W. R. Berkley (NYSE:WRB – Get 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.
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.
- Get a free copy of the StockNews.com research report on W. R. Berkley (WRB)
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