W.R. Berkley (NYSE:WRB) Issues Earnings Results

W.R. Berkley (NYSE:WRB) announced its quarterly earnings data on Monday. The insurance provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.18, FiscalAI reports. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.28 billion. W.R. Berkley had a return on equity of 18.92% and a net margin of 12.64%.

W.R. Berkley Price Performance

Shares of W.R. Berkley stock traded up $1.10 during trading on Monday, hitting $72.71. 1,830,109 shares of the company were exchanged, compared to its average volume of 2,216,450. W.R. Berkley has a fifty-two week low of $62.87 and a fifty-two week high of $78.96. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average price of $68.48 and a 200 day moving average price of $68.32. The stock has a market capitalization of $27.07 billion, a price-to-earnings ratio of 15.40, a P/E/G ratio of 3.39 and a beta of 0.29.

W.R. Berkley Increases Dividend

The business also recently disclosed 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 0.6%. This is an increase from W.R. Berkley’s previous quarterly dividend of $0.09. W.R. Berkley’s payout ratio is presently 8.47%.

Hedge Funds Weigh In On W.R. Berkley

Institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in W.R. Berkley by 35,572.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,219,902 shares of the insurance provider’s stock worth $155,660,000 after acquiring an additional 2,213,679 shares during the last quarter. Invesco Ltd. lifted its stake in shares of W.R. Berkley by 33.4% in the 3rd quarter. Invesco Ltd. now owns 4,892,799 shares of the insurance provider’s stock valued at $374,886,000 after purchasing an additional 1,224,363 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of W.R. Berkley by 82.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,038,877 shares of the insurance provider’s stock valued at $72,846,000 after purchasing an additional 469,451 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of W.R. Berkley during the 2nd quarter worth about $29,617,000. Finally, Caisse de depot et placement du Quebec increased its position in W.R. Berkley by 115.5% during the 4th quarter. Caisse de depot et placement du Quebec now owns 685,153 shares of the insurance provider’s stock worth $48,043,000 after purchasing an additional 367,209 shares in the last quarter. 68.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Evercore reiterated an “underperform” rating and issued a $68.00 price objective on shares of W.R. Berkley in a research report on Friday, July 10th. Argus lowered shares of W.R. Berkley from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. UBS Group set a $68.00 target price on shares of W.R. Berkley and gave the company a “neutral” rating in a report on Monday, April 27th. Wells Fargo & Company boosted their price target on W.R. Berkley from $58.00 to $67.00 and gave the stock an “underweight” rating in a research note on Thursday, July 9th. Finally, Keefe, Bruyette & Woods upped their price target on W.R. Berkley from $67.00 to $69.00 and gave the stock a “market perform” rating in a report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $70.00.

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.