W.R. Berkley (WRB) Tops Q3 EPS by 8c
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Alternative Investment Income Offsets Low Underwriting Income; Compass Point Remains Neutral on W.R. Berkley (WRB)
October 27, 2015 7:46 AM EDTCompass Point reiterated a Neutral rating and $54.00 price target on W.R. Berkley (NYSE: WRB) following the company's 3Q15 earnings results. WRB reported operating EPS of $0.91 versus the consensus estimate of $0.83. The combination of slightly lower earned premiums and slightly higher combined ratio caused underwriting income to come in below estimates. However, investment income, particularly in alternative investments, more than offset lower underwriting income.
Analyst Ken Billingsley commented, "Hedge... More
