from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $77.00 to $80.00 in a research report on Monday, September 5th. Argus assumed coverage on shares of W. R. Berkley in a research report on Wednesday, August 3rd. They set a “buy” rating and a $72.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on shares of W. R. Berkley to $83.00 in a research report on Friday, July 22nd.

W. R. Berkley Stock Down 0.9 %

W. R. Berkley stock opened at $64.44 on Friday. W. R. Berkley has a twelve month low of $48.20 and a twelve month high of $72.32. The company has a 50 day moving average of $65.01 and a 200-day moving average of $66.49. The stock has a market capitalization of $17.09 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.80 and a beta of 0.62. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.43.

W. R. Berkley (NYSE:WRBGet Rating) last announced its earnings results on Thursday, July 21st. The insurance provider reported $1.12 EPS for the quarter, topping the consensus estimate of $0.84 by $0.28. W. R. Berkley had a net margin of 12.71% and a return on equity of 17.26%. The business had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. On average, equities research analysts anticipate that W. R. Berkley will post 4.1 EPS for the current fiscal year.

W. R. Berkley Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 26th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, September 23rd. W. R. Berkley’s dividend payout ratio (DPR) is currently 8.42%.

Insider Activity at W. R. Berkley

In other news, Director Mark Ellwood Brockbank acquired 1,434 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were acquired at an average cost of $61.85 per share, for a total transaction of $88,692.90. Following the purchase, the director now owns 6,000 shares of the company’s stock, valued at approximately $371,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On W. R. Berkley

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wolff Wiese Magana LLC increased its position in shares of W. R. Berkley by 49.3% in the first quarter. Wolff Wiese Magana LLC now owns 448 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 148 shares during the last quarter. First Manhattan Co. boosted its stake in W. R. Berkley by 50.0% in the first quarter. First Manhattan Co. now owns 486 shares of the insurance provider’s stock worth $32,000 after buying an additional 162 shares in the last quarter. MAI Capital Management boosted its stake in W. R. Berkley by 2.8% in the second quarter. MAI Capital Management now owns 6,322 shares of the insurance provider’s stock worth $432,000 after buying an additional 175 shares in the last quarter. Gemmer Asset Management LLC boosted its stake in W. R. Berkley by 49.9% in the first quarter. Gemmer Asset Management LLC now owns 532 shares of the insurance provider’s stock worth $35,000 after buying an additional 177 shares in the last quarter. Finally, Clearview Wealth Advisors LLC boosted its stake in W. R. Berkley by 49.7% in the first quarter. Clearview Wealth Advisors LLC now owns 533 shares of the insurance provider’s stock worth $36,000 after buying an additional 177 shares in the last quarter. 69.05% of the stock is currently owned by institutional investors.

W. R. Berkley Company Profile

(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.

Further Reading

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

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