UBS Maintains a 'Neutral' on W.R. Berkley (WRB); CEO Comments From Conference
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Price: $42.58 +0.52%
Rating Summary:
0 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
0 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade WRB Now!
UBS maintains a 'Neutral' on W.R. Berkley (NYSE: WRB) price target raised from $37 to $39.
Analyst, Brian Meredith, said, "WRB's CEO is targeting a high-teens return on capital in 2013, which appears well above that suggested by current consensus EPS estimates. The return target reflects: (1) underwriting margin expansion, as pricing continues to outpace loss costs; (2) increased operating leverage as the market hardens; and (3) investment portfolio shifts to offset some of the yield shrinkage from low new-money rates."
"WRB sees further price increases to 8%-9% by late 2012 and 10%-13% in 2013, with no near-term change from current 2%-3% loss cost trend. Especially in light of benign loss costs, the CEO views the company’s loss reserve position as stronger than ever (with individual lines’ and aggregate reserves at 60% and 68% of the actuarial ranges)."
For an analyst ratings summary and ratings history on W.R. Berkley click here. For more ratings news on W.R. Berkley click here.
Shares of W.R. Berkley closed at $38.97 yesterday, with a 52 week range of $27.26-$38.98.
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Analyst, Brian Meredith, said, "WRB's CEO is targeting a high-teens return on capital in 2013, which appears well above that suggested by current consensus EPS estimates. The return target reflects: (1) underwriting margin expansion, as pricing continues to outpace loss costs; (2) increased operating leverage as the market hardens; and (3) investment portfolio shifts to offset some of the yield shrinkage from low new-money rates."
"WRB sees further price increases to 8%-9% by late 2012 and 10%-13% in 2013, with no near-term change from current 2%-3% loss cost trend. Especially in light of benign loss costs, the CEO views the company’s loss reserve position as stronger than ever (with individual lines’ and aggregate reserves at 60% and 68% of the actuarial ranges)."
For an analyst ratings summary and ratings history on W.R. Berkley click here. For more ratings news on W.R. Berkley click here.
Shares of W.R. Berkley closed at $38.97 yesterday, with a 52 week range of $27.26-$38.98.
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