W.R. Berkley Corporation (NYSE:WRB) – Equities researchers at Boenning Scattergood issued their Q3 2017 EPS estimates for W.R. Berkley Corporation in a research note issued to investors on Thursday. Boenning Scattergood analyst R. Farnam forecasts that the insurance provider will post earnings per share of $0.25 for the quarter. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for W.R. Berkley Corporation’s FY2017 earnings at $2.40 EPS.
W.R. Berkley Corporation (NYSE:WRB) last issued its earnings results on Tuesday, July 25th. The insurance provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.10). The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.61 billion. W.R. Berkley Corporation had a return on equity of 7.58% and a net margin of 7.86%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $0.82 EPS. WARNING: “Analysts Offer Predictions for W.R. Berkley Corporation’s Q3 2017 Earnings (WRB)” was first reported by Markets Daily and is the sole property of of Markets Daily. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.themarketsdaily.com/2017/10/18/analysts-offer-predictions-for-w-r-berkley-corporations-q3-2017-earnings-wrb.html.
Other research analysts have also recently issued reports about the stock. BidaskClub upgraded shares of W.R. Berkley Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Morgan Stanley reissued an “equal weight” rating and issued a $70.00 price target (up previously from $68.00) on shares of W.R. Berkley Corporation in a research report on Friday, July 7th. Zacks Investment Research raised shares of W.R. Berkley Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Keefe, Bruyette & Woods set a $67.00 price target on shares of W.R. Berkley Corporation and gave the company a “hold” rating in a research report on Thursday, July 6th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $72.00 target price on shares of W.R. Berkley Corporation in a report on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. W.R. Berkley Corporation currently has a consensus rating of “Hold” and a consensus price target of $66.00.
Shares of W.R. Berkley Corporation (NYSE WRB) opened at 68.45 on Monday. The firm has a market cap of $8.30 billion, a PE ratio of 14.53 and a beta of 0.88. The stock has a 50 day moving average price of $66.08 and a 200 day moving average price of $67.94. W.R. Berkley Corporation has a 12 month low of $55.55 and a 12 month high of $73.17.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, September 19th. This represents a $0.56 dividend on an annualized basis and a yield of 0.82%. W.R. Berkley Corporation’s dividend payout ratio is currently 11.84%.
W.R. Berkley Corporation declared that its board has initiated a share repurchase program on Tuesday, August 8th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the insurance provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.
Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its stake in W.R. Berkley Corporation by 683.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,566 shares of the insurance provider’s stock valued at $108,000 after purchasing an additional 1,366 shares in the last quarter. NEXT Financial Group Inc boosted its holdings in shares of W.R. Berkley Corporation by 243.9% during the 2nd quarter. NEXT Financial Group Inc now owns 1,809 shares of the insurance provider’s stock valued at $125,000 after acquiring an additional 1,283 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of W.R. Berkley Corporation by 6.9% during the 2nd quarter. IFP Advisors Inc now owns 2,207 shares of the insurance provider’s stock valued at $153,000 after acquiring an additional 143 shares during the last quarter. Parametrica Management Ltd purchased a new position in shares of W.R. Berkley Corporation in the second quarter worth approximately $203,000. Finally, Advisor Partners LLC purchased a new position in shares of W.R. Berkley Corporation in the second quarter worth approximately $213,000. Institutional investors and hedge funds own 71.18% of the company’s stock.
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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