W. R. Berkley (NYSE:WRB) Price Target Raised to $70.00 at Wells Fargo & Company

W. R. Berkley (NYSE:WRB) had its target price upped by Wells Fargo & Company from $67.00 to $70.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 17.97% from the company’s current price.

WRB has been the topic of a number of other reports. Keefe, Bruyette & Woods lowered their price objective on W. R. Berkley from $59.00 to $58.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 22nd. Bank of America lifted their price target on shares of W. R. Berkley from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Morgan Stanley started coverage on shares of W. R. Berkley in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $65.00 price objective for the company. Truist Financial lifted their target price on shares of W. R. Berkley from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Barclays dropped their price target on shares of W. R. Berkley from $56.00 to $50.00 and set an “underweight” rating for the company in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, W. R. Berkley presently has an average rating of “Hold” and an average price target of $64.36.

W. R. Berkley Price Performance

Shares of W. R. Berkley stock opened at $59.34 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market cap of $22.61 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.04 and a beta of 0.67. The firm has a fifty day moving average price of $60.10 and a two-hundred day moving average price of $58.39. W. R. Berkley has a fifty-two week low of $50.73 and a fifty-two week high of $65.49.

W. R. Berkley (NYSE:WRB) last released its earnings results on Monday, January 27th. The insurance provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.18. W. R. Berkley had a net margin of 11.96% and a return on equity of 20.41%. Analysts expect that W. R. Berkley will post 3.95 EPS for the current year.

Hedge Funds Weigh In On W. R. Berkley

Institutional investors and hedge funds have recently bought and sold shares of the business. Wedmont Private Capital increased its stake in shares of W. R. Berkley by 2.3% in the fourth quarter. Wedmont Private Capital now owns 8,038 shares of the insurance provider’s stock valued at $456,000 after buying an additional 181 shares in the last quarter. Armstrong Advisory Group Inc. grew its holdings in W. R. Berkley by 51.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 209 shares during the last quarter. Exchange Traded Concepts LLC increased its position in W. R. Berkley by 1.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 15,632 shares of the insurance provider’s stock valued at $915,000 after acquiring an additional 235 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of W. R. Berkley by 1.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,631 shares of the insurance provider’s stock worth $773,000 after acquiring an additional 242 shares during the last quarter. Finally, PFS Partners LLC lifted its position in shares of W. R. Berkley by 51.1% during the third quarter. PFS Partners LLC now owns 719 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 243 shares in the last quarter. 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.