W.R. Berkley Corporation (WRB) to Issue Quarterly Dividend of $0.10 on July 2nd

W.R. Berkley Corporation (NYSE:WRB) announced a quarterly dividend on Wednesday, June 3rd. Shareholders of record on Tuesday, June 23rd will be given a dividend of 0.10 per share by the insurance provider on Thursday, July 2nd. This represents a c) annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, June 23rd. This is a 11.1% increase from W.R. Berkley’s previous quarterly dividend of $0.09.

W.R. Berkley has raised its dividend by an average of 0.5%annually over the last three years and has increased its dividend every year for the last 23 years. W.R. Berkley has a dividend payout ratio of 7.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect W.R. Berkley to earn $4.81 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 7.5%.

W.R. Berkley Trading Up 1.6%

WRB opened at $66.35 on Friday. The firm’s fifty day moving average is $66.32 and its two-hundred day moving average is $68.86. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market cap of $24.70 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 3.09 and a beta of 0.30. W.R. Berkley has a twelve month low of $62.87 and a twelve month high of $78.96.

W.R. Berkley (NYSE:WRB) last posted its earnings results on Tuesday, April 21st. The insurance provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.17. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.18 billion. W.R. Berkley had a net margin of 12.64% and a return on equity of 18.92%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $1.01 earnings per share. Equities research analysts anticipate that W.R. Berkley will post 4.67 EPS for the current year.

Wall Street Analysts Forecast Growth

WRB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods dropped their price objective on shares of W.R. Berkley from $74.00 to $66.00 and set a “market perform” rating on the stock in a report on Wednesday, April 1st. Wells Fargo & Company dropped their price objective on shares of W.R. Berkley from $66.00 to $64.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 22nd. Truist Financial dropped their price objective on shares of W.R. Berkley from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Weiss Ratings lowered shares of W.R. Berkley from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 20th. Finally, Brean Capital lowered shares of W.R. Berkley from a “buy” rating to a “neutral” rating and set a $73.00 price objective on the stock. in a report on Wednesday, March 25th. Two analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $68.81.

W.R. Berkley Company Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.