In a report released today, Robert Farnam from Boenning & Scattergood maintained a Hold rating on WR Berkley (WRB). The company’s shares closed yesterday at $58.48, close to its 52-week high of $58.78.
Farnam commented:
“We believe WRB is well positioned to take advantage of any improvement in market conditions and we consider the stock an excellent core holding for longer-term investors. In the near-term, however, we don’t see much potential for the shares to outperform the market. Berkley’s P/B valuation (1.9x) is high relative to peers (1.5x) and its historical average (1.4x) – in our view, the stock isn’t particularly compelling today for short-term investors. We maintain our Neutral rating.”
According to TipRanks.com, Farnam has 0 stars on 0-5 star ranking scale with an average return of -7.8% and a 34.8% success rate. Farnam covers the Financial sector, focusing on stocks such as Argo Group International Holdings Ltd, 1347 Property Insurance Holdings Inc, and Hallmark Financial Services.
WR Berkley has an analyst consensus of Hold, with a price target consensus of $51.33.
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The company has a one-year high of $58.78 and a one-year low of $45.91. Currently, WR Berkley has an average volume of 368.4K.
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W.R. Berkley Corp. is an insurance holding company, which engages in the property casualty insurance business. It operates through the Insurance and Reinsurance segments.
