W.R. Berkley (NYSE:WRB) Price Target Raised to $74.00

W.R. Berkley (NYSE:WRB) had its price target lifted by Cantor Fitzgerald from $73.00 to $74.00 in a research note released on Wednesday, MarketBeat reports. They currently have a neutral rating on the insurance provider’s stock.

WRB has been the topic of a number of other reports. Wells Fargo & Company restated an “underweight” rating and set a $68.00 price objective (up from $67.00) on shares of W.R. Berkley in a research report on Tuesday, July 21st. Atlantic Securities set a $74.00 target price on W.R. Berkley in a research report on Wednesday, July 15th. Barclays restated an “underweight” rating and set a $62.00 price target (down from $64.00) on shares of W.R. Berkley in a report on Friday, June 12th. Weiss Ratings downgraded W.R. Berkley from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 2nd. Finally, Morgan Stanley set a $70.00 price objective on shares of W.R. Berkley and gave the stock an “equal weight” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $70.44.

W.R. Berkley Price Performance

WRB stock opened at $71.87 on Wednesday. W.R. Berkley has a 52 week low of $62.87 and a 52 week high of $78.96. The firm has a market capitalization of $26.68 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 1.71 and a beta of 0.27. The company has a fifty day simple moving average of $69.57 and a two-hundred day simple moving average of $68.73. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.29.

W.R. Berkley (NYSE:WRB) last posted its earnings results on Monday, July 20th. The insurance provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.19. W.R. Berkley had a net margin of 12.94% and a return on equity of 19.44%. The firm had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the previous year, the firm posted $1.05 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts anticipate that W.R. Berkley will post 4.90 earnings per share for the current fiscal year.

W.R. Berkley Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. W.R. Berkley’s dividend payout ratio (DPR) is 8.21%.

Institutional Investors Weigh In On W.R. Berkley

Several hedge funds have recently modified their holdings of the business. IFP Advisors Inc lifted its position in W.R. Berkley by 44.7% during the second quarter. IFP Advisors Inc now owns 466 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 144 shares during the last quarter. Valeo Financial Advisors LLC increased its position in W.R. Berkley by 4.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,774 shares of the insurance provider’s stock valued at $266,000 after buying an additional 161 shares in the last quarter. Wedmont Private Capital raised its stake in W.R. Berkley by 1.8% in the third quarter. Wedmont Private Capital now owns 10,146 shares of the insurance provider’s stock valued at $731,000 after buying an additional 182 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in W.R. Berkley by 3.9% in the second quarter. Assenagon Asset Management S.A. now owns 4,962 shares of the insurance provider’s stock worth $350,000 after acquiring an additional 184 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC grew its stake in shares of W.R. Berkley by 3.5% during the first quarter. Cassaday & Co Wealth Management LLC now owns 6,057 shares of the insurance provider’s stock worth $401,000 after acquiring an additional 206 shares during the last quarter. Hedge funds and other 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.