Royal Bank Of Canada reaffirmed their hold rating on shares of W.R. Berkley Corporation (NYSE:WRB) in a research report released on Tuesday, August 29th. They currently have a $72.00 target price on the insurance provider’s stock.
Several other analysts also recently commented on WRB. BidaskClub downgraded shares of W.R. Berkley Corporation from a buy rating to a hold rating in a research report on Friday, June 9th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $67.00 price target on shares of W.R. Berkley Corporation in a report on Wednesday, May 17th. Boenning Scattergood reaffirmed a hold rating on shares of W.R. Berkley Corporation in a report on Wednesday, July 26th. Zacks Investment Research downgraded shares of W.R. Berkley Corporation from a hold rating to a sell rating in a report on Wednesday, June 28th. Finally, 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 report on Friday, July 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. W.R. Berkley Corporation currently has an average rating of Hold and a consensus target price of $67.14.
Shares of W.R. Berkley Corporation (WRB) traded up 0.15% during mid-day trading on Tuesday, hitting $65.50. 825,899 shares of the company’s stock traded hands. The firm has a 50-day moving average of $67.02 and a 200 day moving average of $68.70. The company has a market cap of $7.94 billion, a PE ratio of 13.91 and a beta of 0.88. W.R. Berkley Corporation has a 52 week low of $55.55 and a 52 week high of $73.17.
W.R. Berkley Corporation (NYSE:WRB) last announced 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). W.R. Berkley Corporation had a net margin of 7.86% and a return on equity of 7.58%. The firm had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the company posted $0.82 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts predict that W.R. Berkley Corporation will post $2.96 EPS for the current year.
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W.R. Berkley Corporation announced that its board has initiated a stock repurchase plan on Tuesday, August 8th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Tuesday, September 19th. W.R. Berkley Corporation’s payout ratio is currently 11.84%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its position in W.R. Berkley Corporation by 683.0% in the second quarter. Tower Research Capital LLC TRC now owns 1,566 shares of the insurance provider’s stock worth $108,000 after purchasing an additional 1,366 shares during the last quarter. NEXT Financial Group Inc increased its position in W.R. Berkley Corporation by 243.9% in the second quarter. NEXT Financial Group Inc now owns 1,809 shares of the insurance provider’s stock worth $125,000 after purchasing an additional 1,283 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in W.R. Berkley Corporation by 46.8% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,881 shares of the insurance provider’s stock worth $133,000 after purchasing an additional 600 shares during the last quarter. IFP Advisors Inc boosted its stake in W.R. Berkley Corporation by 218.0% during the first quarter. IFP Advisors Inc now owns 2,064 shares of the insurance provider’s stock worth $146,000 after buying an additional 1,415 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in W.R. Berkley Corporation by 4.2% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,548 shares of the insurance provider’s stock worth $168,000 after buying an additional 102 shares during the period. Institutional investors own 71.18% of the company’s stock.
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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