W.R. Berkley Corporation (NYSE:WRB) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of W.R. Berkley Corporation (NYSE:WRB) have been assigned an average recommendation of “Reduce” from the eighteen analysts that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $70.9444.

WRB has been the subject of several analyst reports. Weiss Ratings cut shares of W.R. Berkley from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. BMO Capital Markets raised shares of W.R. Berkley from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $64.00 to $68.00 in a report on Thursday, April 23rd. Bank of America reiterated an “underperform” rating and issued a $68.00 price target (down from $74.00) on shares of W.R. Berkley in a research report on Thursday, July 16th. UBS Group reiterated a “neutral” rating and issued a $77.00 price target (up from $71.00) on shares of W.R. Berkley in a research note on Monday. Finally, The Goldman Sachs Group raised W.R. Berkley from a “neutral” rating to a “buy” rating and increased their price target for the stock from $71.00 to $73.00 in a research report on Monday, June 8th.

W.R. Berkley Price Performance

NYSE:WRB opened at $76.23 on Friday. W.R. Berkley has a 1-year low of $62.87 and a 1-year high of $78.96. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $69.49 and a 200 day simple moving average of $68.53. The stock has a market capitalization of $28.38 billion, a PE ratio of 15.65, a P/E/G ratio of 3.51 and a beta of 0.29.

W.R. Berkley (NYSE:WRB) last issued its earnings results on Monday, July 20th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.19. W.R. Berkley had a net margin of 12.94% and a return on equity of 19.49%. The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the firm earned $1.05 EPS. W.R. Berkley’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts expect that W.R. Berkley will post 4.76 EPS for the current fiscal year.

W.R. Berkley Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Tuesday, June 23rd were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. This is a positive change from W.R. Berkley’s previous quarterly dividend of $0.09. W.R. Berkley’s dividend payout ratio (DPR) is 8.21%.

Institutional Trading of W.R. Berkley

Several large investors have recently bought and sold shares of WRB. Entrust Financial LLC acquired a new position in W.R. Berkley in the 4th quarter worth about $25,000. Hazlett Burt & Watson Inc. boosted its stake in shares of W.R. Berkley by 140.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 210 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in shares of W.R. Berkley during the second quarter valued at about $29,000. DV Equities LLC bought a new stake in shares of W.R. Berkley during the fourth quarter worth about $29,000. Finally, Triumph Capital Management acquired a new position in shares of W.R. Berkley in the third quarter valued at approximately $35,000. 68.82% of the stock is owned by institutional investors and hedge funds.

W.R. Berkley Company Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.