W.R. Berkley Corp. (WRB) Receives Average Rating of “Hold” from Brokerages
W.R. Berkley Corp. (NYSE:WRB) has received an average recommendation of “Hold” from the seven analysts that are covering the stock. One analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $58.60.
WRB has been the subject of a number of recent research reports. Compass Point increased their price objective on shares of W.R. Berkley Corp. from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 26th. Zacks Investment Research upgraded shares of W.R. Berkley Corp. from a “sell” rating to a “hold” rating in a research note on Friday, August 19th. Credit Suisse Group AG set a $52.00 price objective on shares of W.R. Berkley Corp. and gave the stock a “sell” rating in a research note on Monday, September 12th. Deutsche Bank AG increased their price objective on shares of W.R. Berkley Corp. from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday, October 26th. Finally, Goldman Sachs Group Inc. cut shares of W.R. Berkley Corp. from a “buy” rating to a “neutral” rating and set a $60.00 target price on the stock. in a report on Tuesday, November 15th.
W.R. Berkley Corp. (NYSE:WRB) traded up 0.11% during midday trading on Wednesday, reaching $61.33. The company had a trading volume of 83,614 shares. The firm has a market capitalization of $7.44 billion, a P/E ratio of 14.11 and a beta of 0.67. W.R. Berkley Corp. has a one year low of $47.54 and a one year high of $61.56. The stock’s 50 day moving average price is $57.73 and its 200-day moving average price is $57.62.
W.R. Berkley Corp. (NYSE:WRB) last posted its quarterly earnings data on Tuesday, October 25th. The company reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.03. W.R. Berkley Corp. had a net margin of 7.46% and a return on equity of 9.28%. The company earned $2.02 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the business posted $0.91 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts anticipate that W.R. Berkley Corp. will post $3.44 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.52 annualized dividend and a yield of 0.85%. W.R. Berkley Corp.’s dividend payout ratio is currently 11.95%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Investment Counselors of Maryland LLC boosted its position in W.R. Berkley Corp. by 7.3% in the third quarter. Investment Counselors of Maryland LLC now owns 1,921 shares of the company’s stock valued at $111,000 after buying an additional 130 shares in the last quarter. Advisor Group Inc. bought a new position in W.R. Berkley Corp. during the second quarter valued at $125,000. Sei Investments Co. boosted its position in W.R. Berkley Corp. by 4.4% in the second quarter. Sei Investments Co. now owns 2,273 shares of the company’s stock valued at $136,000 after buying an additional 96 shares in the last quarter. Trust Co. of Vermont bought a new position in W.R. Berkley Corp. during the third quarter valued at $153,000. Finally, Brightworth bought a new position in W.R. Berkley Corp. during the second quarter valued at $213,000. 71.75% of the stock is currently owned by hedge funds and other 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.
Receive News & Stock Ratings for W.R. Berkley Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W.R. Berkley Corp. and related stocks with our FREE daily email newsletter.