W. R. Berkley’s (WRB) Hold Rating Reaffirmed at Boenning Scattergood

Boenning Scattergood reiterated their hold rating on shares of W. R. Berkley (NYSE:WRB) in a research report sent to investors on Wednesday morning. Boenning Scattergood also issued estimates for W. R. Berkley’s Q2 2018 earnings at $0.81 EPS, Q3 2018 earnings at $0.89 EPS, Q4 2018 earnings at $0.97 EPS, Q1 2019 earnings at $0.98 EPS, Q2 2019 earnings at $0.87 EPS, Q3 2019 earnings at $0.95 EPS, Q4 2019 earnings at $1.05 EPS and FY2019 earnings at $3.85 EPS.

Several other research analysts have also recently weighed in on WRB. Zacks Investment Research raised W. R. Berkley from a hold rating to a buy rating and set a $79.00 target price for the company in a research note on Wednesday, December 27th. Royal Bank of Canada reiterated a hold rating on shares of W. R. Berkley in a research report on Wednesday, January 31st. Finally, ValuEngine upgraded W. R. Berkley from a hold rating to a buy rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $70.38.

Shares of WRB stock opened at $76.13 on Wednesday. W. R. Berkley has a fifty-two week low of $62.00 and a fifty-two week high of $79.74. The stock has a market cap of $9,393.40, a P/E ratio of 26.83, a PEG ratio of 2.33 and a beta of 0.79. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.46.

W. R. Berkley (NYSE:WRB) last announced its earnings results on Tuesday, January 30th. The insurance provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.03. W. R. Berkley had a return on equity of 6.55% and a net margin of 7.68%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.75 billion. sell-side analysts predict that W. R. Berkley will post 3.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Wednesday, March 14th were given a $0.14 dividend. The ex-dividend date was Tuesday, March 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.74%. W. R. Berkley’s dividend payout ratio (DPR) is 22.76%.

Several large investors have recently added to or reduced their stakes in WRB. Teacher Retirement System of Texas purchased a new stake in W. R. Berkley in the 4th quarter worth about $1,917,000. Scotia Capital Inc. purchased a new stake in W. R. Berkley in the 4th quarter worth about $938,000. Amundi Pioneer Asset Management Inc. purchased a new stake in W. R. Berkley in the 4th quarter worth about $7,125,000. Arizona State Retirement System lifted its stake in W. R. Berkley by 27.4% in the 4th quarter. Arizona State Retirement System now owns 69,257 shares of the insurance provider’s stock worth $4,962,000 after acquiring an additional 14,914 shares in the last quarter. Finally, Eaton Vance Management lifted its stake in W. R. Berkley by 7.9% in the 4th quarter. Eaton Vance Management now owns 83,602 shares of the insurance provider’s stock worth $5,990,000 after acquiring an additional 6,104 shares in the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

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About W. R. Berkley

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.

Analyst Recommendations for W. R. Berkley (NYSE:WRB)

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