Seeyond increased its holdings in W. R. Berkley Corp (NYSE:WRB) by 31.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,900 shares of the insurance provider’s stock after purchasing an additional 5,252 shares during the quarter. Seeyond’s holdings in W. R. Berkley were worth $1,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Krane Funds Advisors LLC purchased a new position in W. R. Berkley during the second quarter valued at $26,000. Steward Partners Investment Advisory LLC purchased a new position in W. R. Berkley during the 2nd quarter valued at about $27,000. Hanson McClain Inc. boosted its holdings in W. R. Berkley by 50.0% during the 2nd quarter. Hanson McClain Inc. now owns 525 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 175 shares during the period. Johnson Financial Group Inc. grew its position in W. R. Berkley by 49.9% in the 2nd quarter. Johnson Financial Group Inc. now owns 553 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 184 shares in the last quarter. Finally, Asset Dedication LLC grew its position in W. R. Berkley by 49.9% in the 2nd quarter. Asset Dedication LLC now owns 571 shares of the insurance provider’s stock valued at $38,000 after acquiring an additional 190 shares in the last quarter. 70.69% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on WRB. Zacks Investment Research raised shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Saturday, July 27th. Morgan Stanley lifted their price objective on shares of W. R. Berkley from $63.00 to $73.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Deutsche Bank downgraded shares of W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 target price on the stock. in a research note on Wednesday, June 26th. Finally, Royal Bank of Canada increased their target price on shares of W. R. Berkley to $68.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $65.40.
WRB traded up $0.07 on Wednesday, hitting $70.89. 14,362 shares of the company were exchanged, compared to its average volume of 578,355. The firm has a 50-day moving average price of $70.99 and a two-hundred day moving average price of $69.05. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.46. W. R. Berkley Corp has a twelve month low of $45.91 and a twelve month high of $73.26. The company has a market cap of $13.08 billion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 2.77 and a beta of 0.69.
W. R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Tuesday, July 23rd. The insurance provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.18. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. W. R. Berkley had a return on equity of 10.55% and a net margin of 8.81%. W. R. Berkley’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 EPS. Equities analysts expect that W. R. Berkley Corp will post 2.86 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 19th will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, September 18th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.62%. W. R. Berkley’s payout ratio is 16.48%.
In related news, Director Mark Ellwood Brockbank sold 77,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $66.61, for a total value of $5,128,970.00. Following the sale, the director now owns 51,329 shares of the company’s stock, valued at $3,419,024.69. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 21.70% of the stock is owned by company insiders.
W. R. Berkley Company Profile
W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.
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