W. R. Berkley Stock Set to Split on Wednesday, July 10th (NYSE:WRB)

W. R. Berkley Co. (NYSE:WRB - Free Report) shares are scheduled to split on Wednesday, July 10th. The 3-2 split was announced on Wednesday, June 12th. The newly created shares will be issued to shareholders after the closing bell on Tuesday, July 9th.

W. R. Berkley Stock Down 0.7 %

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WRB stock opened at $80.49 on Monday. The stock has a fifty day moving average of $79.36 and a 200-day moving average of $79.51. W. R. Berkley has a fifty-two week low of $57.42 and a fifty-two week high of $89.18. The company has a market capitalization of $20.58 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.05 and a beta of 0.63. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.36 and a current ratio of 0.36.

W. R. Berkley (NYSE:WRB - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The insurance provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. W. R. Berkley had a net margin of 12.23% and a return on equity of 20.51%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same period in the prior year, the firm earned $1.00 earnings per share. The company's revenue was up 11.0% compared to the same quarter last year. As a group, equities research analysts predict that W. R. Berkley will post 5.82 earnings per share for the current year.

W. R. Berkley Increases Dividend

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The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 24th will be issued a dividend of $0.12 per share. This is a boost from W. R. Berkley's previous quarterly dividend of $0.11. The ex-dividend date is Monday, June 24th. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%. W. R. Berkley's payout ratio is presently 7.80%.

Analysts Set New Price Targets

A number of research firms recently issued reports on WRB. Wells Fargo & Company decreased their price objective on W. R. Berkley from $99.00 to $94.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 24th. Truist Financial lowered their price target on shares of W. R. Berkley from $95.00 to $93.00 and set a "buy" rating on the stock in a report on Wednesday, April 24th. BMO Capital Markets cut their price objective on shares of W. R. Berkley from $93.00 to $87.00 and set a "market perform" rating for the company in a research report on Wednesday, April 24th. The Goldman Sachs Group lowered shares of W. R. Berkley from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $88.00 to $83.00 in a report on Thursday, June 13th. Finally, Royal Bank of Canada cut their price target on shares of W. R. Berkley from $88.00 to $86.00 and set a "sector perform" rating for the company in a report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $88.88.

Check Out Our Latest Research Report on W. R. Berkley

Institutional Trading of W. R. Berkley

Hedge funds have recently made changes to their positions in the stock. Bruce G. Allen Investments LLC bought a new stake in W. R. Berkley during the fourth quarter worth about $25,000. Glassman Wealth Services boosted its stake in W. R. Berkley by 123.1% in the fourth quarter. Glassman Wealth Services now owns 357 shares of the insurance provider's stock worth $25,000 after buying an additional 197 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in W. R. Berkley by 106.1% in the third quarter. Parkside Financial Bank & Trust now owns 406 shares of the insurance provider's stock worth $26,000 after buying an additional 209 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in shares of W. R. Berkley by 132.6% during the third quarter. Raleigh Capital Management Inc. now owns 414 shares of the insurance provider's stock worth $26,000 after acquiring an additional 236 shares in the last quarter. Finally, VisionPoint Advisory Group LLC bought a new stake in shares of W. R. Berkley in the 3rd quarter worth approximately $27,000. 68.82% of the stock is owned by institutional investors.

About W. R. Berkley

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.

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