W. R. Berkley (NYSE:WRB) Issues Earnings Results, Beats Estimates By $0.15 EPS

W. R. Berkley (NYSE:WRBGet Rating) posted its earnings results on Monday. The insurance provider reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.15, MarketWatch Earnings reports. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.26 billion. W. R. Berkley had a net margin of 10.81% and a return on equity of 14.45%. The company’s revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share.

NYSE:WRB opened at $67.90 on Tuesday. The stock has a market cap of $18.01 billion, a P/E ratio of 18.55, a PEG ratio of 2.11 and a beta of 0.80. W. R. Berkley has a one year low of $47.13 and a one year high of $71.53. The company has a fifty day moving average price of $64.98 and a 200 day moving average price of $58.33. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.40 and a quick ratio of 0.40.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 23rd. Stockholders of record on Wednesday, March 9th were paid a $0.0867 dividend. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Tuesday, March 8th. W. R. Berkley’s payout ratio is 9.56%.

Large investors have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA acquired a new position in W. R. Berkley during the 4th quarter valued at $203,000. Forum Financial Management LP bought a new stake in W. R. Berkley in the 4th quarter valued at $341,000. EverSource Wealth Advisors LLC bought a new stake in W. R. Berkley in the 4th quarter valued at $353,000. MML Investors Services LLC increased its holdings in W. R. Berkley by 3.5% in the 4th quarter. MML Investors Services LLC now owns 7,424 shares of the insurance provider’s stock valued at $612,000 after buying an additional 248 shares during the period. Finally, Jane Street Group LLC increased its holdings in W. R. Berkley by 10.5% in the 3rd quarter. Jane Street Group LLC now owns 8,127 shares of the insurance provider’s stock valued at $595,000 after buying an additional 775 shares during the period. Hedge funds and other institutional investors own 74.74% of the company’s stock.

WRB has been the subject of a number of analyst reports. Wolfe Research upgraded shares of W. R. Berkley from a “market perform” rating to an “outperform” rating and set a $70.67 target price for the company in a research note on Thursday, February 3rd. Zacks Investment Research cut shares of W. R. Berkley from a “buy” rating to a “hold” rating and set a $70.00 target price for the company. in a research note on Wednesday, April 6th. Wells Fargo & Company lifted their target price on shares of W. R. Berkley from $65.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, April 12th. StockNews.com initiated coverage on shares of W. R. Berkley in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Morgan Stanley lifted their target price on shares of W. R. Berkley from $44.67 to $67.00 and gave the company an “equal weight” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $66.36.

About W. R. Berkley (Get Rating)

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.

Featured Articles

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

Receive News & Ratings for W. R. Berkley Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W. R. Berkley and related companies with MarketBeat.com's FREE daily email newsletter.