W. R. Berkley Corp (NYSE:WRB) announced a quarterly dividend on Thursday, June 6th, NASDAQ reports. Stockholders of record on Tuesday, June 18th will be paid a dividend of 0.11 per share by the insurance provider on Tuesday, July 2nd. This represents a $0.44 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Monday, June 17th. This is a boost from W. R. Berkley’s previous quarterly dividend of $0.10.
W. R. Berkley has raised its dividend payment by an average of 7.9% per year over the last three years and has increased its dividend annually for the last 9 consecutive years. W. R. Berkley has a dividend payout ratio of 11.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect W. R. Berkley to earn $2.82 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 15.6%.
Shares of W. R. Berkley stock traded up $0.40 during trading on Wednesday, hitting $64.49. 5,656 shares of the stock traded hands, compared to its average volume of 525,843. The firm has a market cap of $11.77 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 2.73 and a beta of 0.72. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.37 and a quick ratio of 0.37. W. R. Berkley has a twelve month low of $45.91 and a twelve month high of $64.63.
W. R. Berkley (NYSE:WRB) last announced its quarterly earnings results on Tuesday, April 23rd. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.31. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.62 billion. W. R. Berkley had a return on equity of 10.21% and a net margin of 8.47%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.87 EPS. As a group, equities research analysts predict that W. R. Berkley will post 2.61 earnings per share for the current year.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded W. R. Berkley from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a report on Wednesday, May 22nd. UBS Group lifted their price target on W. R. Berkley from $53.00 to $56.00 and gave the company a “sell” rating in a report on Wednesday, April 24th. Boenning Scattergood reiterated a “hold” rating on shares of W. R. Berkley in a report on Wednesday, April 24th. Royal Bank of Canada lifted their price target on W. R. Berkley to $60.00 and gave the company a “sector perform” rating in a report on Wednesday, April 24th. They noted that the move was a valuation call. Finally, ValuEngine lowered W. R. Berkley from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $55.86.
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About W. R. Berkley
W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.
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