W. R. Berkley (NYSE:WRB) Price Target Lowered to $44.67 at Morgan Stanley

W. R. Berkley (NYSE:WRBGet Rating) had its target price cut by equities research analysts at Morgan Stanley from $67.00 to $44.67 in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has an “equal weight” rating on the insurance provider’s stock. Morgan Stanley’s target price indicates a potential downside of 34.28% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Wolfe Research raised W. R. Berkley from a “market perform” rating to an “outperform” rating and set a $70.67 target price on the stock in a research note on Thursday, February 3rd. Wells Fargo & Company lifted their target price on W. R. Berkley from $65.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, April 12th. Zacks Investment Research downgraded W. R. Berkley from a “buy” rating to a “hold” rating and set a $70.00 target price on the stock. in a research note on Wednesday, April 6th. StockNews.com began coverage on W. R. Berkley in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Royal Bank of Canada raised their price target on W. R. Berkley from $63.00 to $75.00 in a report on Friday, April 8th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $64.33.

NYSE WRB opened at $67.97 on Thursday. The stock’s 50-day moving average price is $64.82 and its 200-day moving average price is $58.11. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.49. W. R. Berkley has a 52 week low of $47.13 and a 52 week high of $71.53. The company has a market capitalization of $18.02 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 2.07 and a beta of 0.80.

W. R. Berkley (NYSE:WRBGet Rating) last posted its quarterly earnings data on Thursday, January 27th. The insurance provider reported $1.02 EPS for the quarter, topping the consensus estimate of $0.81 by $0.21. W. R. Berkley had a return on equity of 14.45% and a net margin of 10.81%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the company earned $0.61 earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. Research analysts anticipate that W. R. Berkley will post 3.67 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Liberty Wealth Management LLC boosted its holdings in shares of W. R. Berkley by 1,431.8% in the 3rd quarter. Liberty Wealth Management LLC now owns 337 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 315 shares during the period. Consolidated Planning Corp purchased a new position in shares of W. R. Berkley in the 3rd quarter worth approximately $25,000. Covestor Ltd purchased a new position in shares of W. R. Berkley in the 4th quarter worth approximately $36,000. Gemmer Asset Management LLC boosted its holdings in shares of W. R. Berkley by 49.9% in the 1st quarter. Gemmer Asset Management LLC now owns 532 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 177 shares during the period. Finally, Quent Capital LLC purchased a new position in shares of W. R. Berkley in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 74.74% of the company’s stock.

About W. R. Berkley (Get Rating)

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

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