Equities research analysts predict that W.R. Berkley Corporation (NYSE:WRB) will announce sales of $1.77 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for W.R. Berkley Corporation’s earnings. The lowest sales estimate is $1.76 billion and the highest is $1.77 billion. W.R. Berkley Corporation reported sales of $1.69 billion during the same quarter last year, which indicates a positive year over year growth rate of 4.7%. The business is scheduled to issue its next earnings report on Monday, July 24th.
According to Zacks, analysts expect that W.R. Berkley Corporation will report full year sales of $1.77 billion for the current financial year, with estimates ranging from $7.03 billion to $7.24 billion. For the next fiscal year, analysts anticipate that the business will report sales of $7.31 billion per share, with estimates ranging from $7.29 billion to $7.33 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow W.R. Berkley Corporation.
Several research analysts have recently issued reports on WRB shares. Zacks Investment Research upgraded W.R. Berkley Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 30th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $67.00 price objective on shares of W.R. Berkley Corporation in a research note on Wednesday, May 17th. Boenning Scattergood restated a “neutral” rating on shares of W.R. Berkley Corporation in a research note on Thursday, March 2nd. Finally, BidaskClub cut W.R. Berkley Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $62.00.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ bought a new position in shares of W.R. Berkley Corporation during the first quarter valued at $262,000. Public Employees Retirement System of Ohio boosted its position in shares of W.R. Berkley Corporation by 5.2% in the first quarter. Public Employees Retirement System of Ohio now owns 43,977 shares of the insurance provider’s stock valued at $3,106,000 after buying an additional 2,160 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of W.R. Berkley Corporation by 98.9% in the first quarter. Point72 Asset Management L.P. now owns 132,100 shares of the insurance provider’s stock valued at $9,330,000 after buying an additional 65,700 shares in the last quarter. Janus Capital Management LLC boosted its position in shares of W.R. Berkley Corporation by 703.9% in the first quarter. Janus Capital Management LLC now owns 431,245 shares of the insurance provider’s stock valued at $30,459,000 after buying an additional 377,600 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of W.R. Berkley Corporation during the first quarter valued at $605,000. Institutional investors own 72.28% of the company’s stock.
Shares of W.R. Berkley Corporation (NYSE:WRB) opened at 70.17 on Friday. The company has a market capitalization of $8.51 billion, a P/E ratio of 14.90 and a beta of 0.86. W.R. Berkley Corporation has a 1-year low of $54.70 and a 1-year high of $73.17. The firm’s 50 day moving average price is $67.86 and its 200-day moving average price is $68.23.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Thursday, June 15th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.80%. This is a boost from W.R. Berkley Corporation’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, June 13th. W.R. Berkley Corporation’s dividend payout ratio (DPR) is presently 11.84%.
W.R. Berkley Corporation Company Profile
W. R. Berkley Corporation is an insurance holding company. It operates through two segments: Insurance and Reinsurance-Global. The Insurance segment consists of its commercial insurance business operations, comprising excess and surplus lines, and admitted lines, throughout the United States, as well as its insurance business operations in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.
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