Keefe, Bruyette & Woods Reiterates Hold Rating for W.R. Berkley (NYSE:WRB)

W.R. Berkley (NYSE:WRB)‘s stock had its “hold” rating restated by analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Friday, November 17th. They currently have a $69.00 price target on the insurance provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential downside of 0.75% from the stock’s current price.

Several other research firms have also weighed in on WRB. Royal Bank Of Canada reissued a “hold” rating and set a $72.00 price objective on shares of W.R. Berkley in a research note on Tuesday, August 29th. BidaskClub cut W.R. Berkley from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Deutsche Bank raised their target price on W.R. Berkley from $65.00 to $66.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Bank of America raised their target price on W.R. Berkley from $73.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of W.R. Berkley in a report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $69.14.

W.R. Berkley (WRB) opened at $69.52 on Friday. W.R. Berkley has a 1 year low of $61.78 and a 1 year high of $73.17. The stock has a market capitalization of $8,467.19, a price-to-earnings ratio of 27.48, a PEG ratio of 3.18 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.34 and a current ratio of 0.34.

W.R. Berkley declared that its board has approved a share repurchase program on Tuesday, August 8th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the insurance provider to purchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in shares of W.R. Berkley by 683.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,566 shares of the insurance provider’s stock worth $108,000 after purchasing an additional 1,366 shares during the period. IFP Advisors Inc grew its position in W.R. Berkley by 6.9% during the second quarter. IFP Advisors Inc now owns 2,207 shares of the insurance provider’s stock worth $153,000 after buying an additional 143 shares in the last quarter. Massey Quick Simon & CO. LLC acquired a new stake in W.R. Berkley during the third quarter worth about $175,000. Parametrica Management Ltd acquired a new stake in W.R. Berkley during the second quarter worth about $203,000. Finally, Advisor Partners LLC acquired a new stake in W.R. Berkley during the second quarter worth about $213,000. Institutional investors and hedge funds own 70.96% of the company’s stock.

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About W.R. Berkley

W. R. Berkley Corporation is an insurance holding company. It operates through two segments: Insurance and Reinsurance-Global. The Insurance segment consists of its commercial insurance business operations, comprising excess and surplus lines, and admitted lines, throughout the United States, as well as its insurance business operations in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.

Analyst Recommendations for W.R. Berkley (NYSE:WRB)

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