W. R. Berkley (NYSE:WRB) Releases Earnings Results, Beats Expectations By $0.01 EPS

W. R. Berkley (NYSE:WRB) released its earnings results on Monday. The insurance provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01, Briefing.com reports. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.93 billion. W. R. Berkley had a return on equity of 21.34% and a net margin of 12.05%. The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 earnings per share.

W. R. Berkley Stock Performance

NYSE:WRB opened at $61.03 on Tuesday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.36. W. R. Berkley has a 12-month low of $41.82 and a 12-month high of $61.96. The stock has a 50-day moving average price of $58.24 and a 200 day moving average price of $55.55. The stock has a market capitalization of $23.40 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.07 and a beta of 0.62.

W. R. Berkley Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, September 23rd. W. R. Berkley’s dividend payout ratio is currently 8.51%.

Analysts Set New Price Targets

WRB has been the topic of a number of research analyst reports. StockNews.com downgraded W. R. Berkley from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. Wells Fargo & Company upped their price target on W. R. Berkley from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Truist Financial upped their price target on W. R. Berkley from $64.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, October 17th. TD Cowen initiated coverage on W. R. Berkley in a report on Monday, July 1st. They issued a “buy” rating and a $68.67 target price on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $57.00 target price on shares of W. R. Berkley in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $61.64.

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.