W. R. Berkley (NYSE:WRB) Releases Earnings Results, Beats Estimates By $0.10 EPS

W. R. Berkley (NYSE:WRBGet Free Report) announced its quarterly earnings results on Wednesday. The insurance provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10, Briefing.com reports. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $2.70 billion. W. R. Berkley had a return on equity of 19.40% and a net margin of 11.38%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 earnings per share.

W. R. Berkley Stock Performance

WRB stock traded down $1.80 during midday trading on Friday, reaching $81.47. The company had a trading volume of 1,776,535 shares, compared to its average volume of 1,311,891. The stock has a 50 day moving average price of $72.34 and a 200 day moving average price of $66.64. The firm has a market capitalization of $21.01 billion, a PE ratio of 16.31, a P/E/G ratio of 1.49 and a beta of 0.57. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.41. W. R. Berkley has a fifty-two week low of $55.50 and a fifty-two week high of $85.01.

W. R. Berkley Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Monday, December 18th were paid a $0.11 dividend. The ex-dividend date was Friday, December 15th. This represents a $0.44 dividend on an annualized basis and a yield of 0.54%. W. R. Berkley’s dividend payout ratio (DPR) is 8.70%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com assumed coverage on W. R. Berkley in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Evercore ISI reiterated an “in-line” rating and issued a $79.00 price target (up from $69.00) on shares of W. R. Berkley in a report on Tuesday, January 9th. Royal Bank of Canada raised their price objective on W. R. Berkley from $73.00 to $79.00 and gave the stock a “sector perform” rating in a report on Thursday. BMO Capital Markets raised their price objective on W. R. Berkley from $71.00 to $81.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Wells Fargo & Company raised their price objective on W. R. Berkley from $84.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.38.

Check Out Our Latest Stock Analysis on W. R. Berkley

Hedge Funds Weigh In On W. R. Berkley

Several institutional investors and hedge funds have recently added to or reduced their stakes in WRB. First Manhattan Co. lifted its position in W. R. Berkley by 50.0% during the 1st quarter. First Manhattan Co. now owns 486 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 162 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of W. R. Berkley by 2.3% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,320 shares of the insurance provider’s stock valued at $473,000 after buying an additional 162 shares during the last quarter. Clear Street Markets LLC raised its position in shares of W. R. Berkley by 92.3% during the first quarter. Clear Street Markets LLC now owns 398 shares of the insurance provider’s stock valued at $25,000 after buying an additional 191 shares during the last quarter. Money Concepts Capital Corp raised its position in shares of W. R. Berkley by 23.9% during the fourth quarter. Money Concepts Capital Corp now owns 1,272 shares of the insurance provider’s stock valued at $92,000 after buying an additional 245 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in shares of W. R. Berkley by 0.9% during the first quarter. Rockefeller Capital Management L.P. now owns 29,116 shares of the insurance provider’s stock valued at $1,812,000 after buying an additional 249 shares during the last quarter. 66.34% of the stock is currently owned by hedge funds and other institutional investors.

About W. R. Berkley

(Get Free Report)

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and general and professional liability lines.

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Earnings History for W. R. Berkley (NYSE:WRB)

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