Brokerages Set W. R. Berkley Co. (NYSE:WRB) Price Target at $64.28

W. R. Berkley Co. (NYSE:WRB) has been given a consensus rating of “Hold” by the thirteen analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $64.28.

WRB has been the subject of several recent analyst reports. Royal Bank of Canada raised their price objective on shares of W. R. Berkley from $57.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 22nd. UBS Group raised their price target on shares of W. R. Berkley from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Barclays assumed coverage on W. R. Berkley in a report on Wednesday, September 4th. They issued an “underweight” rating and a $56.00 price objective on the stock. Wells Fargo & Company raised their target price on W. R. Berkley from $63.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com lowered W. R. Berkley from a “buy” rating to a “hold” rating in a research note on Wednesday, December 25th.

W. R. Berkley Price Performance

WRB stock opened at $58.52 on Thursday. The company has a market cap of $22.30 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.17 and a beta of 0.65. The firm has a 50-day moving average of $60.36 and a two-hundred day moving average of $58.10. W. R. Berkley has a 12 month low of $47.18 and a 12 month high of $65.49. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.34.

W. R. Berkley (NYSE:WRB) last released its quarterly earnings data on Monday, October 21st. The insurance provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. W. R. Berkley had a return on equity of 20.41% and a net margin of 11.96%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, analysts forecast that W. R. Berkley will post 3.96 earnings per share for the current fiscal year.

W. R. Berkley Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Monday, December 16th. W. R. Berkley’s payout ratio is 8.21%.

Institutional Investors Weigh In On W. R. Berkley

Several large investors have recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. raised its holdings in shares of W. R. Berkley by 51.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 209 shares in the last quarter. PFS Partners LLC lifted its holdings in W. R. Berkley by 51.1% during the 3rd quarter. PFS Partners LLC now owns 719 shares of the insurance provider’s stock worth $41,000 after buying an additional 243 shares during the last quarter. Quarry LP acquired a new position in shares of W. R. Berkley during the 2nd quarter worth about $42,000. Creative Financial Designs Inc. ADV increased its holdings in shares of W. R. Berkley by 108.1% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 801 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 416 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. raised its position in shares of W. R. Berkley by 49.9% during the 2nd quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 193 shares in the last quarter. 68.82% of the stock is owned by hedge funds and other institutional investors.

W. R. Berkley Company Profile

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writers worldwide. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines, and specialty personal lines.