Boenning Scattergood Reiterates “Hold” Rating for W.R. Berkley Corporation (NYSE:WRB)
Boenning Scattergood reiterated their hold rating on shares of W.R. Berkley Corporation (NYSE:WRB) in a research note issued to investors on Wednesday. Boenning Scattergood also issued estimates for W.R. Berkley Corporation’s Q3 2017 earnings at $0.74 EPS, Q4 2017 earnings at $0.82 EPS, FY2017 earnings at $2.90 EPS, Q1 2018 earnings at $0.89 EPS, Q2 2018 earnings at $0.79 EPS, Q3 2018 earnings at $0.86 EPS, Q4 2018 earnings at $0.90 EPS and FY2018 earnings at $3.45 EPS.
Other equities analysts have also recently issued reports about the company. BidaskClub raised W.R. Berkley Corporation from a hold rating to a buy rating in a report on Tuesday, June 20th. Morgan Stanley reaffirmed an equal weight rating and issued a $70.00 price objective (up from $68.00) on shares of W.R. Berkley Corporation in a report on Friday, July 7th. Zacks Investment Research raised W.R. Berkley Corporation from a sell rating to a hold rating in a report on Tuesday, July 18th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $67.00 price objective on shares of W.R. Berkley Corporation in a report on Wednesday, May 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $63.83.
W.R. Berkley Corporation (WRB) opened at 68.96 on Wednesday. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of 14.64 and a beta of 0.87. W.R. Berkley Corporation has a 52 week low of $55.55 and a 52 week high of $73.17. The company has a 50 day moving average price of $69.40 and a 200-day moving average price of $69.04.
W.R. Berkley Corporation (NYSE:WRB) last released its quarterly earnings results on Tuesday, July 25th. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.10. The firm had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.61 billion. W.R. Berkley Corporation had a net margin of 7.86% and a return on equity of 7.67%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 earnings per share. Equities analysts predict that W.R. Berkley Corporation will post $3.01 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Thursday, June 15th were issued a dividend of $0.14 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from W.R. Berkley Corporation’s previous quarterly dividend of $0.13. W.R. Berkley Corporation’s payout ratio is 11.84%.
Several institutional investors have recently bought and sold shares of the company. NEXT Financial Group Inc boosted its position in W.R. Berkley Corporation by 243.9% in the second quarter. NEXT Financial Group Inc now owns 1,809 shares of the insurance provider’s stock worth $125,000 after buying an additional 1,283 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its position in W.R. Berkley Corporation by 46.8% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,881 shares of the insurance provider’s stock worth $133,000 after buying an additional 600 shares during the period. IFP Advisors Inc boosted its position in W.R. Berkley Corporation by 218.0% in the first quarter. IFP Advisors Inc now owns 2,064 shares of the insurance provider’s stock worth $146,000 after buying an additional 1,415 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in W.R. Berkley Corporation by 4.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,548 shares of the insurance provider’s stock worth $168,000 after buying an additional 102 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in W.R. Berkley Corporation by 17.4% in the first quarter. Daiwa Securities Group Inc. now owns 2,700 shares of the insurance provider’s stock worth $191,000 after buying an additional 400 shares during the period. 72.15% of the stock is owned by institutional investors.
About W.R. Berkley Corporation
W. R. Berkley Corporation is an insurance holding company. It operates through two segments: Insurance and Reinsurance-Global. The Insurance segment consists of its commercial insurance business operations, comprising excess and surplus lines, and admitted lines, throughout the United States, as well as its insurance business operations in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.
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