W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writers worldwide. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines, and specialty personal lines. This segment also provides accident and health insurance and reinsurance products; insurance for commercial risks; casualty and specialty environmental products; specialized insurance coverages for fine arts and jewelry exposures; excess liability and inland marine coverage for small to medium-sized insureds; and commercial general liability, umbrella, professional liability, directors and officers, commercial property, and surety products, as well as products for technology, and life sciences and travel industries. In addition, this segment offers cyber risk solutions; crime and fidelity insurance products; medical professional coverages; workers' compensation insurance products; general insurance; personal lines insurance solutions, including home, condo/co-op, auto, and collectibles; automobile, law enforcement, public officials and educator's legal, and employment practices liability, as well as incidental medical and property and crime insurance products; at-risk and alternative risk insurance program management services; professional liability; energy and marine risks; and provides insurance products to the Lloyd's marketplace. The Reinsurance & Monoline Excess segment provides treaty and facultative reinsurance solutions; property and casualty reinsurance; facultative reinsurance products include automatic, semi-automatic and individual risk assumed reinsurance; and turnkey products such as cyber, employment practices liability insurance, liquor liability insurance and violent events. The company was founded in 1967 and is headquartered in Greenwich, Connecticut.

У W.R. Berkley сильная рентабельность сочетается с заметно более дорогой оценкой по капиталу, что и формирует осторожный взгляд на справедливую цену. P/E на уровне 14.16 лишь немного выше медианы отрасли, поэтому по прибыли компания не выглядит перегретой. При этом P/B 2.59 более чем вдвое выше отраслевой медианы, а это уже сигнал, что рынок платит премию за качество бизнеса и устойчивость, но не оставляет большого запаса прочности для переоценки вверх. P/S и P/FCF выглядят лучше рынка, что поддерживает тезис о нормальной или даже умеренно привлекательной оценке по денежному потоку и выручке. Рентабельность капитала очень сильная: ROE 39.29%, ROA 5.57% и ROI 30.28% существенно выше отрасли, а ROTE 21.35% подтверждает высокое качество страхового бизнеса. Динамика ROE и ROI за последние периоды заметно улучшилась, что говорит о росте эффективности использования капитала. С другой стороны, маржи прибыли и операционная маржа ниже отраслевых медиан, поэтому часть высокой доходности уже, вероятно, отражает структуру страхового портфеля и финансовый рычаг, а не исключительно операционное превосходство. Ликвидность слабая: quick ratio равен нулю, current ratio всего 0.33, и это типично для страховой модели, но всё же требует осторожности при оценке баланса. Долговая нагрузка умеренная и лучше отрасли по debt/equity, а долгосрочный долг выглядит стабильным, что снижает риск резкого ухудшения профиля риска. Выручка, активы, собственный капитал и денежные средства растут, что поддерживает фундаментальную устойчивость и способность генерировать прибыль. Чистая прибыль и операционная прибыль остаются высокими, хотя их траектория не выглядит линейно растущей, поэтому закладывать агрессивный апсайд было бы преждевременно. Дивидендная доходность сейчас нулевая, а в прошлых периодах была положительной, что убирает один из факторов поддержки акционерной доходности. В сумме это качественная, прибыльная и капиталоэффективная компания, но с премиальной оценкой по балансу и без явного дивидендного буфера, поэтому целевой прогноз стоит слегка снизить, сохраняя консервативный подход.

W.R. Berkley Corporation

Сильный индекс, незначительно упал. Быки в растерянности.

Strong index, slightly down. The bulls are confused.

Сильный индекс, без изменений. Рынок на стороне быков.

Strong index, flat. The market is on the bulls' side.

Средний индекс, значительно вырос. Увеличился приток средств в лонги.

Medium index, significantly up. The inflow of funds into longs has increased.

Высокая рентабельность и рост капитала поддерживают WRB, но премиальный P/B, слабая ликвидность и нулевая дивидендная доходность ограничивают апсайд.

Shares of Selective Insurance Group, Inc. SIGI have gained 9.1% in the year-to-date period, outperforming the industry’s decline of 2.9%. The company’s share price closed at $91.34 on Wednesday and is hovering near its 52-week high of $91.99. This proximity underscores investor confidence. It has the ingredients for further price appreciation.
Selective Insurance has outperformed its peers, including Axis Capital Holdings Limited AXS, NMI Holdings Inc. NMIH and W.R. Berkley Corporation WRB, which have lost 6.8%, 9.2% and 2.8%, respectively, in the year-to-date period.
1 Year Performance - SIGI, AXS, NMIH, WRB & Industry
Image Source: Zacks Investment Research
Target Price Reflects Potential Upside
Based on short-term price targets offered by seven analysts, the Zacks average price target is $92.43 per share. The average indicates a potential 2.4% upside from the last closing price.
SIGI’s Valuation
SIGI’s shares are trading at a premium compared to the industry. Its forward price-to-book value of 1.61X is higher than the industry average of 1.38X, but lower than the Finance sector’s 4.42X and the Zacks S&P 500 Composite’s 8.01X. It currently has a Value Score of A.
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SIGI’s Growth Projection Encourages
The Zacks Consensus Estimate for Selective Insurance’s 2026 EPS indicates a year-over-year increase of 5.8%. The consensus estimate for revenues is pegged at $5.5 billion, implying a year-over-year improvement of 3.2%.
The consensus estimate for 2027 EPS and revenues indicates an increase of 13.4% and 3.1%, respectively, from the corresponding 2026 estimates.
Optimistic Analyst Sentiment for SIGI
One analyst has raised estimates for 2026 and 2027 over the past 30 days, against no downward movement. Thus, the Zacks Consensus Estimate for 2026 and 2027 earnings has moved north 0.6% and 0.5%, respectively, over the same period.
SIGI’s Favorable Return on Equity
Return on equity in the trailing-12 months was 13.7%, better than the industry average of 6%. This highlights the company’s efficiency in utilizing shareholders’ funds.
Factors Favoring SIGI Stock
SIGI continues to prioritize underwriting profitability over aggressive premium growth. Strong performance in the Excess & Surplus (“E&S”) segment, with a combined ratio of 89.5% in first-quarter 2026 (vs 92.5% year-ago) and improved Personal Lines profitability, with a combined ratio of 92.8% (vs 98 % year-ago), highlights the benefits of disciplined underwriting and selective risk retention. Management is selectively retaining its best-performing accounts while reducing exposure to underperforming businesses.
SIGI continues to raise renewal rates to address elevated loss-cost trends. The company achieved renewal price increases of nearly 10% in general liability over the past seven quarters, well above industry averages. In commercial auto liability, it witnessed pure price increases of almost 12% in the first quarter. Management believes these rate increases position the company to offset social inflation and improve long-term underwriting profitability.
Selective Insurance is steadily expanding its Standard Commercial Lines business toward a near-national footprint, now operating in 36 states and the District of Columbia. This growth is driven by an agent-based model with around 1,680 partners across 2,940 offices, supporting geographic diversification and more stable, cycle-resilient premium growth.
Higher net investment income continues to support earnings growth. After-tax net investment income increased 18% year over year in the first quarter, benefiting from favorable yields and a conservatively positioned investment portfolio. Selective Insurance expects after-tax net investment income of $465 million in 2026. Strong and reliable returns from its growing fixed-income portfolio, supported by higher returns from its short-term investments, are likely to drive the metric.
Selective Insurance is also investing heavily in artificial intelligence and technology capabilities to enhance underwriting, claims processing and risk management. AI tools have already processed more than 0.5 million claims-related documents, while a significant portion of the company's 2026 strategic technology spending is focused on improving risk selection and pricing accuracy.
Selective Insurance continues to return capital through dividends and repurchases while keeping flexibility for underwriting and investment opportunities. The company continues to prioritize profitable growth and aims to return 20-25% of earnings to shareholders through dividends.
Risks for SIGI
Persistent social inflation in commercial casualty creates some uncertainty around margin improvement. Hence, Selective Insurance is focusing on rate adequacy over growth, which can affect its size.
Property catastrophe exposure remains a key earnings risk. In first-quarter 2026, catastrophe losses added 620 bps to the combined ratio, highlighting earnings volatility. At the same time, rising competition in commercial lines is constraining premium growth and new business momentum.
Conclusion
While Selective Insurance remains well-positioned to gain from strong renewals, favorable E&S lines marketplace conditions and higher income earned on fixed-income securities portfolio, challenges facing the company, such as exposure to catastrophe losses, rising competition and social inflation, can drive earnings volatility.
SIGI should benefit from favorable growth estimates, higher ROE, optimistic analyst sentiment and prudent capital deployment. It is, therefore, wise to retain this Zacks Rank #3 (Hold) stock at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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SIGI Outperforms Industry, Trades Near 52-Week High: Time to Leave?

Shares of The Travelers Companies, Inc. TRV have gained 16.2% in the past year, outperforming its industry’s decline of 1.3% and the Finance sector’s growth of 12.4%.
The insurer has a market capitalization of $64.50 billion. The average volume of shares traded in the last three months was 1.4 million.
Image Source: Zacks Investment Research
TRV Trading Above 50-Day and 200-Day Moving Averages
Shares of Travelers closed at $303.36 on Wednesday and are trading above the 50-day and 200-day simple moving averages (SMA) of $299.56 and $288.54, respectively, indicating solid upward momentum. SMA is a widely used technical analysis tool to predict future price trends by analyzing historical price data.
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TRV Shares are Expensive
Its shares are trading at a premium to the Zacks Property and Casualty Insurance industry. Its price-to-book value of 2.02X is higher than the industry average of 1.38X.
The company has a Value Score of A. This style score helps find the most attractive value stocks.
Shares of other insurers like The Allstate Corporation ALL, W.R. Berkley Corporation WRB and The Progressive Corporation PGR are also trading at a multiple higher than the industry average.
TRV’s Growth Projection Encourages
The Zacks Consensus Estimate for Travelers’ 2026 earnings per share indicates a year-over-year increase of 1.5%. The consensus estimate for revenues is pegged at $48.93 billion, implying a year-over-year improvement of 0.1%.
The consensus estimate for 2027 earnings per share and revenues indicates an increase of 1.2% and 3.1%, respectively, from the corresponding 2026 estimates.
TRV has an impressive Growth Score of B. This style score helps analyze the growth prospects of a company. Travelers beat earnings estimates in each of the past four quarters, with an average surprise of 40.38%.
Optimist Analyst Sentiment on TRV
12 of the 16 analysts covering the stock have raised estimates for 2025, and seven of the 14 analysts have raised the same for 2026 over the past 60 days. Thus, the Zacks Consensus Estimate for 2026 and 2027 earnings has moved up 2.5% and 0.6%, respectively, in the past 60 days.
Average Target Price for TRV Suggests Upside
Based on short-term price targets offered by 22 analysts, the Zacks average price target is $318.95 per share. The average suggests a potential 6.2% upside from the last closing price.
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Travelers’ Favorable Return on Capital
Return on equity (ROE) for the trailing 12 months was 24%, which compared favorably with the industry’s 7.4%. This reflects its efficiency in utilizing shareholders’ funds. Sustained operational excellence helped generate double-digit core ROE in nine out of the last 10 years. Travelers aims to generate mid-teens core ROE over time.
Also, return on invested capital (ROIC) has been increasing over the last few quarters as the company raised its capital investment over the same time frame. This reflects TRV’s efficiency in utilizing funds to generate income. ROIC in the trailing 12 months was 14.6%, better than the industry average of 5.7%.
Factors Favoring Travelers
Travelers is benefiting from strong underwriting discipline and healthy performance in its Business Insurance segment, which remains a key long-term growth driver. Renewal premium change remained solid, while record new business and double-digit pricing in key commercial lines reflect strong execution and market share gains. Strong underwriting profitability, disciplined risk management and improving Personal Insurance margins continue to support earnings growth and margin stability for TRV.
Travelers’ investment results continue to be primarily driven by strong, reliable returns from its growing fixed-income portfolio and higher returns from its non-fixed-income portfolio. Management reaffirmed its fixed income net investment income outlook by quarter for 2026, expecting roughly $810 million after tax in the second quarter, growing to about $840 million in the third quarter, and around $870 million in the fourth quarter. Travelers has 94% of its investments in fixed maturities and short-term investments, with equity securities, real estate investments and other investments accounting for the remaining 6%.
Travelers continues to invest heavily in technology to improve underwriting, claims and distribution partner experience. Management indicated that it invests more than $1.5 billion annually in technology, including an AI strategy, while pursuing ongoing upgrades to pricing models and field tools. New product enhancements and digital platforms such as TRAVIS and TCAP are helping drive market share gains and stronger distribution relationships.
Risks for TRV
Exposure to catastrophe events, primarily from severe wind and hail storms and winter storms across multiple states, remains a recurring source of underwriting variability for property and casualty insurers. Management continues to describe weather-related severity as an ongoing feature of the loss environment, which can drive quarter-over-quarter earnings swings and complicate near-term margin expectations.
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Rising reinsurance costs can reduce earnings and constrain underwriting flexibility, particularly after periods of elevated global catastrophe activity.
Higher repair costs and other inflation-linked inputs can lift claims severity in both auto and homeowners lines and challenge pricing and retention.
Conclusion
Strong underwriting, healthy premium growth, rising investment income and sustained pricing strength bode well for future earnings growth. However, catastrophe losses, rising reinsurance costs and inflation-driven claims severity remain the key concerns.
TRV has a track record of 22 consecutive years of dividend increases, with a compound annual growth rate of 8% over that period. Its current dividend yield of nearly 2% is much better than the industry average of 0.3%, making it an attractive pick for yield-seeking investors.
TRV also has a VGM Score of A. Stocks with a favorable VGM Score are those with the most attractive value, best growth and most promising momentum compared with peers.
Higher return on capital, favorable growth estimates and impressive dividend history should continue to benefit Travelers over the long term. Given the premium valuation, it is wise to adopt a wait-and-see approach on this Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
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TRV Stock Outperforms Industry, Trades at Premium: Should You Hold?

W. R. Berkley Corporation's WRB capital deployment strategy is centered on maximizing long-term risk-adjusted returns. The company generates substantial excess capital through underwriting profits, investment income and operating cash flow and consistently distributes excess capital and delivers long-term value through a mix of methods.
WRB has built a strong reputation for returning excess capital to shareholders through a combination of regular dividends, special dividends, share repurchases and stock splits. Berkley has increased its regular dividend over time while supplementing it with special dividends when earnings and capital generation are particularly strong. The company has maintained dividend payments for more than five decades, reflecting the stability of its specialty insurance franchise.
Share repurchases are a key component of W. R. Berkley's capital allocation strategy. Management uses buybacks opportunistically to return excess capital to shareholders, improve per-share metrics and maintain an efficient capital structure while continuing to invest in underwriting opportunities. The repurchases have complemented the company's dividend and special dividend programs, resulting in substantial overall capital returns to shareholders.
In June 2026, the insurer restored its share repurchase authorization to 25 million shares, alongside announcing a 50-cent special dividend and an 11.1% increase in its regular quarterly dividend to 10 cents per share. This follows already active buybacks, with more than 4.47 million shares repurchased through March 31, 2026. By early June, total capital returned to shareholders for the year had reached approximately $558.8 million, combining repurchases, paid dividends and newly announced distributions.
One of the defining characteristics of W. R. Berkley is its ability to consistently deliver a high return on equity (ROE), often outperforming many peers in the property and casualty insurance industry. WRB continued to deliver outstanding results in the first quarter of 2026 with an annualized 21.2% return on beginning-of-year stockholders’ equity, reflecting ongoing growth in underwriting and investment income. It marks a continued trajectory of outperformance. The company has consistently maintained a five-year average ROE of approximately 20%, resulting in a five-year total shareholder return of roughly 19%.
WRB frequently returns excess capital through buybacks and special dividends when attractive underwriting opportunities are insufficient to absorb all available capital. This disciplined approach has helped the company support strong per-share value creation, double-digit ROE and long-term shareholder returns.
What About Its Peers?
RLI Corp. RLI has one of the most shareholder-friendly capital return programs in the property & casualty insurance industry. The company combines a steadily growing regular dividend, frequent special dividends and opportunistic share repurchases to return excess capital to shareholders while maintaining underwriting discipline. The company has increased its regular dividend for 51 consecutive years, placing it among the longest dividend-growth records in the insurance sector.
First American Financial Corporation FAF follows a balanced capital-return strategy that combines a steadily growing dividend with opportunistic share repurchases. FAF generally uses a combination of regular dividend increases and selective share repurchases to distribute excess capital. FAF has increased its dividend for more than 15 consecutive years, reflecting management's commitment to returning capital through various housing market environments.
WRB’s Price Performance
Shares of WRB have lost 7% in the past year compared with the industry.
Image Source: Zacks Investment Research
WRB’s Expensive Valuation
The stock is overvalued compared with its industry. It is currently trading at a price-to-book value multiple of 2.55, higher than the industry average of 1.39.
Image Source: Zacks Investment Research
Estimate Movement for WRB
The Zacks Consensus Estimate for WRB’s third-quarter 2026 EPS has moved down 2.6% in the past 30 days. The same for full-year 2026 and 2027 EPS has moved up 0.6% and 0.2%, respectively, in the past 30 days.
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The consensus estimate for WRB’s 2026 and 2027 EPS and revenues indicates a year-over-year increase.
WRB stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.
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RLI Corp. (RLI) : Free Stock Analysis Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

W. R. Berkley Delivers Long-Term Value Through Capital Returns

Cincinnati Financial Corporation’s CINF shares have risen 6.3% in a year, outperforming the industry’s decline of 5.7%, while underperforming the Finance sector and the Zacks S&P 500 index’s growth of 10.6% and 29.3%, respectively.
Strong premium growth, improved pricing and higher net investment income, alongside a sharp reduction in losses and related expenses, increase the confidence of investors. The expected long-term earnings growth is pegged at 5.3%.
Image Source: Zacks Investment Research
Cincinnati Financial has outperformed its peers, including Arch Capital Group Ltd. ACGL, W.R. Berkley Corporation WRB and Palomar Holdings, Inc. PLMR, in a year. Shares of ACGL, WRB and PLMR have lost 7.5%, 10.7% and 37.8%, respectively.
CINF’s Premium Valuation
Cincinnati Financial’s shares are trading at a premium to the industry. Its price-to-book value of 1.58X is higher than the industry average of 1.34X.
Image Source: Zacks Investment Research
CINF’s Growth Projection Encourages
The Zacks Consensus Estimate for Cincinnati Financial’s 2026 earnings per share (EPS) is pinned at $8.61, indicating a year-over-year increase of 8.3%. The estimate for 2026 revenues is pegged at $12.05 billion, implying a year-over-year improvement of 7.7%.
The consensus estimate for 2027 EPS and revenues indicates an increase of 4.9% and 6.6%, respectively, from the corresponding 2026 estimates. It has a Growth Score of B.
CINF's Average Target Price Suggests Upside
Based on short-term price targets offered by six analysts, the Zacks average price target is $181.50 per share. The average suggests a potential 14.8% upside from the last closing price.
Image Source: Zacks Investment Research
CINF’s Higher Return on Capital
Return on equity in the trailing-12 months was 10%, better than the industry average of 6%. This highlights the company’s efficiency in utilizing shareholders’ funds.
Factors Acting in Favor of CINF
Cincinnati Financial’s Commercial Lines Insurance segment has been consistently witnessing growth over the past several quarters, led by price increases and several growth initiatives. The company leverages its agency-centric model to expand commercial lines through deeper agency relationships, broader product offerings and disciplined underwriting, which is expected to support commercial lines’ profitability.
CINF expects property casualty underwriting results to continue benefiting from price increases and its ongoing initiatives, including the expansion of Cincinnati Re and Cincinnati Global, aimed at improving pricing precision. Management continues to highlight product expansion and selective risk-taking in these operations as part of its long-term strategy to improve income stability.
The Excess and Surplus line has been performing well since its inception in 2008. This segment should continue to benefit from new business-written premiums, higher renewal-written premiums and higher average renewal estimated pricing. Management also points to ongoing product additions in E&S and the ability to place portions of an account there to deepen broader relationships, which can help sustain growth without compromising risk selection, gain market share and diversify earnings.
Cincinnati Financial’s expansion strategy is driven by its exclusive partnerships with local, independent insurance agencies. This relationship-based model fosters strong customer loyalty, high retention rates and consistent business growth. As the insurer expands its agency network into underserved markets, it remains well-positioned to drive sustainable premium growth, deepen market penetration and create long-term shareholder value.
Cincinnati Financial has returned capital to its shareholders through share buybacks, dividend hikes and special dividends. It has an excellent track record of raising dividends for 65 straight years. Cincinnati Financial’s free cash flow conversion has remained more than 150% over the last few quarters, reflecting its solid earnings.
Risks for CINF Stock
Cincinnati Financial’s results remain sensitive to catastrophe activity, particularly in property lines, and severity can vary sharply by period. If elevated catastrophe exposure or loss severity keeps underwriting appetite tight, it could slow long-term diversification benefits from personal lines and reduce operating leverage when rate increases ease.
Management continues to emphasize risk selection and segmentation, but rising loss costs, social inflation, larger jury awards and increasing claim severity could pressure profitability despite conservative reserves.
End Notes
Strong performance at the Commercial Lines segment, rate increases, agent-focused business models, consistent cash flow and prudent capital deployment support growth. However, exposure to catastrophe losses and loss-cost trends, including social inflation, can narrow underwriting margins.
Its dividend yield of 2.3% is better than the industry average of 0.3%, making the stock an attractive pick for yield-seeking investors.
Higher return on capital, favorable growth estimates and impressive dividend history should continue to benefit Cincinnati Financial over the long term. A VGM Score of A instils confidence. Given the premium valuation, it is wise to adopt a wait-and-see approach on this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>
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Cincinnati Financial Outperforms Industry in a Year: Time to Hold?

General Dynamics announced today that its board of directors has declared a regular quarterly dividend of $1.59 per share on the company's common stock, payable August 7, 2026, to shareholders of record on July 2, 2026.
Sun Communities, a real estate investment trust that owns and operates, or has an interest in, manufactured housing and recreational vehicle communities today announced its Board of Directors declared a quarterly distribution of $1.12 per share of common stock for the second quarter of 2026. The distribution is payable on July 15, 2026 to shareholders of record on June 30, 2026.
W. R. Berkley announced today that its Board of Directors has declared a special cash dividend on its common stock of 50 cents per share to be paid on July 2, 2026 to stockholders of record at the close of business on June 23, 2026. In addition, its Board of Directors has voted to increase its regular quarterly cash dividend to 10 cents per share, representing an 11.1% increase from the present rate. This dividend will be paid on July 2, 2026 to stockholders of record at the close of business on June 23, 2026.
The board of directors of Johnson Controls International, a global leader in thermal management, mission-critical building systems, energy efficiency and decarbonization, has approved a regular quarterly dividend of $0.40 per share of common stock, payable on July 10, 2026, to shareholders of record at the close of business on June 15, 2026. Johnson Controls has paid a consecutive dividend since 1887.
Nordson today announced that its Board of Directors declared a fiscal year 2026 third quarter cash dividend in the amount of $0.82 per common share, payable on July 6, 2026, to shareholders of record as of the close of business on June 18, 2026. This amount equals the $0.82 per common share dividend paid in the second quarter of fiscal year 2026.
VIDEO: Daily Dividend Report: GD,SUI,WRB,JCI,NDSN
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Daily Dividend Report: GD,SUI,WRB,JCI,NDSN

Chubb Limited CB has been trading above its 200-day simple moving average (SMA), signaling a short-term bullish trend. Its share price, as of May 29, 2026, was $311.73, down 9.8% from its 52-week high of $345.67.
The 200-day SMA is a key indicator for traders and analysts to identify support and resistance levels. It is considered particularly important as this is the first marker of an uptrend or downtrend.
With a market capitalization of $120.90 billion, the average volume of shares traded in the last three months was 1.7 million.
CB is an Outperformer
Shares of Chubb have gained 4% in the past year, outperforming the industry’s decline of 7.6%.
Image Source: Zacks Investment Research
CB’s Expensive Valuation
Shares of Chubb Limited are trading at a premium compared with the Zacks Property and Casualty Insurance industry. Its forward price-to-book value of 1.51X is higher than the industry average of 1.34X.
Shares of The Travelers Companies, Inc. TRV, W.R. Berkley Corporation WRB and Kinsale Capital Group, Inc. KNSL are trading at a multiple higher than the industry average.
CB’s Growth Projection Encourages
The Zacks Consensus Estimate for Chubb Limited’s 2026 earnings per share indicates a year-over-year increase of 8.1%. The consensus estimate for revenues is pegged at $64.40 billion, implying a year-over-year improvement of 7.4%.
The consensus estimate for 2027 earnings per share and revenues indicates an increase of 7.6% and 4.9%, respectively, from the corresponding 2025 estimates.
Optimist Analyst Sentiment on CB
One of the 11 analysts covering the stock has raised estimates for 2026 and 2027 over the past 30 days. Thus, the Zacks Consensus Estimate for 2026 earnings has moved up 0.4% in the past 30 days, and for 2027, the same has moved north 0.6% in the same time frame.
Target Price Reflects Potential Upside
Based on short-term price targets offered by 24 analysts, the Zacks average price target is $349.42 per share. The average indicates a potential 10.5% upside from the last closing price.
Image Source: Zacks Investment Research
Impressive Earnings Surprise History of CB
Chubb Limited’s bottom line surpassed earnings estimates in each of the last four quarters, the average being 12.38%.
CB’s Favorable Return on Capital
Return on equity in the trailing 12 months was 14.3%, better than the industry average of 7.4%. Return on equity, a profitability measure, reflects how effectively a company is utilizing its shareholders’ equity.
Also, return on invested capital (ROIC) has been increasing over the last few quarters amid capital investments made over the same time frame. This reflects CB’s efficiency in utilizing funds to generate income. ROIC in the trailing 12 months was 9.5%, better than the industry average of 5.9%.
Factors Benefiting CB Stock
Chubb Limited remains focused on capitalizing on the potential of middle-market businesses (both domestic and international) as well as enhancing traditional core packages and specialty products for long-term growth. In its efforts to accelerate growth, Chubb Limited is also making strategic investments in various initiatives.
CB pursues strategic mergers and acquisitions to diversify its portfolio, add capabilities and synergies, and expand its geographic footprint. Recently, Chubb Limited agreed to acquire the insurance businesses of Liberty Mutual in Thailand and Vietnam. Acquisitions have also improved premium revenues. Premiums should also benefit from commercial P&C rate increases, new business and strong renewal retention. An impressive inorganic growth story helps to achieve a higher long-term return on equity.
Investment income should benefit from improved operating cash flow. Chubb Limited expects the Investment income run rate to continue to grow, as the company reinvests the cash flow at higher rates. Chubb Limited expects adjusted net investment income to be between $1.825 billion and $1.85 billion in the second quarter of 2026.
Chubb Limited has a strong capital position and sufficient cash-generation capabilities, which support wealth distribution to shareholders and growth initiatives.
Being a P&C insurer, CB is exposed to catastrophe events, which induce volatility in underwriting profitability and affect the combined ratio. Given the uncertainty surrounding the magnitude of cat loss, higher losses could drain earnings.
Also, Chubb Limited’s leverage and times interest earned compare unfavorably with the industry.
Conclusion
Chubb Limited’s market-leading position, compelling portfolio, strong renewal retention, positive rate increases, solid capital position and better return on capital pave the way for long-term growth.
The strong capital and liquidity position enable Chubb Limited to distribute wealth to its shareholders via share buybacks and dividend payouts. The company’s current dividend yield of 1.2% is better than the industry average of 0.2%. The recent 5.2% increase in dividends marks the 33rd straight year of dividend increase. Dividend has witnessed an eight-year (2018-2026) CAGR of 4.6%. This makes the stock an attractive pick for investors seeking a safe, steady cash flow.
However, given its premium valuation, we prefer to stay cautious on this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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CB Stock Trades Above 200-Day SMA: What Should Investors Do?

The Zacks Property and Casualty (P&C) Insurance industry has been benefiting from Solid retention, exposure growth across business lines and improved pricing, driving higher premiums and helping insurers maintain profitability. The industry remains focused on personalized offerings to enhance customer experience, leveraging digitalization. However, catastrophic activities, both natural and man-made, might have weighed on underwriting profit.
The industry has lost 6.9% over the past year against the Zacks S&P 500 composite's growth of 32.2% and the Finance sector’s return of 12.1%.
Image Source: Zacks Investment Research
Here we focus on two property and casualty insurers, namely Cincinnati Financial Corporation CINF and W.R. Berkley Corporation WRB.
Cincinnati Financial, with a market capitalization of $24.75 billion, provides property casualty insurance products in the United States. W.R. Berkley, with a market capitalization of $23.93 billion, is an insurance holding company that provides property and casualty reinsurance products and operates as a commercial line writer worldwide. CINF and WRB carry a Zacks Rank #3 (Hold) each at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Driving Forces
Global commercial insurance rates declined, on average, by 5% in the first quarter of 2026, following a 4% decline in the fourth quarter of 2025. This marked the seventh consecutive quarter of rate decreases, per the Marsh Global Insurance Market Index. The downward rate movement continues to be driven by abundant capacity and intense insurer competition across most major product lines, per the Marsh Global Insurance Market Index.
Price hikes, operational strength, higher retention, strong renewal and the appointment of retail agents should help write higher premiums. Per Deloitte Insights, gross premiums are estimated to exceed $722 billion by 2030.
Aon has estimated that global insured catastrophe losses amounted to at least $20 billion in the first quarter of 2026, 6% above the 21st-century average. Aon’s report also noted that natural catastrophes in the United States accounted for more than 75% of global insured losses in the first quarter of 2026, reaching around $16 billion.
Per Gallagher Re, global natural catastrophe events in the first quarter of 2026 resulted in an estimated $58 billion in direct economic losses. Per Gallagher Re, in the first quarter of 2026, global and regional natural catastrophe activity and loss totals were comparatively lower than the first three months of previous years.
Underwriting profit is likely to have benefited from better pricing, reinsurance arrangements, portfolio repositioning, reinsurance covers and favorable reserve development.
The Fed left the federal funds rate steady at the 3.5-3.75% target range for a second consecutive meeting in March 2026, in line with expectations. The Fed still projects a single rate cut in 2026, but also expects inflation and economic growth to rise from its previous projections.
A larger investment asset base, strong cash flow from operating activities, higher bond yields and an increase in interest income from fixed-maturity securities are expected to have aided net investment income.
The insurance industry’s increased use of technology like blockchain, artificial intelligence, advanced analytics, telematics, cloud computing and robotic process automation expedites business operations. Insurers continue to invest heavily in technology to improve basis points, scale and efficiencies. These investments are likely to have curbed costs and aided the margins of insurers in the first quarter.
A solid capital position is likely to have aided insurers in strategic mergers and acquisitions to sharpen their competitive edge, expand geographically and diversify their portfolio. Sustained wealth distribution to shareholders via dividend hikes, special dividends and share repurchases instill confidence in the insurers.
Let’s delve deeper into specific parameters to ascertain which P&C insurer is better positioned at the moment.
Price Performance
Shares of Cincinnati Financial have climbed 6.6% in the past year against W.R. Berkley’s decline of 13.1%.
Image Source: Zacks Investment Research
Return on Equity
W.R. Berkley, with a ROE of 18.9%, exceeds Cincinnati Financial’s ROE of 10.5% and the industry average of 7.4%.
Image Source: Zacks Investment Research
Valuation
The price-to-book value is the best multiple used for valuing insurers. Compared with WRB’s P/B ratio of 2.46, CINF is cheaper, with a reading of 1.58. The P&C insurance industry’s P/B ratio is 1.35.
Image Source: Zacks Investment Research
Growth Projection
The Zacks Consensus Estimate for 2026 earnings indicates 8.3% growth from the year-ago reported figure for CINF, while the same for WRB implies an increase of 7.8%.
Dividend Yield
Cincinnati Financial’s dividend yield of 2.3% is better than W.R. Berkley’s dividend yield of 0.5%. Thus, Cincinnati Financial has an advantage over W.R. Berkley on this front.
Revenue Estimates
The Zacks Consensus Estimate for CINF and WRB's 2026 revenues implies a year-over-year increase of 7.9% and 2.8%, respectively.
Therefore, CINF is at an advantage on this front.
Earnings Surprise History
Cincinnati Financial has a solid record of beating earnings estimates in each of the last four quarters, with an average being 27.54%. W.R. Berkley beat earnings estimates in three of the last four quarters and missed in one, with an average being 4.73%.
Hence, CINF has an edge in this regard over WRB.
To Conclude
Our comparative analysis shows that Cincinnati Financial is better positioned than W.R. Berkley with respect to price, valuation, growth projection, dividend yield, earnings surprise history and revenue estimates. Meanwhile, WRB scores higher in terms of return on equity. With the scale majorly tilted toward CINF, the stock appears to be better poised.
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CINF vs. WRB: Which P&C Insurance Stock Should You Hold Now?

American Financial Group, Inc. AFG has been trading above its 200-day simple moving average (SMA), signaling a short-term bullish trend. Its share price, as of May 21, 2026, was $137.24, down 13% from its 52-week high of $150.02.
Image Source: Zacks Investment Research
The 200-day SMA is a long-term technical indicator that averages a stock's closing price over the last 200 trading days to smooth out volatility and identify the broader trend direction. When the stock price crosses above the 200-day SMA, it can signal a buy or hold opportunity.
With a market capitalization of $10.87 billion, the average volume of shares traded in the last three months was 0.6 million. The insurer is trading at a price-to-book multiple of 2.44X, higher than the industry average of 1.38X.
AFG’s Price Performance
Shares of AFG have gained 12.1% year to date against the industry’s decline of 4.6%.
Image Source: Zacks Investment Research
AFG has outperformed some of the other insurers, W.R.such as Berkley Corporation. WRB, RLI Corp. RLI ) and Kinsale Capital Group, Inc. KNSL. WRB, RLI and KNSL have lost 6.5%, 26.4% and 31.1%, respectively, in the same time frame.
AFG’s Encouraging Growth Projections
The Zacks Consensus Estimate for American Financial’s 2026 earnings per share(EPS) indicates a year-over-year increase of 9%. The consensus estimate for revenues is pegged at $8.02 billion, implying a year-over-year improvement of 0.4%.
The consensus estimate for 2027 EPS and revenues indicates an increase of 5.5% and 7.9%, respectively, from the corresponding 2026 estimates.
Average Target Price for AFG Suggests Upside
Based on short-term price targets offered by six analysts, the Zacks average price target is $142 per share. The average suggests a potential 3.4% upside from the last closing price.
Image Source: Zacks Investment Research
AFG’s Favorable Return on Capital
Return on equity in the trailing 12 months was 19.5%, which compared favorably with the industry average of 7.4%, reflecting AFG’s efficiency in utilizing shareholders’ funds.
Factors Favoring AFG
New business opportunities, increased exposure and a good renewal rate environment, coupled with additional crop premiums from the Crop Risk Services acquisition, position AFG well for growth.
American Financial, a niche player in the P&C market, is likely to benefit from strategic acquisitions and improved pricing. Specialty gross written premiums increased 6% and net written premiums rose 3% year over year, reflecting new business opportunities, a favorable renewal environment and higher exposures in several lines.
American Financial witnessed average renewal pricing across the P&C group rising approximately 3% in the first quarter of 2026. It intends to maintain satisfactory rates in P&C renewal pricing going forward. AFG has reported overall renewal rate increases for 35 consecutive quarters. The property and casualty insurer expects to achieve overall renewal rate increases in excess of prospective loss ratio trends to meet or exceed targeted returns.
Its combined ratio has been better than the industry average for more than two decades. Specialty niche focus, product line diversification and underwriting discipline should help AFG outperform the industry’s underwriting results.
AFG has a long history of returning capital through regular and special dividends and share repurchases, and it has increased its dividend in each of the past 20 years. The company returned approximately $259 million to shareholders during the quarter. Management expects operations to generate excess capital through the remainder of 2026, which can support growth initiatives and shareholder returns.
Risks for AFG
Catastrophe losses, rising inflation, higher claims costs, and reserve pressures in longer-tail lines could hurt underwriting profitability if expenses grow faster than premiums.
Insurance and investment activities are heavily regulated at the state and federal levels. New rules can increase compliance costs and restrict product or capital actions.
End Notes
American Financial’s prudent capital deployment, increased exposures, good average renewal rate and improved combined ratio make it an attractive stock. However, catastrophe losses, rising expenses, inflation and strict regulations pose near-term headwinds.
American Financial has increased its dividend for 20 straight years. Notably, the 10-year compound annual growth rate for the company's regular annual dividends is an impressive 12.4%. The dividend yield is 2.7%, better than the industry average of 0.2%.
American Financial should benefit from strategic acquisitions, new business opportunities, stronger underwriting profit and favorable growth estimates. It is, therefore, wise to retain this Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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American Financial Trades Above 200-Day SMA: What Should Investors Do?

It has been about a month since the last earnings report for W.R. Berkley (WRB). Shares have added about 1.1% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is W.R. Berkley due for a pullback? Well, first let's take a quick look at the latest earnings report in order to get a better handle on the recent catalysts for W.R. Berkley Corporation before we dive into how investors and analysts have reacted as of late.
W.R. Berkley's Q1 Earnings Surpass Estimates, Revenues Miss
W.R. Berkley Corporation reported first-quarter 2026 operating income of $1.30 per share, which beat the Zacks Consensus Estimate by 15%. The bottom line increased 28.7% year over year.
The insurer benefited from higher premiums, strong investment income growth and lower catastrophe losses.
Behind the Headlines
W.R. Berkley’s net premiums written were about $3.2 billion, up 1.3% year over year. The figure missed our estimate as well as the Zacks Consensus Estimate of $3.18 billion.
Operating revenues totaled $ 3.7 billion, up 5% year over year, driven by higher net premiums earned, improved net investment income, higher revenues from non-insurance businesses and increased other income. However, the top line missed the consensus estimate by 0.28%.
Net investment income grew 12.2% to $404.3 million, supported by higher invested assets, better yields and strong fund income. The figure topped our estimate of $387 million. The consensus estimate was $401 million.
Total expenses increased 2.2% to $3 billion, caused by higher losses and loss expenses, other operating costs and expenses, and expenses from non-insurance businesses. The figure was lower than our estimate of $3.7 billion.
The loss ratio improved 100 basis points (bps) to 62.2, while the expense ratio deteriorated 80 bps year over year to 28.6.
Catastrophe losses of $75.7 million were lower than the $111.1 million incurred in the year-ago quarter.
The consolidated combined ratio (a measure of underwriting profitability) improved 20 basis points year over year to 90.7, missing the Zacks Consensus Estimate of 91.8.
Q1 Segment Details
Net premiums written at the Insurance segment increased 3.2% year over year to $2.78 billion in the quarter, primarily driven by higher premiums from other liability, short-tail lines, auto and professional liability. The figure was slightly higher than our estimate.
The combined ratio deteriorated 50 basis points year over year to 92.2. Our estimate was 92.8.
Net premiums written in the Reinsurance & Monoline Excess segment increased 10.4% year over year to $394.6 million. The figure beat our estimate of $393.8 million.
The combined ratio improved 680 bps to 78.6, which matched the Zacks Consensus Estimate. Our estimate for the metric was 86.
Financial Update
W.R. Berkley exited the first quarter of 2026 with total assets worth $44.3 billion compared with $43.9 billion at the 2025-end level.
Senior notes and other debt increased 1.1% from the 2025-end levels to $1.8 billion.
Book value per share increased 1.6% from 2025-end levels to $26.13.
Cash flow from operations was $667.9 million, down 10.2% year over year.
Operating return on equity in the first quarter increased 120 basis points year over year to 21.2%.
Capital Deployment
Total capital returned to shareholders was $336.1 million, comprising $302.4 million in share repurchases and $33.7 million in regular dividends.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended downward during the past month.
VGM Scores
At this time, W.R. Berkley has a average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. However, the stock was allocated a score of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, W.R. Berkley has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Why Is W.R. Berkley (WRB) Up 1.1% Since Last Earnings Report?

Shares of Arch Capital Group Ltd.ACGL are trading at a premium to the Zacks Property and Casualty Insurance industry. Its price-to-book value of 1.43X is higher than the industry average of 1.33X, but lower than the Finance sector’s 4.39X and the Zacks S&P 500 composite’s 8.16X.
The insurer has a solid track record of beating earnings estimates in each of the trailing four quarters, with an average of 14.97%. Earnings have grown 30% over the past five years.
Image Source: Zacks Investment Research
The insurer has a Value Score of A. Shares of other insurers like The Allstate Corporation (ALL), W.R. Berkley Corporation WRB and The Progressive Corporation PGR are also trading at a multiple higher than the industry average.
ACGL’s Price Performance
Arch Capital shares have lost 0.1% year to date compared with the industry’s, the Finance sector’s and the Zacks S&P 500 composite’s decline of 5.4%, 11.1% and 31.7%, respectively.
Image Source: Zacks Investment Research
Shares of W.R. Berkley and Progressive have underperformed the industry, while Allstate has outperformed the industry.
Zacks Estimates for ACGL
The Zacks Consensus Estimate for 2026 revenues is pegged at $18.2 billion, suggesting a 3.1% year-over-year decline.
The consensus estimate for earnings per share is currently pegged at $9.29 for 2026, indicating a 5.6% year-over-year decline.
The Zacks Consensus Estimate for Arch Capital’s 2027 earnings per share and revenues indicates a year-over-year increase of 7.6% and 4.4%, respectively, from the corresponding 2026 estimates.
ACGL’s Favorable Return on Capital
Arch Capital’s trailing 12-month return on equity is 17.6%, ahead of the industry average of 7.3%. Return on equity, a profitability measure, reflects how effectively a company is utilizing its shareholders’ equity.
Return on invested capital in the trailing 12 months was 13.7%, better than the industry average of 5.6%, reflecting ACGL’s efficiency in utilizing funds to generate income.
Key Points to Note for ACGL Stock
Arch Capital’s well-rounded product portfolio and consistent premium growth highlight the strength of its organic drivers. Rate increases, new business inflows and expansion within existing accounts continue to fuel its momentum. Additionally, its ability to scale organically across specialty insurance and reinsurance underscores sustained growth potential. Arch Capital's strong underwriting expertise, global distribution network, and focus on specialty lines allow it to capitalize on these trends.
Building on this momentum, Arch Capital has delivered steady premium acceleration, with net premiums written registering a seven-year (2018-2025) CAGR of 17.4%. The combination of firm market rates, inflation-led demand and disciplined underwriting has strengthened growth across P&C lines.
Arch Capital’s investment income has been increasing, primarily driven by strong and reliable returns from its growing fixed income portfolio and higher returns from its non-fixed income portfolio. Higher investment yields along with the growth in investable assets, should further improve investment income. The company believes that its growing investment portfolio will continue to provide meaningful tailwinds to its bottom line.
Arch Capital has maintained a solid liquidity position to meet any short-term obligations as well as aiding in capital deployment, including the distribution of wealth to shareholders and the flexibility required to pursue new opportunities in keeping with its long-term strategy.
Arch Capital is also benefiting from favorable dynamics in the P&C market, where a hardening environment is supporting higher premiums and stronger demand for coverage. While industry-wide pressures, such as catastrophe losses and inflation, have intensified claims costs, they have also driven rate momentum. With its underwriting discipline, global distribution network and focus on specialty lines, Arch Capital is well-placed to capitalize on these conditions.
Conclusion
Overall, Arch Capital continues to benefit from strong organic growth drivers, steady premium momentum, investment income, robust capital deployment and liquidity position. However, exposure to catastrophe losses and inflation has intensified claims costs, while stiff competition is the headwind.
Its solid growth projections, effective capital deployment and favorable return on capital should continue to benefit Arch Capital over the long term. Given the premium valuation, it is wise to adopt a wait-and-see approach on this Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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W.R. Berkley Corporation

Market sentiment

Bullish sentiment

Share of longs and shorts

Confidence Index

Bulls

Support Index

Bulls

Cash flows Index

Bulls

Momentum

Buy

Buy

Metrics since the start of the current trend:

Protective stop levels