W. R. Berkley Co. (NYSE:WRB – Get Rating) announced a quarterly dividend on Wednesday, June 15th, RTT News reports. Investors of record on Monday, June 27th will be paid a dividend of 0.10 per share by the insurance provider on Thursday, July 7th. This represents a $0.40 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Friday, June 24th. This is a positive change from W. R. Berkley’s previous quarterly dividend of $0.09.
W. R. Berkley has increased its dividend by an average of 13.0% per year over the last three years and has raised its dividend annually for the last 22 consecutive years. W. R. Berkley has a dividend payout ratio of 8.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect W. R. Berkley to earn $4.30 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 9.3%.
Shares of WRB stock opened at $66.93 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.41. W. R. Berkley has a twelve month low of $47.13 and a twelve month high of $72.32. The company has a market cap of $17.75 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.90 and a beta of 0.75. The business has a fifty day simple moving average of $68.44 and a 200 day simple moving average of $62.64.
Several brokerages recently weighed in on WRB. StockNews.com upgraded W. R. Berkley from a “hold” rating to a “buy” rating in a research report on Thursday, April 28th. Morgan Stanley upped their target price on W. R. Berkley from $68.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, May 23rd. Royal Bank of Canada upped their target price on W. R. Berkley from $63.00 to $75.00 in a report on Friday, April 8th. Wells Fargo & Company upped their target price on W. R. Berkley from $65.00 to $76.00 and gave the stock an “overweight” rating in a report on Tuesday, April 12th. Finally, Truist Financial upped their target price on W. R. Berkley from $73.33 to $83.00 in a report on Tuesday, April 26th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.60.
Hedge funds have recently modified their holdings of the company. Cibc World Market Inc. acquired a new stake in shares of W. R. Berkley in the first quarter valued at about $254,000. Cresset Asset Management LLC increased its stake in shares of W. R. Berkley by 47.0% in the first quarter. Cresset Asset Management LLC now owns 3,762 shares of the insurance provider’s stock valued at $250,000 after buying an additional 1,202 shares during the period. Loomis Sayles & Co. L P acquired a new stake in shares of W. R. Berkley in the first quarter valued at about $238,000. Toroso Investments LLC acquired a new stake in shares of W. R. Berkley in the first quarter valued at about $227,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of W. R. Berkley by 13.4% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,400 shares of the insurance provider’s stock valued at $226,000 after buying an additional 402 shares during the period. 49.90% of the stock is owned by institutional investors.
W. R. Berkley Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on W. R. Berkley (WRB)
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