W. R. Berkley Corp (WRB) Expected to Announce Quarterly Sales of $1.77 Billion
Analysts predict that W. R. Berkley Corp (NYSE:WRB) will post $1.77 billion in sales for the current quarter, Zacks reports. Two analysts have issued estimates for W. R. Berkley Corp’s earnings. The lowest sales estimate is $1.76 billion and the highest is $1.77 billion. W. R. Berkley Corp reported sales of $1.69 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The business is scheduled to issue its next earnings report on Monday, July 24th.
According to Zacks, analysts expect that W. R. Berkley Corp will report full-year sales of $1.77 billion for the current fiscal year, with estimates ranging from $7.03 billion to $7.24 billion. For the next fiscal year, analysts expect that the company will report sales of $7.31 billion per share, with estimates ranging from $7.29 billion to $7.33 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow W. R. Berkley Corp.
Several research firms recently commented on WRB. Keefe, Bruyette & Woods reissued a “hold” rating and set a $67.00 target price on shares of W. R. Berkley Corp in a research note on Wednesday. Zacks Investment Research lowered shares of W. R. Berkley Corp from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 30th. Boenning Scattergood reissued a “neutral” rating on shares of W. R. Berkley Corp in a research note on Thursday, March 2nd. Finally, Langen Mcalenn reissued a “neutral” rating on shares of W. R. Berkley Corp in a research note on Tuesday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $62.00.
W. R. Berkley Corp (NYSE:WRB) opened at 67.11 on Friday. The stock has a market capitalization of $8.14 billion, a PE ratio of 14.25 and a beta of 0.73. The stock’s 50 day moving average is $67.99 and its 200-day moving average is $66.87. W. R. Berkley Corp has a 52 week low of $54.70 and a 52 week high of $73.17.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Thursday, June 15th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This is a positive change from W. R. Berkley Corp’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 0.83%. W. R. Berkley Corp’s dividend payout ratio is currently 11.06%.
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Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. raised its stake in W. R. Berkley Corp by 98.9% in the first quarter. Point72 Asset Management L.P. now owns 132,100 shares of the insurance provider’s stock valued at $9,330,000 after buying an additional 65,700 shares in the last quarter. Janus Capital Management LLC raised its stake in W. R. Berkley Corp by 703.9% in the first quarter. Janus Capital Management LLC now owns 431,245 shares of the insurance provider’s stock valued at $30,459,000 after buying an additional 377,600 shares in the last quarter. Jane Street Group LLC acquired a new stake in W. R. Berkley Corp during the first quarter valued at approximately $605,000. AQR Capital Management LLC raised its stake in W. R. Berkley Corp by 14.3% in the first quarter. AQR Capital Management LLC now owns 347,177 shares of the insurance provider’s stock valued at $24,521,000 after buying an additional 43,552 shares in the last quarter. Finally, State Street Corp raised its stake in W. R. Berkley Corp by 2.5% in the first quarter. State Street Corp now owns 3,898,743 shares of the insurance provider’s stock valued at $275,369,000 after buying an additional 94,402 shares in the last quarter. 71.79% of the stock is owned by institutional investors and hedge funds.
W. R. Berkley Corp Company Profile
W. R. Berkley Corporation is an insurance holding company. It operates through two segments: Insurance and Reinsurance-Global. The Insurance segment consists of its commercial insurance business operations, comprising excess and surplus lines, and admitted lines, throughout the United States, as well as its insurance business operations in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.
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