W. R. Berkley (NYSE:WRB) Price Target Raised to $95.00 at The Goldman Sachs Group

W. R. Berkley (NYSE:WRB) had its price objective hoisted by The Goldman Sachs Group from $86.00 to $95.00 in a research note released on Friday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the insurance provider’s stock.

A number of other research analysts also recently issued reports on WRB. Royal Bank of Canada lifted their price target on W. R. Berkley from $73.00 to $79.00 and gave the company a sector perform rating in a report on Thursday, January 25th. Wells Fargo & Company lifted their price target on W. R. Berkley from $92.00 to $99.00 and gave the company an overweight rating in a report on Thursday, April 11th. Truist Financial lifted their price target on W. R. Berkley from $83.00 to $95.00 and gave the company a buy rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods boosted their target price on W. R. Berkley from $85.00 to $88.00 and gave the stock a market perform rating in a research note on Wednesday, April 10th. Finally, BMO Capital Markets boosted their target price on W. R. Berkley from $71.00 to $81.00 and gave the stock a market perform rating in a research note on Friday, January 26th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, W. R. Berkley currently has an average rating of Moderate Buy and a consensus target price of $89.22.

W. R. Berkley Price Performance

Shares of W. R. Berkley stock opened at $82.00 on Friday. The stock has a market cap of $21.04 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 1.53 and a beta of 0.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a 50 day moving average price of $84.43 and a 200-day moving average price of $75.44. W. R. Berkley has a one year low of $55.50 and a one year high of $89.18.

W. R. Berkley (NYSE:WRB) last issued its quarterly earnings results on Wednesday, January 24th. The insurance provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. W. R. Berkley had a return on equity of 19.03% and a net margin of 11.38%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $2.70 billion. During the same period last year, the company earned $1.16 EPS. W. R. Berkley’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts expect that W. R. Berkley will post 5.98 EPS for the current year.

W. R. Berkley Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, March 4th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.54%. The ex-dividend date was Friday, March 1st. W. R. Berkley’s dividend payout ratio (DPR) is presently 8.70%.

Hedge Funds Weigh In On W. R. Berkley

Several institutional investors have recently added to or reduced their stakes in WRB. Bruce G. Allen Investments LLC acquired a new position in W. R. Berkley during the 4th quarter worth approximately $25,000. Glassman Wealth Services lifted its stake in W. R. Berkley by 123.1% in the 4th quarter. Glassman Wealth Services now owns 357 shares of the insurance provider’s stock valued at $25,000 after buying an additional 197 shares in the last quarter. Clear Street Markets LLC lifted its stake in shares of W. R. Berkley by 92.3% during the 1st quarter. Clear Street Markets LLC now owns 398 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 191 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of W. R. Berkley by 106.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 406 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 209 shares during the period. Finally, Raleigh Capital Management Inc. lifted its stake in shares of W. R. Berkley by 132.6% during the 3rd quarter. Raleigh Capital Management Inc. now owns 414 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 236 shares during the period. Institutional investors and hedge funds own 68.82% of the company’s stock.

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.