Latest news with #JoshuaShanker
Business Insider
31-05-2025
- Business
- Business Insider
Analysts' Top Financial Picks: Visa (V), Arch Capital Group (ACGL)
There's a lot to be optimistic about in the Financial sector as 2 analysts just weighed in on Visa (V – Research Report) and Arch Capital Group (ACGL – Research Report) with bullish sentiments. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Arch Capital Group (ACGL) In a report released yesterday, Joshua Shanker from Bank of America Securities maintained a Buy rating on Arch Capital Group. The company's shares closed last Wednesday at $90.68, close to its 52-week low of $87.42. According to Shanker is a 5-star analyst with an average return of 8.1% and a 58.9% success rate. Shanker covers the Financial sector, focusing on stocks such as American International Group, Corebridge Financial, Inc., and Marsh & Mclennan Companies. Arch Capital Group has an analyst consensus of Strong Buy, with a price target consensus of $111.08, which is a 25.6% upside from current levels. In a report released yesterday, Roth MKM also maintained a Buy rating on the stock with a $125.00 price target.
CNBC
28-04-2025
- Business
- CNBC
Bank of America upgrades this insurance stock after downgrading it earlier this month
Bank of America has quickly changed its mind on insurance stock Progressive . BofA upgraded Progressive back to buy on Monday, after downgrading the stock to neutral just three weeks ago, and raised its price target to $312 per share from $297. The firm's forecast calls for roughly 18% upside from Friday's $265.01 close. "This is a lot of 12mo upside for what has arguably been the S & P 100 stock with the best risk-adjusted returns over the prior decade," analyst Joshua Shanker said of the upgrade. PGR YTD mountain Progressive stock in 2025. The switch is "an uncommonly short time to reverse a recommendation change," he noted. Shanker attributed the reversal of opinion on Progressive stock to its sharp underperformance of the S & P 500 in the 15 trading sessions between the initial downgrade and upgrade today as well as earnings result that showed a burst in new personal auto customers. Progressive stock slipped 8% over the time period, Shanker noted, which equates to underperforming the S & P 500 by 1,000 basis points, a move that could be overdone. "Progressive is arguably the best operator within its niches of the insurance market with continued opportunity for market share gain and economies of scale growth," the analyst said. Shanker also pointed to Progressive's strong first-quarter results which he said saw the company notch its best March ever on a percentage basis. Progressive stock has ticked up about 10% so far in 2025 and was up 1.8% Monday morning in premarket trade. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today's dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You'll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!
Yahoo
03-04-2025
- Business
- Yahoo
W.R. Berkley Nears Historical Price-To-Book High, Analyst Downgrades Stock On Overvaluation Concerns
BofA Securities analyst Joshua Shanker downgraded W.R. Berkley Corporation (NYSE:WRB) from Buy to Neutral, raising the price forecast to $74 from $73. The analyst suggests that Mitsui-Sumitomo's plan to acquire a 15% stake in W.R. Berkley may not lead to a takeover soon, though it could be a long-term option. The analyst mentions that W.R. Berkley is currently trading at 3.0 times its estimated book value for March 31, which is close to the highest point it's ever reached, matching levels seen in April 2006 and November 2022. This trend of high price-to-book ratios is also observed in other large commercial property and casualty insurance companies, which are generally considered to be overvalued at the moment. The high price-to-book ratio for W.R. Berkley is largely attributed to its strong return on equity, which is currently in the high teens, driving the elevated valuation despite the company not being as overvalued on a price-to-earnings basis. Also Read: Shanker suggests that Berkley benefits from lower exposure to casualty volatility compared to its peer stocks, and although some bearish investors are concerned about potential inadequacies in loss reserves (with short covering possibly explaining the recent stock surge), they believe Berkley is not facing greater challenges regarding loss trends than the industry as a whole. Shanker states that, in general, they view commercial P&C underwriters as overvalued. The analyst notes that Berkley has better potential due to its higher return on equity, lower property risk, and the presence of a dedicated buyer in the market. Despite this, Shanker sees limited upside for Berkley, which leads to a Neutral recommendation. The analyst also mentions that some unique factors specific to Berkley's stock prevent them from recommending an Underperform rating at the current stock price. Price Action: WRB shares are trading lower by 1.41% to $70.16 at last check Tuesday. Read Next:Image via Shutterstock. Date Firm Action From To Dec 2021 Evercore ISI Group Initiates Coverage On Outperform Dec 2021 Truist Securities Initiates Coverage On Buy Oct 2021 RBC Capital Maintains Outperform View More Analyst Ratings for WRB View the Latest Analyst Ratings UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article W.R. Berkley Nears Historical Price-To-Book High, Analyst Downgrades Stock On Overvaluation Concerns originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
