why W. R. Berkley Corporation [WRB] is a Good Choice for Investors After New Price Target of $80.09

W. R. Berkley Corporation [NYSE: WRB] gained 0.84% or 0.53 points to close at $63.36 with a heavy trading volume of 2620095 shares. The company report on April 20, 2023 at 4:10 PM that W. R. Berkley Corporation Reports First Quarter Results.

Return on Equity of 17.4%;.

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Quarterly Net Investment Income of $223 Million Driven By Core Portfolio Increase of 80.7%.

It opened the trading session at $62.96, the shares rose to $63.46 and dropped to $62.19, the range by which the price of stock traded the whole day. The daily chart for WRB points out that the company has recorded -11.15% loss over the past six months. However, it is still -7.54% lower than its most recent low trading price.

If we look at the average trading volume of 1.52M shares, WRB reached to a volume of 2620095 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about W. R. Berkley Corporation [WRB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WRB shares is $80.09 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WRB stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for W. R. Berkley Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 15, 2023. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price to Market Perform. The new note on the price target was released on January 20, 2023, representing the official price target for W. R. Berkley Corporation stock. Previously, the target price had yet another raise to $88, while Janney analysts kept a Buy rating on WRB stock. On September 06, 2022, analysts increased their price target for WRB shares from 77 to 80.

The Average True Range (ATR) for W. R. Berkley Corporation is set at 1.20, with the Price to Sales ratio for WRB stock in the period of the last 12 months amounting to 1.52. The Price to Book ratio for the last quarter was 2.60, with the Price to Cash per share for the same quarter was set at 5.40. Price to Free Cash Flow for WRB in the course of the last twelve months was 7.44.

Trading performance analysis for WRB stock

W. R. Berkley Corporation [WRB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.12. With this latest performance, WRB shares gained by 1.38% in over the last four-week period, additionally sinking by -11.15% over the last 6 months – not to mention a drop of -7.10% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WRB stock in for the last two-week period is set at 52.77, with the RSI for the last a single of trading hit 58.46, and the three-weeks RSI is set at 49.03 for W. R. Berkley Corporation [WRB]. The present Moving Average for the last 50 days of trading for this stock 64.07, while it was recorded at 62.62 for the last single week of trading, and 67.82 for the last 200 days.

W. R. Berkley Corporation [WRB]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WRB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for W. R. Berkley Corporation go to 9.00%.

An analysis of insider ownership at W. R. Berkley Corporation [WRB]

There are presently around $12,044 million, or 71.00% of WRB stock, in the hands of institutional investors. The top three institutional holders of WRB stocks are: VANGUARD GROUP INC with ownership of 25,400,556, which is approximately 1.085% of the company’s market cap and around 5.70% of the total institutional ownership; BLACKROCK INC., holding 14,366,981 shares of the stock with an approximate value of $902.68 million in WRB stocks shares; and MORGAN STANLEY, currently with $684.79 million in WRB stock with ownership of nearly 427.153% of the company’s market capitalization.

361 institutional holders increased their position in W. R. Berkley Corporation [NYSE:WRB] by around 20,956,679 shares. Additionally, 299 investors decreased positions by around 13,611,130 shares, while 113 investors held positions by with 157,124,985 shares. The mentioned changes placed institutional holdings at 191,692,794 shares, according to the latest SEC report filing. WRB stock had 98 new institutional investments in for a total of 2,607,033 shares, while 63 institutional investors sold positions of 2,032,782 shares during the same period.


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