W.R. Berkley (NYSE:WRB) Issues Quarterly Earnings Results

W.R. Berkley (NYSE:WRB) issued its earnings results on Monday. The insurance provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.15 by $0.02, FiscalAI reports. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.82 billion. W.R. Berkley had a return on equity of 19.44% and a net margin of 12.94%.

W.R. Berkley Price Performance

Shares of W.R. Berkley stock traded down $1.32 on Monday, hitting $74.10. 3,343,037 shares of the company traded hands, compared to its average volume of 2,310,465. W.R. Berkley has a 12-month low of $62.87 and a 12-month high of $78.96. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.29. The company has a market cap of $27.51 billion, a P/E ratio of 15.22, a P/E/G ratio of 1.79 and a beta of 0.27. The firm’s 50-day simple moving average is $69.77 and its 200 day simple moving average is $69.06.

W.R. Berkley Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were given a dividend of $0.10 per share. The ex-dividend date was Monday, September 21st. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. W.R. Berkley’s dividend payout ratio (DPR) is 8.21%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WRB shares. Evercore reissued an “underperform” rating and issued a $68.00 price target on shares of W.R. Berkley in a report on Friday, July 10th. Mizuho set a $70.00 price objective on shares of W.R. Berkley and gave the company a “neutral” rating in a research note on Wednesday, October 7th. UBS Group reaffirmed a “neutral” rating and set a $77.00 target price (up from $71.00) on shares of W.R. Berkley in a report on Monday, July 27th. Keefe, Bruyette & Woods reissued a “market perform” rating on shares of W.R. Berkley in a report on Tuesday, July 21st. Finally, Oppenheimer set a $70.00 price target on shares of W.R. Berkley in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $70.28.

About W.R. Berkley

W.R. Berkley Corporation is an insurance holding company that operates through a group of specialized insurance businesses. The company primarily provides commercial property and casualty insurance, serving businesses, organizations and other commercial customers with coverage tailored to specific industries and risks.

Its products and services include workers’ compensation, commercial automobile, property, general liability, professional liability, directors and officers liability, excess and surplus lines, and other specialty insurance products.