W.R. Berkley Corporation (NYSE:WRB) – Investment analysts at Langen Mcalenn cut their Q3 2017 EPS estimates for W.R. Berkley Corporation in a report issued on Thursday. Langen Mcalenn analyst L. Greenberg now forecasts that the insurance provider will post earnings per share of $0.42 for the quarter, down from their prior estimate of $0.47. Langen Mcalenn also issued estimates for W.R. Berkley Corporation’s FY2017 earnings at $2.58 EPS.
W.R. Berkley Corporation (NYSE:WRB) last released its quarterly earnings data on Tuesday, July 25th. The insurance provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.10). The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.61 billion. W.R. Berkley Corporation had a return on equity of 7.58% and a net margin of 7.86%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 EPS.
WRB has been the subject of a number of other research reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $70.00 price target (up previously from $68.00) on shares of W.R. Berkley Corporation in a report on Friday, July 7th. Keefe, Bruyette & Woods set a $67.00 price target on shares of W.R. Berkley Corporation and gave the company a “hold” rating in a report on Thursday, July 6th. BidaskClub lowered shares of W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered shares of W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $72.00 price objective on shares of W.R. Berkley Corporation in a research report on Tuesday, August 29th. One 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 company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $66.00.
W.R. Berkley Corporation (WRB) opened at 67.57 on Friday. W.R. Berkley Corporation has a 12-month low of $55.55 and a 12-month high of $73.17. The stock has a market cap of $8.19 billion, a P/E ratio of 14.35 and a beta of 0.88. The stock has a 50 day moving average price of $66.09 and a 200 day moving average price of $68.11.
W.R. Berkley Corporation announced that its board has authorized a share buyback program on Tuesday, August 8th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend was Tuesday, September 19th. W.R. Berkley Corporation’s dividend payout ratio (DPR) is currently 11.84%.
A number of institutional investors have recently bought and sold shares of WRB. UBS Asset Management Americas Inc. raised its position in W.R. Berkley Corporation by 6.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 425,030 shares of the insurance provider’s stock worth $30,020,000 after purchasing an additional 23,934 shares during the period. State of Wisconsin Investment Board raised its position in W.R. Berkley Corporation by 92.0% in the 1st quarter. State of Wisconsin Investment Board now owns 23,772 shares of the insurance provider’s stock worth $1,679,000 after purchasing an additional 11,392 shares during the period. Martingale Asset Management L P purchased a new stake in W.R. Berkley Corporation in the 1st quarter worth about $635,000. Raymond James Financial Services Advisors Inc. purchased a new stake in W.R. Berkley Corporation in the 1st quarter worth about $236,000. Finally, Aberdeen Asset Management PLC UK purchased a new stake in W.R. Berkley Corporation in the 1st quarter worth about $208,000. 71.18% of the stock is currently owned by institutional investors.
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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