Shares of W. R. Berkley Corp (NYSE:WRB) have been given an average recommendation of “Hold” by the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $61.67.
A number of research analysts have issued reports on the stock. UBS Group upgraded shares of W. R. Berkley to a “hold” rating and set a $57.00 target price on the stock in a research report on Tuesday, April 14th. Deutsche Bank upgraded shares of W. R. Berkley from a “sell” rating to a “hold” rating in a research report on Sunday, April 19th. Cfra cut their target price on shares of W. R. Berkley from $77.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, April 24th. Morgan Stanley cut their target price on shares of W. R. Berkley from $78.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 1st. Finally, ValuEngine raised W. R. Berkley from a “sell” rating to a “hold” rating in a research note on Wednesday, March 18th.
A number of hedge funds and other institutional investors have recently bought and sold shares of WRB. Fifth Third Bancorp increased its stake in W. R. Berkley by 3,126.7% during the 1st quarter. Fifth Third Bancorp now owns 484 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 469 shares in the last quarter. Guardian Life Insurance Co. of America bought a new stake in W. R. Berkley during the 4th quarter worth approximately $30,000. Pendal Group Ltd bought a new stake in W. R. Berkley during the 1st quarter worth approximately $32,000. Harwood Advisory Group LLC bought a new stake in W. R. Berkley during the 1st quarter worth approximately $35,000. Finally, CSat Investment Advisory L.P. increased its stake in W. R. Berkley by 149.4% during the 4th quarter. CSat Investment Advisory L.P. now owns 893 shares of the insurance provider’s stock worth $62,000 after purchasing an additional 535 shares in the last quarter. 71.97% of the stock is owned by institutional investors and hedge funds.
W. R. Berkley (NYSE:WRB) last released its earnings results on Tuesday, April 21st. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.04). W. R. Berkley had a net margin of 6.39% and a return on equity of 9.97%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts anticipate that W. R. Berkley will post 2.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This is a boost from W. R. Berkley’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.87%. W. R. Berkley’s dividend payout ratio is 15.84%.
W. R. Berkley Company Profile
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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