W.R. Berkley Corp. (WRB)
by Zacks Equity ResearchOctober 11, 2011 | Comments : 0 Recommended this article: (0)
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Berkley has been hurt by soft pricing conditions and increasing competition. The trend of loss claims shows a divergence from declining losses over the past several years. An increase in claim costs will offset the premium rate improvement seen lately, thus pressurizing underwriting margins.
Our six-month target price of $27.00 per share equates to about 10.6x our earnings estimate for 2011. Combined with the $0.32 per share annual dividend, this target price implies an expected negative return of 8.2% over that period.
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