W.R. Berkley Corporation (NYSE:WRB) Declares $0.14 Quarterly Dividend
W.R. Berkley Corporation (NYSE:WRB) announced a quarterly dividend on Wednesday, August 9th, Wall Street Journal reports. Investors of record on Wednesday, September 20th will be given a dividend of 0.14 per share by the insurance provider on Wednesday, October 4th. This represents a $0.56 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Tuesday, September 19th.
W.R. Berkley Corporation has increased its dividend payment by an average of 9.4% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. W.R. Berkley Corporation has a dividend payout ratio of 19.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect W.R. Berkley Corporation to earn $3.31 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 16.9%.
W.R. Berkley Corporation (NYSE WRB) traded up 1.91% during midday trading on Wednesday, reaching $68.39. 583,807 shares of the company were exchanged. The firm’s 50-day moving average is $69.38 and its 200-day moving average is $69.10. The firm has a market cap of $8.29 billion, a P/E ratio of 14.52 and a beta of 0.87. W.R. Berkley Corporation has a one year low of $55.55 and a one year high of $73.17.
W.R. Berkley Corporation (NYSE:WRB) last issued its quarterly earnings data on Tuesday, July 25th. The insurance provider reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.10. W.R. Berkley Corporation had a return on equity of 7.67% and a net margin of 7.86%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. W.R. Berkley Corporation’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts expect that W.R. Berkley Corporation will post $2.94 EPS for the current fiscal year.
W.R. Berkley Corporation declared that its Board of Directors has initiated a share buyback program on Tuesday, August 8th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is undervalued.
A number of equities analysts recently issued reports on the stock. Boenning Scattergood reaffirmed a “hold” rating on shares of W.R. Berkley Corporation in a research report on Wednesday, July 26th. Zacks Investment Research lowered shares of W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $70.00 target price (up previously from $68.00) on shares of W.R. Berkley Corporation in a research report on Friday, July 7th. Keefe, Bruyette & Woods set a $67.00 target price on shares of W.R. Berkley Corporation and gave the stock a “hold” rating in a research report on Thursday, July 6th. Finally, BidaskClub lowered shares of W.R. Berkley Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. W.R. Berkley Corporation currently has a consensus rating of “Hold” and a consensus price target of $63.83.
W.R. Berkley Corporation Company Profile
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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