In a report released today, Robert Farnam from Boenning & Scattergood maintained a Hold rating on WR Berkley (WRB). The company’s shares opened today at $56.68, close to its 52-week high of $56.87.
Farnam observed:
“We have updated WRB’s share count and all per-share metrics, both historical and expected. We revised our EPS estimates to reflect the new share count – we made no other changes to the estimates. WRB remains one of the top performing insurers in the sector and has a long track record of earnings stability and growth in shareholder value. It has a diverse portfolio of risks and the flexibility to grow or shrink business lines based on projected profit potential. 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.”
According to TipRanks.com, Farnam has 0 stars on 0-5 star ranking scale with an average return of -8.8% and a 28.6% 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.
Currently, the analyst consensus on WR Berkley is a Hold with an average price target of $77.
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Based on WR Berkley’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $132 million. In comparison, last year the company had a net profit of $166 million.
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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.
