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Based in Greenwich, Connecticut, W. R. Berkley Corporation (WRB) is an insurance holding company that operates as a commercial line writer worldwide. Valued at a market cap of $22.5 billion, the company has more than 60 successful insurance businesses to help independent agents and brokers deliver commercial and high net-worth personal lines insurance solutions through expertise based on industry, product, and region.
Companies worth more than $10 billion are generally labeled as “large-cap” stocks, and W. R. Berkley fits this criterion perfectly. The company's long-term strategy of decentralized operations gives it a competitive edge since it enables each of its units to identify and respond quickly and effectively to changing market conditions and local customer needs.
Shares of WRB are trading 3.6% below their 52-week high of $61.28, which they hit on Sep. 4. The insurance company has gained 11.1% over the past three months, surpassing the broader Nasdaq Composite’s ($NASX) marginal decline over the same time frame.
In the longer term, WRB stock is up 25.3% on a YTD basis, surpassing NASX’s 18.1% gains. Shares of WRB have gained 38.1% over the past 52 weeks, outpacing NASX’s 29.3% returns over the same time frame.
To confirm its bullish trend, WRB has been trading above its 200-day moving average since early October 2023 and has remained above its 50-day moving average since late July.
Shares of WRB increased for four consecutive trading sessions after its Q2 earnings release on Jul. 22. The company reported revenue and earnings of $3.37 billion and $1.04 per share, which exceeded Street forecasts of $3.30 billion and $0.92 per share, respectively.
WRB has outpaced its rival, American Financial Group, Inc. (AFG), which has gained 20.7% over the past 52 weeks and 15.1% on a YTD basis.
Given that WRB outperformed the broader market, analysts remain moderately optimistic about its prospects. The stock has a consensus rating of “Moderate Buy” from the 14 analysts covering it, and the mean price target of $59.95 suggests a 1.9% premium to its current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
