Berkley (WRB) Declares $0.10 Dividend
Berkley said on February 24, 2023 that its board of directors declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of March 9, 2023 will receive the payment on March 23, 2023. Previously, the company paid $0.10 per share.
At the current share price of $66.19 / share, the stock's dividend yield is 0.60%. Looking back five years and taking a sample every week, the average dividend yield has been 1.65%, the lowest has been 0.41%, and the highest has been 3.90%. The standard deviation of yields is 0.84 (n=237).
The current dividend yield is 1.24 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.17. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.20%.
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Analyst Price Forecast Suggests 28.18% Upside
As of March 1, 2023, the average one-year price target for Berkley is $84.85. The forecasts range from a low of $75.75 to a high of $93.45. The average price target represents an increase of 28.18% from its latest reported closing price of $66.19.
The projected annual revenue for Berkley is $12,092MM, an increase of 8.29%. The projected annual EPS is $4.98, a decrease of 0.15%.
What is the Fund Sentiment?
There are 1410 funds or institutions reporting positions in Berkley. This is an increase of 81 owner(s) or 6.09% in the last quarter. Average portfolio weight of all funds dedicated to WRB is 0.28%, an increase of 3.99%. Total shares owned by institutions increased in the last three months by 2.36% to 228,541K shares. The put/call ratio of WRB is 0.54, indicating a bullish outlook.
What are large shareholders doing?
Atlanta Capital Management Co L L C holds 9,025K shares representing 3.41% ownership of the company. In it's prior filing, the firm reported owning 8,982K shares, representing an increase of 0.48%. The firm decreased its portfolio allocation in WRB by 1.70% over the last quarter.
Kayne Anderson Rudnick Investment Management holds 8,370K shares representing 3.16% ownership of the company. In it's prior filing, the firm reported owning 8,932K shares, representing a decrease of 6.71%. The firm decreased its portfolio allocation in WRB by 41.39% over the last quarter.
EAASX - Eaton Vance Atlanta Capital SMID-Cap Fund holds 7,127K shares representing 2.69% ownership of the company. No change in the last quarter.
Janus Henderson Group holds 7,049K shares representing 2.66% ownership of the company. In it's prior filing, the firm reported owning 9,294K shares, representing a decrease of 31.86%. The firm decreased its portfolio allocation in WRB by 71.53% over the last quarter.
JAENX - Janus Henderson Enterprise Fund Class T holds 6,549K shares representing 2.48% ownership of the company. No change in the last quarter.
W.R. Berkley Background Information
(This description is provided by the company.)
Founded in 1967, W. R. Berkley Corporation is an insurance holding company that is among the largest commercial lines writers in the United States and operates worldwide in two segments of the property casualty insurance business: Insurance and Reinsurance & Monoline Excess.
This story originally appeared on Fintel.