W.R. Berkley Corp. (WRB) Shares Gap Up to $57.14
W.R. Berkley Corp. (NYSE:WRB) gapped up prior to trading on Tuesday . The stock had previously closed at $56.93, but opened at $57.14. W.R. Berkley Corp. shares last traded at $57.50, with a volume of 139,774 shares traded.
Several equities research analysts have weighed in on the stock. Compass Point increased their target price on shares of W.R. Berkley Corp. from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, July 26th. Zacks Investment Research upgraded shares of W.R. Berkley Corp. from a “sell” rating to a “hold” rating in a report on Friday, August 19th. Royal Bank Of Canada increased their target price on shares of W.R. Berkley Corp. from $57.00 to $61.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 13th. Finally, Credit Suisse Group AG set a $52.00 target price on shares of W.R. Berkley Corp. and gave the stock a “sell” rating in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $56.33.
The company has a market capitalization of $7.06 billion, a P/E ratio of 15.08 and a beta of 0.80. The stock has a 50 day moving average of $58.21 and a 200 day moving average of $56.80.
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W.R. Berkley Corp. (NYSE:WRB) last announced its quarterly earnings results on Monday, July 25th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.96 billion. W.R. Berkley Corp. had a net margin of 6.69% and a return on equity of 9.53%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 EPS. On average, analysts expect that W.R. Berkley Corp. will post $3.41 EPS for the current fiscal year.
The business also recently declared a dividend, which will be paid on Wednesday, October 5th. Investors of record on Tuesday, September 20th will be issued a dividend of $0.63 per share. The ex-dividend date is Friday, September 16th. This is a positive change from W.R. Berkley Corp.’s previous dividend of $0.12. W.R. Berkley Corp.’s payout ratio is 13.65%.
A number of large investors have recently bought and sold shares of WRB. Advisor Group Inc. acquired a new stake in W.R. Berkley Corp. during the second quarter worth $125,000. Sei Investments Co. raised its stake in W.R. Berkley Corp. by 4.4% in the second quarter. Sei Investments Co. now owns 2,273 shares of the company’s stock worth $136,000 after buying an additional 96 shares during the last quarter. Brightworth acquired a new stake in W.R. Berkley Corp. during the second quarter worth $213,000. Smith Salley & Associates acquired a new stake in W.R. Berkley Corp. during the second quarter worth $222,000. Finally, Glenmede Trust Co. NA raised its stake in W.R. Berkley Corp. by 52.2% in the second quarter. Glenmede Trust Co. NA now owns 4,387 shares of the company’s stock worth $262,000 after buying an additional 1,505 shares during the last quarter. 71.00% of the stock is currently owned by hedge funds and other institutional investors.
W.R. Berkley Corp. Company Profile
W. R. Berkley Corporation is an insurance holding company. The Company operates in the three segments of the property casualty insurance business: Insurance-Domestic, Insurance-International and Reinsurance-Global. Its Insurance-Domestic segment includes commercial insurance business, including excess and surplus lines and admitted lines, primarily throughout the United States.
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