W.R. Berkley Corp. (WRB) Receives Consensus Recommendation of “Hold” from Analysts
W.R. Berkley Corp. (NYSE:WRB) has been assigned an average rating of “Hold” from the six brokerages that are presently covering the firm. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $56.25.
WRB has been the topic of a number of research analyst reports. Zacks Investment Research raised W.R. Berkley Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday, September 27th. Credit Suisse Group AG set a $52.00 price target on W.R. Berkley Corp. and gave the stock a “sell” rating in a research report on Monday, September 12th. Royal Bank Of Canada raised their price target on W.R. Berkley Corp. from $57.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 13th. Finally, Compass Point raised their price target on W.R. Berkley Corp. from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 26th.
W.R. Berkley Corp. (NYSE:WRB) traded up 0.355% during midday trading on Wednesday, reaching $58.266. The company’s stock had a trading volume of 80,948 shares. W.R. Berkley Corp. has a 1-year low of $47.54 and a 1-year high of $60.08. The firm has a 50 day moving average price of $57.88 and a 200 day moving average price of $57.32. The firm has a market capitalization of $7.15 billion, a PE ratio of 15.285 and a beta of 0.82.
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W.R. Berkley Corp. (NYSE:WRB) last released its quarterly earnings results on Monday, July 25th. The company reported $0.82 EPS for the quarter, topping the Zacks’ 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 return on equity of 9.53% and a net margin of 6.69%. W.R. Berkley Corp.’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 earnings per share. On average, analysts predict that W.R. Berkley Corp. will post $3.41 EPS for the current year.
The business also recently declared a dividend, which was paid on Wednesday, October 5th. Shareholders of record on Tuesday, September 20th were paid a $0.63 dividend. This is an increase from W.R. Berkley Corp.’s previous dividend of $0.12. The ex-dividend date was Friday, September 16th. W.R. Berkley Corp.’s dividend payout ratio (DPR) is currently 13.65%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Atlanta Capital Management Co. L L C bought a new position in W.R. Berkley Corp. during the second quarter worth $126,946,000. Victory Capital Management Inc. increased its position in W.R. Berkley Corp. by 112.7% in the second quarter. Victory Capital Management Inc. now owns 1,474,402 shares of the company’s stock worth $88,347,000 after buying an additional 781,179 shares in the last quarter. PGGM Investments increased its position in W.R. Berkley Corp. by 181.2% in the second quarter. PGGM Investments now owns 604,299 shares of the company’s stock worth $36,210,000 after buying an additional 389,421 shares in the last quarter. Eaton Vance Management bought a new position in W.R. Berkley Corp. during the second quarter worth $22,672,000. Finally, BlackRock Fund Advisors increased its position in W.R. Berkley Corp. by 8.3% in the second quarter. BlackRock Fund Advisors now owns 4,506,370 shares of the company’s stock worth $270,022,000 after buying an additional 346,404 shares in the last quarter. Hedge funds and other institutional investors own 70.95% of the company’s stock.
About W.R. Berkley Corp.
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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