According to Zacks, “W.R. Berkley has invested in a number of startups since 2006 which enables it to take advantage of an improved market scenario. Formation of operating units in North and Southeast Asia is in tandem with the strategy. Also, the divestment of wholly owned investment is expected to enhance long term shareholder’s value. Its international business has potential for long-term earnings growth. Reserving discipline and strong capital position are other positives. The recent formation of Berkley Transactional will help it to benefit from opportunities offered by the insurance market. The Zacks Consensus Estimates for 2016 has also witnessed upward revision over the last few weeks. However, W.R. Berkley’s exposure to highly competitive insurance market along with low interest rate scenario and cat losses raises concerns. Yet, riding on solid operational performance, the company has delivered positive surprise in each of the last four quarters.”
WRB has been the topic of a number of other reports. Compass Point lifted their price target on shares of W.R. Berkley Corp. from $55.00 to $60.00 and gave the company a neutral rating in a research report on Tuesday, July 26th. Credit Suisse Group AG set a $52.00 price target on shares of W.R. Berkley Corp. and gave the company a sell rating in a research report on Monday, September 12th. Finally, Royal Bank Of Canada lifted their price target on shares of W.R. Berkley Corp. from $57.00 to $61.00 and gave the company a sector perform rating in a research report on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock currently has an average rating of Hold and an average target price of $56.83.
W.R. Berkley Corp. (NYSE:WRB) opened at 57.49 on Friday. The stock has a market capitalization of $7.06 billion, a P/E ratio of 15.08 and a beta of 0.82. The company has a 50 day moving average of $57.92 and a 200-day moving average of $57.23. W.R. Berkley Corp. has a 52-week low of $47.54 and a 52-week high of $60.08.
W.R. Berkley Corp. (NYSE:WRB) last released its earnings results on Monday, July 25th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.05. W.R. Berkley Corp. had a net margin of 6.69% and a return on equity of 9.53%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the company earned $0.81 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Equities research analysts anticipate that W.R. Berkley Corp. will post $3.41 EPS for the current year.
The company also recently announced a dividend, which was paid on Wednesday, October 5th. Stockholders of record on Tuesday, September 20th were given a dividend of $0.63 per share. This is a boost from W.R. Berkley Corp.’s previous dividend of $0.12. The ex-dividend date of this dividend was Friday, September 16th. W.R. Berkley Corp.’s payout ratio is presently 13.65%.
Several hedge funds and other institutional investors have recently bought and sold shares of WRB. Capstone Asset Management Co. boosted its position in W.R. Berkley Corp. by 0.8% in the second quarter. Capstone Asset Management Co. now owns 12,247 shares of the company’s stock worth $734,000 after buying an additional 92 shares during the last quarter. Sei Investments Co. raised its stake in shares of 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 period. Cutler Group LP raised its stake in shares of W.R. Berkley Corp. by 2.0% in the first quarter. Cutler Group LP now owns 5,068 shares of the company’s stock worth $284,000 after buying an additional 100 shares during the period. KLCM Advisors Inc. raised its stake in shares of W.R. Berkley Corp. by 0.6% in the second quarter. KLCM Advisors Inc. now owns 16,084 shares of the company’s stock worth $1,175,000 after buying an additional 100 shares during the period. Finally, Fairfield Bush & CO. raised its stake in shares of W.R. Berkley Corp. by 1.3% in the second quarter. Fairfield Bush & CO. now owns 12,206 shares of the company’s stock worth $731,000 after buying an additional 153 shares during the period. 70.99% of the stock is currently owned by institutional investors and hedge funds.
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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