W.R. Berkley (NYSE:WRB) Posts Earnings Results, Beats Estimates By $0.18 EPS

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

W.R. Berkley Stock Up 1.5%

NYSE:WRB traded up $1.10 on Monday, reaching $72.71. The stock had a trading volume of 1,830,109 shares, compared to its average volume of 2,216,450. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average of $68.48 and a 200 day moving average of $68.32. The stock has a market cap of $27.07 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 3.39 and a beta of 0.29. W.R. Berkley has a 12-month low of $62.87 and a 12-month high of $78.96.

W.R. Berkley Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 23rd were issued a $0.10 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. This is an increase from W.R. Berkley’s previous quarterly dividend of $0.09. W.R. Berkley’s dividend payout ratio (DPR) is presently 8.47%.

Institutional Trading of W.R. Berkley

Hedge funds and other institutional investors have recently modified their holdings of the business. DV Equities LLC acquired a new stake in W.R. Berkley during the 4th quarter valued at approximately $29,000. Triumph Capital Management acquired a new position in shares of W.R. Berkley in the 3rd quarter valued at approximately $35,000. Quarry LP acquired a new position in shares of W.R. Berkley in the 4th quarter valued at approximately $39,000. Cary Street Partners Financial LLC boosted its stake in shares of W.R. Berkley by 691.9% during the 2nd quarter. Cary Street Partners Financial LLC now owns 586 shares of the insurance provider’s stock valued at $43,000 after buying an additional 512 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in shares of W.R. Berkley by 62.2% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 600 shares of the insurance provider’s stock valued at $46,000 after buying an additional 230 shares during the last quarter. 68.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on WRB shares. UBS Group set a $68.00 price target on W.R. Berkley and gave the company a “neutral” rating in a report on Monday, April 27th. Wolfe Research cut W.R. Berkley from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Truist Financial decreased their target price on W.R. Berkley from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Argus lowered W.R. Berkley from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Atlantic Securities set a $74.00 price target on W.R. Berkley in a research report on Wednesday. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, W.R. Berkley has an average rating of “Reduce” and a consensus target price of $70.00.

About W.R. Berkley

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.