W.R. Berkley Corp. to Post Q4 2016 Earnings of $0.89 Per Share, Langen Mcalenn Forecasts (WRB)
W.R. Berkley Corp. (NYSE:WRB) – Langen Mcalenn reduced their Q4 2016 earnings per share (EPS) estimates for W.R. Berkley Corp. in a research note issued on Tuesday. Langen Mcalenn analyst L. Greenberg now forecasts that the firm will post earnings of $0.89 per share for the quarter, down from their prior estimate of $0.91.
A number of other research analysts have also issued reports on the company. Zacks Investment Research lowered W.R. Berkley Corp. from a “buy” rating to a “hold” rating in a research report on Friday, October 7th. Credit Suisse Group AG set a $52.00 price objective on W.R. Berkley Corp. and gave the company a “sell” rating in a research report on Monday, September 12th. Compass Point boosted their price objective on 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. Finally, Royal Bank Of Canada boosted their price target on W.R. Berkley Corp. from $57.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 13th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.83.
W.R. Berkley Corp. (NYSE:WRB) traded up 0.85% during mid-day trading on Friday, hitting $58.47. The company had a trading volume of 79,970 shares. The company has a market cap of $7.18 billion, a PE ratio of 15.34 and a beta of 0.82. The company’s 50 day moving average price is $57.91 and its 200-day moving average price is $57.24. W.R. Berkley Corp. has a one year low of $47.54 and a one year high of $60.08.
W.R. Berkley Corp. (NYSE:WRB) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.96 billion. W.R. Berkley Corp. had a return on equity of 9.53% and a net margin of 6.69%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 earnings per share.
The company also recently disclosed a dividend, which was paid on Wednesday, October 5th. Stockholders of record on Tuesday, September 20th were paid a $0.63 dividend. The ex-dividend date of this dividend was Friday, September 16th. This is an increase from W.R. Berkley Corp.’s previous dividend of $0.12. W.R. Berkley Corp.’s payout ratio is currently 13.65%.
Several hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in W.R. Berkley Corp. by 1.2% in the third quarter. Nisa Investment Advisors LLC now owns 69,200 shares of the company’s stock worth $3,997,000 after buying an additional 800 shares in the last quarter. Capstone Asset Management Co. increased its stake in W.R. Berkley Corp. by 1.5% in the third quarter. Capstone Asset Management Co. now owns 12,428 shares of the company’s stock worth $718,000 after buying an additional 181 shares in the last quarter. Creative Planning increased its stake in W.R. Berkley Corp. by 4.1% in the third quarter. Creative Planning now owns 7,195 shares of the company’s stock worth $416,000 after buying an additional 283 shares in the last quarter. Williams Jones & Associates LLC purchased a new stake in W.R. Berkley Corp. during the second quarter worth approximately $366,000. Finally, Mason Street Advisors LLC purchased a new stake in W.R. Berkley Corp. during the second quarter worth approximately $2,680,000. 70.99% of the stock is currently owned by institutional investors.
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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