W.R. Berkley (NYSE:WRB) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of W.R. Berkley (NYSE:WRB) from a hold rating to a sell rating in a research note released on Sunday morning.

Other analysts also recently issued reports about the stock. Jefferies Financial Group cut their price objective on shares of W.R. Berkley from $75.00 to $70.00 and set a “hold” rating on the stock in a research report on Tuesday, January 27th. Argus decreased their target price on shares of W.R. Berkley from $82.00 to $76.00 and set a “buy” rating for the company in a research report on Monday, February 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $75.00 price target (down from $76.00) on shares of W.R. Berkley in a research note on Monday, February 2nd. Barclays reaffirmed an “underweight” rating and set a $64.00 price target (down from $73.00) on shares of W.R. Berkley in a report on Thursday, January 8th. Finally, Wells Fargo & Company reduced their price objective on W.R. Berkley from $68.00 to $66.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 27th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, W.R. Berkley currently has a consensus rating of “Hold” and an average price target of $69.88.

W.R. Berkley Price Performance

Shares of WRB opened at $66.31 on Friday. W.R. Berkley has a 12 month low of $62.63 and a 12 month high of $78.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a fifty day moving average price of $68.87 and a 200 day moving average price of $71.57. The company has a market cap of $24.83 billion, a P/E ratio of 14.90, a PEG ratio of 2.59 and a beta of 0.35.

W.R. Berkley (NYSE:WRB) last posted its earnings results on Monday, January 26th. The insurance provider reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). W.R. Berkley had a net margin of 12.10% and a return on equity of 18.17%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the business posted $1.13 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, research analysts forecast that W.R. Berkley will post 4.33 earnings per share for the current year.

W.R. Berkley Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were given a $0.09 dividend. The ex-dividend date was Monday, February 23rd. This represents a $0.36 annualized dividend and a yield of 0.5%. W.R. Berkley’s payout ratio is 8.09%.

Insider Activity

In related news, major shareholder Sumitomo Insurance Co L. Mitsui acquired 370,000 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was bought at an average price of $67.07 per share, for a total transaction of $24,815,900.00. Following the transaction, the insider owned 54,959,504 shares of the company’s stock, valued at approximately $3,686,133,933.28. The trade was a 0.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired a total of 8,213,939 shares of company stock valued at $567,385,262 over the last quarter. 23.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On W.R. Berkley

A number of hedge funds have recently modified their holdings of the stock. Entrust Financial LLC acquired a new position in shares of W.R. Berkley in the 4th quarter valued at $25,000. Compass Financial Services Inc acquired a new stake in W.R. Berkley during the 3rd quarter worth about $26,000. Hazlett Burt & Watson Inc. raised its holdings in W.R. Berkley by 140.0% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock worth $26,000 after buying an additional 210 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new stake in W.R. Berkley during the second quarter valued at about $27,000. Finally, DV Equities LLC purchased a new stake in W.R. Berkley during the fourth quarter valued at about $29,000. 68.82% of the stock is currently owned by institutional investors and hedge funds.

W.R. Berkley Company Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.