W.R. Berkley Corporation (NYSE:WRB) – Equities researchers at Langen Mcalenn issued their Q4 2017 earnings estimates for W.R. Berkley Corporation in a report released on Thursday. Langen Mcalenn analyst L. Greenberg expects that the insurance provider will post earnings per share of $0.82 for the quarter. Langen Mcalenn also issued estimates for W.R. Berkley Corporation’s Q1 2018 earnings at $0.82 EPS, Q2 2018 earnings at $0.74 EPS, Q3 2018 earnings at $0.76 EPS and Q4 2018 earnings at $0.82 EPS.
WRB has been the topic of several other research reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $70.00 price target (up previously from $68.00) on shares of W.R. Berkley Corporation in a research note on Friday, July 7th. Keefe, Bruyette & Woods set a $67.00 price target on W.R. Berkley Corporation and gave the company a “hold” rating in a research note on Thursday, July 6th. BidaskClub lowered W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research lowered W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $72.00 price target on shares of W.R. Berkley Corporation in a research note on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $66.00.
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W.R. Berkley Corporation (NYSE WRB) opened at 67.57 on Monday. The company’s 50-day moving average price is $66.09 and its 200-day moving average price is $68.11. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 14.35 and a beta of 0.88. W.R. Berkley Corporation has a 12-month low of $55.55 and a 12-month high of $73.17.
W.R. Berkley Corporation (NYSE:WRB) last released its earnings results on Tuesday, July 25th. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.61 billion. W.R. Berkley Corporation had a return on equity of 7.58% and a net margin of 7.86%. W.R. Berkley Corporation’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th were issued a $0.14 dividend. The ex-dividend date was Tuesday, September 19th. This represents a $0.56 dividend on an annualized basis and a yield of 0.83%. W.R. Berkley Corporation’s dividend payout ratio is presently 11.84%.
W.R. Berkley Corporation announced that its board has approved a share repurchase plan on Tuesday, August 8th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC increased its holdings in W.R. Berkley Corporation by 3.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 692,816 shares of the insurance provider’s stock valued at $47,923,000 after purchasing an additional 20,651 shares during the last quarter. Swiss National Bank increased its holdings in W.R. Berkley Corporation by 2.8% in the second quarter. Swiss National Bank now owns 353,748 shares of the insurance provider’s stock valued at $24,469,000 after purchasing an additional 9,600 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in W.R. Berkley Corporation by 3.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 365,905 shares of the insurance provider’s stock valued at $25,310,000 after purchasing an additional 12,711 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in W.R. Berkley Corporation in the second quarter valued at about $2,248,000. Finally, Victory Capital Management Inc. increased its holdings in W.R. Berkley Corporation by 3.7% in the second quarter. Victory Capital Management Inc. now owns 2,412,772 shares of the insurance provider’s stock valued at $166,891,000 after purchasing an additional 86,904 shares during the last quarter. Institutional investors and hedge funds own 71.18% of the company’s stock.
About W.R. Berkley Corporation
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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