Zacks Research Lowers Earnings Estimates for W.R. Berkley

W.R. Berkley Corporation (NYSE:WRB) – Equities researchers at Zacks Research dropped their FY2028 earnings estimates for W.R. Berkley in a note issued to investors on Friday, July 3rd. Zacks Research analyst Team now anticipates that the insurance provider will post earnings per share of $5.07 for the year, down from their prior estimate of $5.08. The consensus estimate for W.R. Berkley’s current full-year earnings is $4.67 per share.

W.R. Berkley (NYSE:WRB) last posted its earnings results on Tuesday, April 21st. The insurance provider reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.17. W.R. Berkley had a net margin of 12.64% and a return on equity of 18.92%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period last year, the firm posted $1.01 EPS. The company’s revenue was up 1.3% on a year-over-year basis.

Other research analysts have also issued research reports about the company. Wolfe Research lowered W.R. Berkley from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Barclays reissued an “underweight” rating and set a $62.00 price objective (down from $64.00) on shares of W.R. Berkley in a research report on Friday, June 12th. Wall Street Zen upgraded shares of W.R. Berkley from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. BMO Capital Markets raised W.R. Berkley from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $64.00 to $68.00 in a report on Thursday, April 23rd. Finally, Wells Fargo & Company downgraded shares of W.R. Berkley from an “overweight” rating to an “underweight” rating and cut their price objective for the stock from $64.00 to $58.00 in a research report on Monday, June 8th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, W.R. Berkley currently has a consensus rating of “Reduce” and a consensus target price of $68.50.

W.R. Berkley Stock Up 0.9%

WRB opened at $71.54 on Wednesday. W.R. Berkley has a one year low of $62.87 and a one year high of $78.96. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $26.63 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 3.35 and a beta of 0.29. The business’s 50-day simple moving average is $67.67 and its 200-day simple moving average is $68.25.

W.R. Berkley Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, June 23rd. This is a positive change from W.R. Berkley’s previous quarterly dividend of $0.09. W.R. Berkley’s payout ratio is 8.47%.

Hedge Funds Weigh In On W.R. Berkley

Several hedge funds and other institutional investors have recently bought and sold shares of WRB. Mitsui Sumitomo Insurance Co. Ltd. purchased a new position in W.R. Berkley during the fourth quarter worth $3,542,919,000. Norges Bank acquired a new stake in shares of W.R. Berkley during the fourth quarter valued at $435,752,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in W.R. Berkley by 35,572.5% during the 4th 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 purchasing an additional 2,213,679 shares in the last quarter. Invesco Ltd. raised its stake in 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 during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in W.R. Berkley by 70.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,754,383 shares of the insurance provider’s stock valued at $193,137,000 after purchasing an additional 1,140,349 shares during the last quarter. 68.82% of the stock is owned by institutional investors and hedge funds.

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.