W. R. Berkley Corp (NYSE:WRB) Expected to Post Quarterly Sales of $1.91 Billion

Equities analysts predict that W. R. Berkley Corp (NYSE:WRB) will announce $1.91 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for W. R. Berkley’s earnings. The highest sales estimate is $1.94 billion and the lowest is $1.89 billion. W. R. Berkley reported sales of $1.92 billion during the same quarter last year, which would indicate a negative year over year growth rate of 0.5%. The company is expected to issue its next earnings results on Tuesday, October 22nd.

According to Zacks, analysts expect that W. R. Berkley will report full-year sales of $7.60 billion for the current financial year, with estimates ranging from $7.51 billion to $7.73 billion. For the next financial year, analysts expect that the firm will report sales of $7.96 billion, with estimates ranging from $7.70 billion to $8.24 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover W. R. Berkley.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Tuesday, July 23rd. The insurance provider reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.18. W. R. Berkley had a net margin of 8.81% and a return on equity of 10.55%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the prior year, the firm posted $1.40 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year.

A number of brokerages have commented on WRB. Zacks Investment Research raised shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Saturday, July 27th. UBS Group increased their price objective on shares of W. R. Berkley from $53.00 to $56.00 and gave the company a “sell” rating in a research report on Wednesday, April 24th. Deutsche Bank downgraded shares of W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 price objective on the stock. in a research report on Wednesday, June 26th. Boenning Scattergood reissued a “hold” rating on shares of W. R. Berkley in a research report on Wednesday, April 24th. Finally, Morgan Stanley increased their price objective on shares of W. R. Berkley from $63.00 to $73.00 and gave the company an “equal weight” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. W. R. Berkley currently has an average rating of “Hold” and a consensus price target of $65.40.

In other news, Director Mark Ellwood Brockbank sold 77,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $66.61, for a total value of $5,128,970.00. Following the completion of the transaction, the director now owns 51,329 shares in the company, valued at approximately $3,419,024.69. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 21.70% of the company’s stock.

Several institutional investors have recently modified their holdings of WRB. Krane Funds Advisors LLC acquired a new position in shares of W. R. Berkley in the 2nd quarter valued at $26,000. Steward Partners Investment Advisory LLC acquired a new position in shares of W. R. Berkley in the 2nd quarter valued at $27,000. Hanson McClain Inc. boosted its holdings in shares of W. R. Berkley by 50.0% in the 2nd quarter. Hanson McClain Inc. now owns 525 shares of the insurance provider’s stock valued at $35,000 after buying an additional 175 shares in the last quarter. Johnson Financial Group Inc. boosted its holdings in shares of W. R. Berkley by 49.9% in the 2nd quarter. Johnson Financial Group Inc. now owns 553 shares of the insurance provider’s stock valued at $36,000 after buying an additional 184 shares in the last quarter. Finally, Asset Dedication LLC boosted its holdings in shares of W. R. Berkley by 49.9% in the 2nd quarter. Asset Dedication LLC now owns 571 shares of the insurance provider’s stock valued at $38,000 after buying an additional 190 shares in the last quarter. Institutional investors and hedge funds own 72.63% of the company’s stock.

Shares of NYSE:WRB traded up $1.22 during trading hours on Tuesday, reaching $72.23. The stock had a trading volume of 529,900 shares, compared to its average volume of 642,012. W. R. Berkley has a 1 year low of $45.91 and a 1 year high of $72.62. The firm’s 50 day moving average is $68.71 and its 200-day moving average is $69.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market capitalization of $13.00 billion, a price-to-earnings ratio of 27.05, a P/E/G ratio of 2.76 and a beta of 0.72.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 19th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, September 18th. W. R. Berkley’s payout ratio is 16.48%.

W. R. Berkley Company Profile

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

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Earnings History and Estimates for W. R. Berkley (NYSE:WRB)

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