UBS analyst Brian Meredith maintains $WR Berkley (WRB.US)$ with a buy rating, and adjusts the target price from $67 to $69.
According to TipRanks data, the analyst has a success rate of 79.1% and a total average return of 14.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $WR Berkley (WRB.US)$'s main analysts recently are as follows:
Following Q3 results, the expectation for W. R. Berkley's valuation has increased, with the recognition that it has historically maintained a significant premium compared to peer multiples. This is attributed to its long-term success in growing equity at a rate surpassing that of other top-performing peers.
The company's Q3 outcomes were consistent, displaying strong combined ratios even amidst heightened catastrophe losses. Although there was an uptick in the expense ratio, attributed to growth initiatives and technological investments, and a slight slowdown in premium growth compared to previous rates, the management remains optimistic about growth prospects throughout various sectors of the business.
After W. R. Berkley revealed Q3 operating EPS of 93c, exceeding both the expected 90c estimate and the consensus forecast of 92c, it is believed to have been a solid quarter, although it may have slightly underwhelmed in comparison to peer results, given that net premium growth fell short and rate hikes were modest. There's indication of rate gains in auto and other liability coverages, but it's challenging to foresee rates climbing sufficiently across the insurer's portfolio to reach the anticipated 10%-15% growth in Q4. It seems that the consensus viewpoint aligns with this perspective.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
