W.R. Berkley Corporation (WRB) Shares Tick Up after Upgrade at Macquarie

W.R. Berkley Corporation (NYSE: WRB) shares rose in value on Tuesday January 17 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.

Meanwhile, in early trade, the Dow Jones Industrial Average was 47 points lower, or 0.24% to 19838, the S&P 500 fell 7 points, or 0.29% to 2267, while the Nasdaq was down 19 points, or 0.35% to 5554.

Stock Picks and Investing in the Stock Market

Analysts at Macquarie upgraded shares of W.R. Berkley Corporation (NYSE: WRB) from to Outperform today. Macquarie currently has a rating of Outperform on the stock. A number of other analysts have spoken on the company in recent days, and W.R. Berkley Corporation has secured a consensus one-year price target of $61.30, a decrease compared to the opening price of $67.54, a difference of 9.11 percent. W.R. Berkley Corporation stock has a 52-week high of $67.86. Share prices often trend to the upside on recommendations and new price targets of professional brokerage firms.

Yesterday W.R. Berkley Corporation (NYSE: WRB) shares last traded at $67.31, an increase of $0.19 from the previous closing price. Opening at $67.54, they ranged from $66.75 and $67.65 throughout the day.

W.R. Berkley Corporation (NYSE: WRB) now has a market cap of 8.17B.

W.R. Berkley Corporation (NYSE: WRB) Average Daily Trading Volume

The stock’s average daily volume is 388,629 shares out of a total float 96,207,000 and some 68,902 shares traded hands yesterday, 22 percent below the average. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.

However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.

Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors retain teams of analysts that research thousands of stocks, so it is good validation to see them taking a postion in a stock you’re considering.

W.R. Berkley Corporation (NYSE: WRB) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.

With that in mind, W.R. Berkley Corporation (NYSE: WRB) now has a 50-day MA of $65.39 and 200-day MA of $59.93. It has traded in a 52-week range between $47.54 – 67.86 and today’s last price is 0.81%% lower than the 52 week high of $67.86.

Earnings growth is an important factor to look at when investing in stocks and investors look for companies that have been successful at growing their earnings by at least 25% over the past 3 years.

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