W. R. Berkley Co. (NYSE:WRB) to Post Q3 2022 Earnings of $0.73 Per Share, Jefferies Financial Group Forecasts

W. R. Berkley Co. (NYSE:WRBGet Rating) – Investment analysts at Jefferies Financial Group lowered their Q3 2022 earnings per share (EPS) estimates for shares of W. R. Berkley in a note issued to investors on Thursday, July 21st. Jefferies Financial Group analyst Y. Kinar now expects that the insurance provider will earn $0.73 per share for the quarter, down from their prior estimate of $0.77. Jefferies Financial Group currently has a “Hold” rating and a $70.00 target price on the stock. The consensus estimate for W. R. Berkley’s current full-year earnings is $3.94 per share. Jefferies Financial Group also issued estimates for W. R. Berkley’s FY2024 earnings at $5.35 EPS.

W. R. Berkley (NYSE:WRBGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The insurance provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.26. W. R. Berkley had a return on equity of 17.13% and a net margin of 12.71%. During the same quarter last year, the business posted $0.78 EPS.

A number of other analysts have also issued reports on WRB. Morgan Stanley raised their target price on W. R. Berkley from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, May 23rd. Wells Fargo & Company raised their target price on W. R. Berkley to $83.00 in a report on Friday. StockNews.com raised W. R. Berkley from a “hold” rating to a “buy” rating in a report on Thursday, April 28th. Royal Bank of Canada raised their target price on W. R. Berkley from $63.00 to $75.00 in a report on Friday, April 8th. Finally, Truist Financial raised their target price on W. R. Berkley from $73.33 to $83.00 in a report on Tuesday, April 26th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $69.83.

W. R. Berkley Stock Performance

Shares of NYSE WRB opened at $62.65 on Monday. The firm has a market cap of $16.61 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 1.83 and a beta of 0.73. The business’s 50-day simple moving average is $67.67 and its 200-day simple moving average is $64.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.49 and a current ratio of 0.49. W. R. Berkley has a 52 week low of $47.13 and a 52 week high of $72.32.

W. R. Berkley Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 7th. Investors of record on Monday, June 27th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Friday, June 24th. This is an increase from W. R. Berkley’s previous quarterly dividend of $0.09. W. R. Berkley’s dividend payout ratio (DPR) is 8.42%.

Hedge Funds Weigh In On W. R. Berkley

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hartford Investment Management Co. lifted its position in shares of W. R. Berkley by 2.1% during the 2nd quarter. Hartford Investment Management Co. now owns 31,577 shares of the insurance provider’s stock worth $2,155,000 after buying an additional 661 shares during the period. Truist Financial Corp lifted its position in shares of W. R. Berkley by 0.8% during the 2nd quarter. Truist Financial Corp now owns 137,126 shares of the insurance provider’s stock worth $9,360,000 after buying an additional 1,036 shares during the period. LVW Advisors LLC lifted its position in shares of W. R. Berkley by 3.8% during the 2nd quarter. LVW Advisors LLC now owns 15,601 shares of the insurance provider’s stock worth $1,065,000 after buying an additional 576 shares during the period. Trust Investment Advisors bought a new position in shares of W. R. Berkley during the 2nd quarter worth approximately $206,000. Finally, Bowling Portfolio Management LLC bought a new position in shares of W. R. Berkley during the 2nd quarter worth approximately $588,000. Institutional investors own 49.90% of the company’s stock.

W. R. Berkley Company Profile

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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 and Estimates for W. R. Berkley (NYSE:WRB)

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