BofA Securities analyst Joshua Shanker maintains $WR Berkley (WRB.US)$ with a buy rating, and adjusts the target price from $65 to $73.
According to TipRanks data, the analyst has a success rate of 64.4% and a total average return of 11.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $WR Berkley (WRB.US)$'s main analysts recently are as follows:
The third quarter was notable for numerous worldwide catastrophe events. It is anticipated that the catastrophe losses for this period will remain 'manageable' for property and casualty insurers. Models for the fourth quarter include provisional losses for Hurricane Milton, though there is still uncertainty given the storm's recent landfall. Changes in targets within the group are reflective of occurrences over the quarter and adjustments in various P/E multiples.
The analytical perspective suggests that Q3 results, especially for reinsurers, might be influenced by the recent Hurricane Milton. There is a positive outlook on the Personal segment due to improving margins and an increase in policies-in-force. For Q3, catastrophe losses are anticipated to be below the five-year seasonal average, yet notably higher than in the same quarter of the previous year, implying a potential downside for primary insurers.
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.
