Handelsbanken Fonder AB Decreases Stake in W.R. Berkley Corporation $WRB

Handelsbanken Fonder AB lessened its holdings in shares of W.R. Berkley Corporation (NYSE:WRB) by 29.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,677 shares of the insurance provider’s stock after selling 28,573 shares during the quarter. Handelsbanken Fonder AB’s holdings in W.R. Berkley were worth $4,972,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hilltop National Bank acquired a new stake in shares of W.R. Berkley in the second quarter valued at approximately $27,000. N.E.W. Advisory Services LLC purchased a new position in shares of W.R. Berkley during the 1st quarter worth $36,000. Keystone Global Partners LLC acquired a new position in shares of W.R. Berkley during the 1st quarter valued at about $41,000. Whipplewood Advisors LLC grew its holdings in shares of W.R. Berkley by 148.4% in the second quarter. Whipplewood Advisors LLC now owns 616 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 368 shares during the period. Finally, REAP Financial Group LLC increased its position in W.R. Berkley by 148.2% during the second quarter. REAP Financial Group LLC now owns 633 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 378 shares during the last quarter. 68.82% of the stock is owned by hedge funds and other institutional investors.

W.R. Berkley Stock Down 0.7%

W.R. Berkley stock opened at $77.56 on Tuesday. The company has a market capitalization of $29.47 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 2.73 and a beta of 0.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.37. W.R. Berkley Corporation has a fifty-two week low of $55.97 and a fifty-two week high of $78.96. The firm has a 50 day moving average price of $75.30 and a 200 day moving average price of $72.92.

W.R. Berkley (NYSE:WRB) last released its quarterly earnings results on Monday, October 20th. The insurance provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. W.R. Berkley had a return on equity of 19.35% and a net margin of 13.01%.The business had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the business posted $0.93 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Research analysts expect that W.R. Berkley Corporation will post 4.33 earnings per share for the current year.

W.R. Berkley Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.09 per share. The ex-dividend date was Monday, September 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. W.R. Berkley’s dividend payout ratio is 7.56%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WRB shares. Jefferies Financial Group decreased their target price on shares of W.R. Berkley from $76.00 to $75.00 and set a “hold” rating on the stock in a report on Tuesday, October 21st. Barclays reaffirmed an “underweight” rating and set a $73.00 price target on shares of W.R. Berkley in a research report on Wednesday, October 8th. Morgan Stanley set a $80.00 price objective on W.R. Berkley in a report on Monday, November 17th. UBS Group reissued a “neutral” rating and set a $87.00 target price on shares of W.R. Berkley in a research note on Friday, November 7th. Finally, Wells Fargo & Company set a $66.00 target price on W.R. Berkley and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $74.85.

W.R. Berkley Profile

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.