W. R. Berkley Co. (NYSE:WRB) Expected to Post Q3 2023 Earnings of $1.09 Per Share

Posted by Defense World Staff on Aug 5th, 2023

W. R. Berkley Co. (NYSE:WRB – Free Report) – Analysts at Zacks Research raised their Q3 2023 earnings estimates for W. R. Berkley in a research report issued on Thursday, August 3rd. Zacks Research analyst T. De now expects that the insurance provider will post earnings per share of $1.09 for the quarter, up from their prior forecast of $1.07. The consensus estimate for W. R. Berkley’s current full-year earnings is $4.51 per share. Zacks Research also issued estimates for W. R. Berkley’s Q4 2023 earnings at $1.23 EPS, FY2023 earnings at $4.46 EPS, Q1 2024 earnings at $1.37 EPS, Q2 2024 earnings at $1.31 EPS, Q3 2024 earnings at $1.28 EPS, FY2024 earnings at $5.23 EPS and Q2 2025 earnings at $1.62 EPS.

W. R. Berkley (NYSE:WRB – Get Free Report) last posted its quarterly earnings data on Thursday, July 20th. The insurance provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.07. W. R. Berkley had a return on equity of 17.79% and a net margin of 10.85%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter last year, the business earned $1.12 EPS. The company’s quarterly revenue was up 19.2% compared to the same quarter last year.

A number of other research analysts have also recently commented on the company. Royal Bank of Canada lowered their target price on W. R. Berkley from $82.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday, April 21st. Keefe, Bruyette & Woods cut their price objective on W. R. Berkley from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Tuesday, April 18th. Evercore ISI decreased their price objective on shares of W. R. Berkley from $85.00 to $73.00 and set an “outperform” rating for the company in a research note on Thursday, April 13th. Jefferies Financial Group decreased their price target on shares of W. R. Berkley from $75.00 to $69.00 and set a “hold” rating for the company in a research report on Monday, April 10th. Finally, StockNews.com upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.00.

W. R. Berkley Stock Down 0.7 %

Shares of NYSE WRB opened at $61.90 on Friday. The business’s fifty day moving average price is $59.31 and its 200-day moving average price is $61.98. W. R. Berkley has a one year low of $55.50 and a one year high of $76.99. The stock has a market capitalization of $16.14 billion, a PE ratio of 13.60, a P/E/G ratio of 1.54 and a beta of 0.63. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.37 and a quick ratio of 0.37.

W. R. Berkley Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Monday, June 26th were issued a $0.11 dividend. The ex-dividend date was Friday, June 23rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.71%. This is an increase from W. R. Berkley’s previous quarterly dividend of $0.10. W. R. Berkley’s dividend payout ratio is presently 9.67%.

Institutional Trading of W. R. Berkley

Several institutional investors and hedge funds have recently made changes to their positions in WRB. Allworth Financial LP increased its position in W. R. Berkley by 287.9% in the 2nd quarter. Allworth Financial LP now owns 415 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 308 shares during the period. Clear Street Markets LLC raised its holdings in shares of W. R. Berkley by 92.3% in the first quarter. Clear Street Markets LLC now owns 398 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 191 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in W. R. Berkley in the fourth quarter valued at about $30,000. First Manhattan Co. boosted its holdings in W. R. Berkley by 50.0% in the first quarter. First Manhattan Co. now owns 486 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 162 shares during the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in W. R. Berkley in the 4th quarter valued at $32,000. 67.96% of the stock is currently owned by hedge funds and other institutional investors.

About W. R. Berkley

(Get Free Report)

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and general and professional liability lines.