WR Berkley (NYSE:WRB) elevated to outperform at Keefe, Bruyette & Woods

WR Berkley (NYSE:WRB – Get a Rating) was upgraded by equity research analysts Keefe, Bruyette & Woods from a “market performer” rating to an “outperformer” rating in a research note released on Monday, reports The Fly.

WRB has been the subject of several other research reports. Morgan Stanley raised its price target on shares of WR Berkley from $70.00 to $72.00 and gave the stock an “equal weight” rating in a Friday, Aug. 19 research note. StockNews.com downgraded WR Berkley shares from a “buy” rating to a “hold” rating in a Monday, July 25 research report. Argus began covering WR Berkley shares in a research report on Wednesday, August 3. They set a “buy” rating and a price target of $72.00 for the company. Wells Fargo & Company raised its price target on WR Berkley shares to $83.00 in a Friday, July 22 research report. Finally, Jefferies Financial Group raised its price target on WR Berkley shares from $67.00 to $70.00 and gave the company a “holding” rating in a Tuesday, July 12 research report. Three investment analysts gave the stock a hold rating and nine gave the company a buy rating. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $71.50.

WR Berkley Stock down 0.3%

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NYSE WRB shares traded down $0.21 during Monday’s trading, hitting $64.77. The stock recorded a trading volume of 32,679 shares, compared to an average volume of 1,401,133 shares. WR Berkley has a 12-month low of $47.13 and a 12-month high of $72.32. The company has a debt ratio of 0.43, a current ratio of 0.39 and a quick ratio of 0.39. The company has a market capitalization of $17.18 billion, a PE ratio of 13.63, a PEG ratio of 1.76 and a beta of 0.62. The company has a fifty-day moving average of $65.32 and a two-hundred-day moving average of $65.77.

WR Berkley (NYSE:WRB – Get Rating) last released its results on Thursday, July 21. The insurance provider reported earnings per share (EPS) of $1.12 for the quarter, beating the consensus estimate of $0.84 by $0.28. WR Berkley had a net margin of 12.71% and a return on equity of 17.26%. The company posted revenue of $2.68 billion in the quarter, versus analyst estimates of $2.56 billion. In the same quarter a year earlier, the company posted EPS of $0.78. As a group, equity research analysts expect WR Berkley to post 4.1 EPS for the current fiscal year.

Insider Buying and Selling at WR Berkley

Separately, Brockbank director Mark Ellwood bought 4,566 shares in a trade dated Friday, July 29. The shares were purchased at an average cost of $62.00 per share, with a total value of $283,092.00. Following the completion of the acquisition, the administrator now owns 4,566 shares of the company, valued at approximately $283,092. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders hold 22.50% of the shares of the company.

Institutional investors weigh in on WR Berkley

A number of institutional investors and hedge funds have recently changed their holdings in WRB. SG Americas Securities LLC increased its holdings of WR Berkley shares by 183.7% in the fourth quarter. SG Americas Securities LLC now owns 6,336 shares of the insurance provider worth $522,000 after buying 4,103 additional shares last quarter. Brinker Capital Investments LLC bought a new stock position in WR Berkley in the fourth quarter worth about $385,000. Dimensional Fund Advisors LP increased its position in WR Berkley shares by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,452,381 shares of the insurance provider worth $119,650,000 after buying 5,626 additional shares in the last quarter. UMB Bank NA MO bought a new stock position in WR Berkley in the fourth quarter for a value of approximately $388,000. Finally, Connor Clark & ​​Lunn Investment Management Ltd. bought a new position in WR Berkley stock in the fourth quarter worth approximately $1,688,000. 69.05% of the shares are held by hedge funds and other institutional investors.

About WR Berkley

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WR Berkley Corporation, an insurance holding company, operates as a commercial line writer in the United States and abroad. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, product liability, and general and professional liability.

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Analyst Recommendations for WR Berkley (NYSE: WRB)

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

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