Analyst Consensus ?
ConsensusHold30 ratings
Bullish723.3%
Neutral1756.7%
Bearish620.0%
W. R. Berkley Corporation · WRB · FY2025 Q3 · Calendar Q4 2025
W.R. Berkley: Strong Q3, capital flexibility offsets market risks
The supplied analysis supports a constructive but conditional view: resilient premium growth, disciplined underwriting, strong investment income and ample capital provide support, while catastrophe-market softening, liability inflation, competition and tariff exposure limit confidence in durability.
Reported After market closeNYSEFinancial Services
$25.68B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.10
Consensus $1.11
EPS surprise
-0.9%
Reported versus consensus
Reported revenue
$3.77B
Consensus $3.15B
Revenue surprise
+19.5%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
+2.1%
Event window
SPY move
-0.0%
Same window
Abnormal move
+2.1%
Stock minus SPY
Volume
2.6×
Versus trailing sessions
Subsequent drift
+3.3%
Up to 20 sessions
WRBSPY benchmark
Ask FN2 about WRB FY2025 Q3
Transcript, numbers and history already loaded
Why did WRB rise 2.1% after missing EPS estimates in FY2025 Q3?What changed in WRB's guidance and outlook in FY2025 Q3?Give me the bull and bear case for WRB after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the current analysis emphasizes exceptional Q3 performance, a larger capital-return opportunity set and continued portfolio-duration extension. It also shifts the near-term watch list toward property-catastrophe market softening, social inflation and auto-liability exposure.
Guidance delta
No formal guidance was provided in the supplied current-quarter analysis. The prior-quarter analysis described guidance sentiment as lowered.
Key takeaways
- Management described Q3 performance as exceptional, with record premium growth and high profitability.
- Underwriting remained disciplined, while investment income benefited from the fixed-maturity portfolio.
- Significant excess capital gives management options for dividends, share repurchases or strategic moves, but no major acquisitions were planned.
Management priorities
- Maintain focus on small/admitted and specialty market segments, including Berkley One and accident & health.
- Continue a proactive capital-return program through dividends and share repurchases.
- Extend fixed-maturity portfolio duration while monitoring property-catastrophe reinsurance conditions.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$68.98Current
$53.36Low
$69.3Average
$89High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Mizuho | Neutral | Neutral | Maintain | Sep 16, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 27, 2026 |
| Wells Fargo | Underweight | Underweight | Maintain | Jul 21, 2026 |
| Truist Securities | Buy | Buy | Maintain | Jul 21, 2026 |
| B of A Securities | Underperform | Neutral | Downgrade | Jul 16, 2026 |
| Evercore ISI Group | Underperform | Underperform | Maintain | Jul 10, 2026 |
| Cantor Fitzgerald | Neutral | Neutral | Maintain | Jul 9, 2026 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Jul 8, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jul 6, 2026 |
| Barclays | Underweight | Underweight | Maintain | Jun 12, 2026 |
| Goldman Sachs | Buy | Neutral | Upgrade | Jun 8, 2026 |
| Argus Research | Hold | Buy | Downgrade | Apr 27, 2026 |
| BMO Capital | Market Perform | Underperform | Upgrade | Apr 23, 2026 |
| Jefferies | Hold | Hold | Maintain | Jan 27, 2026 |
| TD Cowen | Sell | Hold | Downgrade | Jan 20, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jan 28, 2025 |
| Janney Montgomery Scott | Buy | Buy | Maintain | Nov 11, 2022 |
| Boenning & Scattergood | Outperform | Neutral | Upgrade | Sep 20, 2021 |
| Deutsche Bank | Hold | Hold | Maintain | Apr 21, 2021 |
| Credit Suisse | Outperform | Outperform | Maintain | Jan 11, 2021 |
| CFRA | Hold | Hold | Maintain | Apr 24, 2020 |
| Buckingham Research | Buy | Neutral | Upgrade | Jan 22, 2020 |
| Buckingham | Buy | Neutral | Upgrade | Jan 22, 2020 |
| Bank of America | Underperform | Neutral | Downgrade | Jun 14, 2018 |
| Sterne Agee CRT | Neutral | Neutral | Maintain | Sep 21, 2015 |
| Keefe Bruyette & Woods | Market Perform | Market Perform | Maintain | Oct 27, 2014 |
| Compass Point | Neutral | Neutral | Maintain | Oct 27, 2014 |
| Macquarie | Neutral | Neutral | Maintain | Oct 16, 2013 |
| Citigroup | Neutral | Neutral | Maintain | Oct 12, 2012 |
| BGB Securities | Hold | Buy | Downgrade | Apr 25, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $68.98. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| UBS | Analyst unavailable | $77 | $75.61 | +11.6% | Jul 27, 2026 |
| Mizuho Securities | Analyst unavailable | $74 | $72.71 | +7.3% | Jul 21, 2026 |
| Oppenheimer | Analyst unavailable | $70 | $72.71 | +1.5% | Jul 21, 2026 |
| Atlantic Equities | Analyst unavailable | $74 | $70.68 | +7.3% | Jul 15, 2026 |
| Evercore ISI | Analyst unavailable | $68 | $72.02 | -1.4% | Jul 10, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $74 | $71.28 | +7.3% | Jul 9, 2026 |
| Mizuho Securities | Yaron Kinar | $72 | $71.28 | +4.4% | Jul 9, 2026 |
| Barclays | Alex Scott | $62 | $67.54 | -10.1% | Jun 12, 2026 |
| Wells Fargo | Analyst unavailable | $58 | $68.57 | -15.9% | Jun 8, 2026 |
| UBS | Analyst unavailable | $68 | $66.64 | -1.4% | Apr 27, 2026 |
| BMO Capital | Analyst unavailable | $68 | $67.5 | -1.4% | Apr 23, 2026 |
| Cantor Fitzgerald | Ryan Tunis | $71 | $67.21 | +2.9% | Apr 9, 2026 |
| Cantor Fitzgerald | Ryan Tunis | $75 | $67.87 | +8.7% | Feb 2, 2026 |
| UBS | Analyst unavailable | $71 | $68.58 | +2.9% | Feb 2, 2026 |
| Morgan Stanley | Analyst unavailable | $73 | $67.5 | +5.8% | Jan 28, 2026 |
| Truist Financial | Analyst unavailable | $80 | $67.09 | +16.0% | Jan 27, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $76 | $69.6 | +10.2% | Jan 14, 2026 |
| Mizuho Securities | Yaron Kinar | $69 | $68 | +0.0% | Jan 14, 2026 |
| Wells Fargo | Analyst unavailable | $68 | $68.71 | -1.4% | Jan 13, 2026 |
| Barclays | Alex Scott | $64 | $69.29 | -7.2% | Jan 8, 2026 |
| Goldman Sachs | Analyst unavailable | $73 | $68.49 | +5.8% | Jan 7, 2026 |
| Evercore ISI | Analyst unavailable | $69 | $69.99 | +0.0% | Jan 7, 2026 |
| Morgan Stanley | Analyst unavailable | $75 | $69.1 | +8.7% | Dec 16, 2025 |
| Mizuho Securities | Analyst unavailable | $67 | $69.1 | -2.9% | Dec 15, 2025 |
| Morgan Stanley | Analyst unavailable | $80 | $77.51 | +16.0% | Nov 17, 2025 |
| Cantor Fitzgerald | Analyst unavailable | $78 | $75.1 | +13.1% | Oct 27, 2025 |
| BMO Capital | Analyst unavailable | $64 | $75 | -7.2% | Oct 22, 2025 |
| Truist Financial | Analyst unavailable | $84 | $73.48 | +21.8% | Oct 21, 2025 |
| Wells Fargo | Elyse Greenspan | $66 | $73.48 | -4.3% | Oct 21, 2025 |
| Jefferies | Andrew Andersen | $75 | $73.48 | +8.7% | Oct 21, 2025 |
| UBS | Analyst unavailable | $87 | $77.77 | +26.1% | Oct 8, 2025 |
| Barclays | Analyst unavailable | $73 | $77.77 | +5.8% | Oct 8, 2025 |
| Cantor Fitzgerald | Ryan Tunis | $82 | $70.01 | +18.9% | Aug 12, 2025 |
| Wells Fargo | Elyse Greenspan | $70 | $70.85 | +1.5% | Apr 22, 2025 |
| Goldman Sachs | Robert Cox | $69 | $62.27 | +0.0% | Nov 25, 2024 |
| CFRA | Catherine Seifert | $67 | $59.13 | -2.9% | Oct 23, 2024 |
| UBS | Brian Meredith | $69 | $58.53 | +0.0% | Oct 22, 2024 |
| Bank of America Securities | Joshua Shanker | $76 | $61.03 | +10.2% | Oct 22, 2024 |
| RBC Capital | Scott Heleniak | $63 | $61.03 | -8.7% | Oct 22, 2024 |
| Goldman Sachs | Alex Scott | $61 | $61.03 | -11.6% | Oct 22, 2024 |
| Evercore ISI | David Motemaden | $60 | $61.03 | -13.0% | Oct 22, 2024 |
| Truist Financial | Mark Hughes | $68 | $59.28 | -1.4% | Oct 17, 2024 |
| Jefferies | Yaron Kinar | $57 | $57.47 | -17.4% | Oct 9, 2024 |
| Barclays | Alex Scott | $56 | $60.58 | -18.8% | Sep 4, 2024 |
| Wells Fargo | Elyse Greenspan | $59 | $51.82 | -14.5% | Jul 23, 2024 |
| Goldman Sachs | Alex Scott | $83 | $78.17 | +20.3% | Jun 13, 2024 |
| BMO Capital | Michael Zaremski | $89 | $78.04 | +29.0% | Apr 25, 2024 |
| RBC Capital | Scott Heleniak | $88 | $86.61 | +27.6% | Apr 5, 2024 |
| Morgan Stanley | Analyst unavailable | $68 | $67.7 | -1.4% | Apr 27, 2022 |
| Morgan Stanley | Analyst unavailable | $67 | $66.69 | -2.9% | Apr 25, 2022 |
| Morgan Stanley | Analyst unavailable | $44.67 | $71.05 | -35.2% | Apr 21, 2022 |
| UBS | Brian Meredith | $40.93 | $21.72 | -40.7% | Jul 26, 2021 |
| Deutsche Bank | Phil Stefano | $53.36 | $34.88 | -22.6% | Apr 21, 2021 |
Track every rating change on WRB the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationW. R. Berkley Corporation functions as an insurance holding company, primarily underwriting commercial policies across the United States and globally. Its extensive operations are divided into two principal divisions: Insurance, and Reinsurance & Monoline Excess. The Insurance segment delivers a wide spectrum of commercial insurance solutions. This includes foundational coverages such as general liability, property, commercial auto, and professional liability, alongside specialized offerings like workers' compensation, environmental policies for diverse businesses, directors and officers (D&O) liability, cyber risk protection, and niche policies for fine arts and jewelry.…
Historical context
All WRB earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| FDS FactSet Research Systems Inc. | FY2026 Q4 · Calendar Q3 2026 | +3.9% | +3.8% | FactSet reports record FY26 results as AI and MCP adoption accelerate |
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the WRB recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-04T15:20:41.255192+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-04T15:20:41.252415+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-04. For educational purposes only; not investment advice.