W.R. Berkley (NYSE:WRB – Get Free Report) had its price target increased by analysts at Cantor Fitzgerald from $73.00 to $74.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the insurance provider’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 6.16% from the stock’s previous close.
Other equities analysts have also issued reports about the company. Wolfe Research lowered W.R. Berkley from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Atlantic Securities set a $74.00 price objective on W.R. Berkley in a research note on Wednesday, July 15th. Bank of America reaffirmed an “underperform” rating and issued a $68.00 target price (down from $74.00) on shares of W.R. Berkley in a research note on Thursday, July 16th. Truist Financial increased their price target on shares of W.R. Berkley from $78.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings lowered shares of W.R. Berkley from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $70.56.
View Our Latest Analysis on WRB
W.R. Berkley Price Performance
W.R. Berkley (NYSE:WRB – Get Free Report) last announced its quarterly earnings data on Monday, July 20th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.19. The firm had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.28 billion. W.R. Berkley had a return on equity of 19.44% and a net margin of 12.94%.The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $1.05 earnings per share. Equities research analysts expect that W.R. Berkley will post 4.87 EPS for the current year.
Institutional Investors Weigh In On W.R. Berkley
Large investors have recently modified their holdings of the stock. CX Institutional grew its position in shares of W.R. Berkley by 10.5% in the 3rd quarter. CX Institutional now owns 4,552 shares of the insurance provider’s stock worth $307,000 after buying an additional 433 shares during the period. QRG Capital Management Inc. lifted its position in W.R. Berkley by 13.9% during the 2nd quarter. QRG Capital Management Inc. now owns 43,570 shares of the insurance provider’s stock valued at $3,073,000 after acquiring an additional 5,316 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in W.R. Berkley by 2.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,467 shares of the insurance provider’s stock worth $668,000 after acquiring an additional 243 shares in the last quarter. Security National Bank of SO Dak bought a new stake in W.R. Berkley during the second quarter worth about $45,000. Finally, Sequoia Financial Advisors LLC grew its holdings in W.R. Berkley by 55.0% in the second quarter. Sequoia Financial Advisors LLC now owns 14,948 shares of the insurance provider’s stock worth $1,054,000 after purchasing an additional 5,304 shares during the period. Institutional investors own 68.82% of the company’s stock.
About W.R. Berkley
W.R. Berkley Corporation is an insurance holding company that specializes in commercial property and casualty insurance and reinsurance. Through a group of operating units, the company provides coverage for businesses and organizations facing risks related to property damage, liability, workers’ compensation, transportation, professional services and other specialty exposures.
The company generally focuses on specialty and complex risks that may require tailored underwriting, industry expertise and customized policy structures.
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