Wells Fargo analyst Elyse Greenspan maintains $WR Berkley (WRB.US)$ with a buy rating, and adjusts the target price from $59 to $63.
According to TipRanks data, the analyst has a success rate of 64.5% and a total average return of 8.6% 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 marked by significant global catastrophe events, yet the expectation is that the losses related to these events will be manageable for property and casualty insurers. This includes the anticipated losses from Hurricane Milton, despite the uncertainties that persist following its recent landfall. The adjustments in expectations reflect the events that have transpired throughout the quarter and the alterations in P/E multiples.
Q3 outcomes, particularly in the reinsurance segment, might be eclipsed by the recent weather events, with a more favorable view towards the Personal segment due to ameliorating margins and growing policies-in-force. The expectation for the third quarter is for catastrophe losses to remain below the five-year seasonal norm, yet still considerably higher than the same quarter in the previous year, which might pose potential challenges 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.
