W. R. Berkley (NYSE:WRB) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

W. R. Berkley (NYSE:WRB) announced its quarterly earnings data on Monday. The insurance provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01, Briefing.com reports. W. R. Berkley had a net margin of 12.05% and a return on equity of 21.34%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the firm earned $0.90 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year.

W. R. Berkley Price Performance

WRB stock traded up $0.60 during trading on Wednesday, hitting $59.13. The stock had a trading volume of 2,180,503 shares, compared to its average volume of 1,811,444. The stock has a market cap of $22.68 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 1.07 and a beta of 0.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38. The company’s 50 day moving average price is $58.32 and its two-hundred day moving average price is $55.57. W. R. Berkley has a 1-year low of $43.20 and a 1-year high of $61.96.

W. R. Berkley Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a $0.08 dividend. The ex-dividend date was Monday, September 23rd. This represents a $0.32 annualized dividend and a dividend yield of 0.54%. W. R. Berkley’s dividend payout ratio is currently 8.51%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank of Canada raised their price target on W. R. Berkley from $57.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday. Barclays assumed coverage on shares of W. R. Berkley in a research report on Wednesday, September 4th. They set an “underweight” rating and a $56.00 target price on the stock. UBS Group raised their price objective on shares of W. R. Berkley from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company upped their target price on shares of W. R. Berkley from $63.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Truist Financial lifted their price target on shares of W. R. Berkley from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $63.08.

W. R. Berkley Company Profile

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writers worldwide. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines, and specialty personal lines.