W.R. Berkley CorporationNYSE: WRB
Financials · Property & Casualty Insurance
$66.42
-0.61%
Vol: 1.2M
Research Digest
Friday, May 1, 2026
WR Berkley posts record Q1 operating income of $514.3M; downgraded to Hold at Argus
W.R. Berkley reported record Q1 2026 operating income of $514.3M and net income up 23.4% to $515.2M. Company returned $336M to shareholders via $302M in share buybacks and $34M in dividends, with average rate increases excluding workers' comp at 7.2%. Argus downgraded the stock to Hold from Buy earlier in the week citing competitive pressure in property lines. TD Cowen downgraded outlook to Sell in January 2026.
Previous Market Intelligence
13 daysApr 30WR Berkley reports record Q1 2026 operating income of $514M with 21.2% ROE; announces strategic shift to pursue growth over rate increases.Positive▶
WR Berkley released Q1 2026 earnings on April 21 with record operating income of $514M and net income of $515M ($1.30-1.31 per share), beating consensus of $1.13 by $0.17 with revenue of $3.69B. Combined ratio improved to 90.7% (88.3% ex-cat) with catastrophe losses down to $76M from $111M prior year. Net investment income hit record $404M, up 12.2% YoY. Insurance segment premiums grew 3.2% to $2.8B led by professional lines and international operations. Management signaled deliberate shift away from hard rate push toward growth pursuit. Analyst price targets fell: KBW lowered to $66 from $74, UBS lowered to $69 from $71.
Apr 29WR Berkley reports Q1 2026 record operating income of $514.3M with net income up 23.4% YoY to $515.2M.Positive▶
W.R. Berkley Corporation delivered a strong first quarter 2026 with net income of approximately $515.2 million, a 23.4% increase from the prior year period. Operating income hit a record $514.3 million. The company reported average Q1 rate increases excluding workers' compensation of 7.2%, though executives noted increased competitive pressure in property lines while opportunities remain in casualty. The company repurchased 4.5 million shares for $302 million and paid $34 million in dividends. TD Cowen downgraded the stock to Sell in January, citing competitive market pressures.
Apr 16W.R. Berkley reports record 2025 results with $1.4B investment income, 21.4% Q4 ROE, and Mitsui Sumitomo acquires 12.5% stake.Mixed▶
W.R. Berkley Corporation reported exceptional 2025 results with record $1.4 billion investment income, record net premiums written of $3.4 billion in Q2 2025, and 26.7% book value growth for the full year. Q4 ROE reached 21.4% with a 90.7% combined ratio and $970.5 million returned to shareholders. The company returned to profitability with Q2 2025 net income of $401.3 million versus $371.9 million in Q2 2024. Mitsui Sumitomo Insurance (Japan) acquired at least 12.5% ownership through agreements with the Berkley Family and will nominate a director designee to the board. Multiple analyst downgrades occurred in early April, with Cantor Fitzgerald downgrading to Neutral citing 2026 growth challenges. Average analyst rating is Hold with a 12-month price target of $70.71, suggesting 7.56% upside from the $66.10 current price.
Apr 15W.R. Berkley scheduled to report Q1 2026 earnings April 21; multiple analysts lower price targets.Neutral▶
W.R. Berkley will announce Q1 2026 earnings on April 21 after market close. Recent analyst activity shows mixed sentiment: Morgan Stanley lowered target from $73 to $72, UBS cut from $71 to $69, Barclays trimmed from $64 to $62. Downgraded to Neutral from Overweight at Cantor Fitzgerald on April 9. Consensus from 15 analysts is Hold with $70.71 price target.
Apr 14W.R. Berkley Q1 2026 earnings on April 21; multiple analysts cut price targets in early April.Negative▶
W.R. Berkley reports Q1 2026 earnings April 21. Morgan Stanley cut target to $72 from $73, KBW cut to $66 from $74, UBS cut to $69 from $71. Analysts express caution about heavy excess and surplus lines exposure. Record $1.4B investment income and 26.7% book value growth in 2025 with 90.7% combined ratio.
Apr 13Analyst price targets lowered; Q1 earnings due April 21 with EPS expected at $1.14, up YoY.Neutral▶
Keefe, Bruyette & Woods lowered WRB price target from $74 to $66, with UBS also cutting from $71 to $69. The company will report Q1 2026 earnings on April 21, with consensus expecting $1.14 EPS, up from prior year. Stock trades on consensus Hold rating from 19 brokerages.
Apr 10W.R. Berkley Reports Record 2025 Results; Mitsui Sumitomo Raises StakeNeutral▶
Record $1.4B investment income and 26.7% book value growth. Mitsui Sumitomo increased stake to 15.7% with board seat.
Apr 9W. R. Berkley Reports Record $1.2B Underwriting With 21.4% Q4 ROE and 26.7% Book Value GrowthPositive▶
W. R. Berkley reported Q4 2025 revenue of $3.72 billion (16.61% above forecast) with record gross premiums written of $15.1 billion for full-year 2025. The company achieved record $1.4B investment income, 26.7% book value growth, 90.7% combined ratio, and returned $970.5M to shareholders. Mitsui Sumitomo increased stake to 15.7% (58.78M shares) and designated Andrew Carrier as director nominee. Analyst sentiment remains mixed with Morgan Stanley maintaining Equal-Weight (PT $72) and Keefe, Bruyette & Woods at Market Perform (PT $66).
Apr 8W.R. Berkley reported in-line Q4 with record $15.1B gross premiums but KBW cuts PT to $66.Mixed▶
WRB Q4 revenue $3.72B (16.61% above forecast), EPS $1.13 in-line. Record gross premiums $15.1B. Keefe Bruyette lowered PT to $66.
Apr 7KBW Lowers Price Target on Mixed FundamentalsNeutral▶
Keefe, Bruyette & Woods lowered W.R. Berkley's price target to $66 from $74 in early April 2026. Company reported in-line Q4 earnings with net income up 12.6% YoY and stable 21.1% ROE. Consensus Hold rating with modest growth expectations.
Apr 6WR Berkley declared $1.00 special dividend; Q4 earnings in-line but analyst price targets lowered.Neutral▶
W.R. Berkley Corporation Board declared special cash dividend of $1.00/share on common stock. Q4 earnings in-line with sales topping estimates. However, Keefe, Bruyette & Woods lowered price target to $66 from $74, and Brean Capital downgraded to Neutral from Buy on March 25, 2026. Insurance holding company with strong fundamentals: net income up 12.6% YoY, stable 21.1% ROE. Operates through Insurance and Reinsurance & Monoline Excess segments. KBW maintained Hold rating March 12. Hold consensus from 15 analysts, $70.71 target (7.56% upside).
Apr 3W.R. Berkley Q1 earnings April 21 expected $1.14 per share; Keefe Bruyette lowers price target to $66 from $74 on April 1.Neutral▶
W.R. Berkley will announce Q1 2026 earnings on April 21. Keefe, Bruyette & Woods lowered the price target to $66 from $74 while maintaining Market Perform. Brean Capital downgraded WRB to Neutral from Buy in March 2026. Mitsui Sumitomo Insurance insider buying aims to own 15% by end of March 2026.
Apr 2W.R. Berkley maintains outperformance amid analyst downgrade and Q1 2026 earnings aheadNeutral▶
W.R. Berkley traded at $66.28 on March 31, 2026 with strong fundamentals including Q4 2025 record quarterly pre-tax underwriting income of $338M (+14.9%) and operating income of $450M (+9.5%), with 21.4% return on equity. Keefe, Bruyette & Woods lowered its price target from $74 to $66 while maintaining "Market Perform" rating on April 1. Jefferies also lowered their target from $75 to $70 with a "Hold" rating. Q1 2026 earnings are expected April 21 with EPS guidance of $1.14, up 12.9% from $1.01 in the year-ago quarter. Mitsui Sumitomo Insurance completed investment bringing stake to 12.5%.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| WRBWR | $66.42 | -0.61% | +1.0% | 13.9x | 0.37 | $26.1B |
| CBCHUBB | $326.61 | -0.12% | +0.0% | 11.2x | 0.50 | $126.8B |
| PGRPROGRESSIVE | $199.87 | -0.70% | +2.5% | 12.5x | 0.33 | $117.6B |
| TRVTRAVELERS | $305.05 | -0.03% | +3.2% | 10.7x | 0.52 | $64.9B |
| ALLALLSTATE | $217.11 | -0.07% | +4.3% | 8.4x | 0.22 | $56.1B |
| HIGHARTFORD | $136.06 | -0.55% | +0.3% | 9.5x | 0.53 | $37.5B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.