APG Asset Management N.V. grew its stake in shares of W. R. Berkley Corp (NYSE:WRB) by 112.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 1,754,640 shares of the insurance provider’s stock after acquiring an additional 927,934 shares during the period. APG Asset Management N.V.’s holdings in W. R. Berkley were worth $101,584,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of WRB. Krane Funds Advisors LLC purchased a new stake in shares of W. R. Berkley during the 2nd quarter worth $26,000. Steward Partners Investment Advisory LLC acquired a new position in shares of W. R. Berkley during the 2nd quarter worth $27,000. Hanson McClain Inc. raised its stake in shares of W. R. Berkley by 50.0% during the 2nd quarter. Hanson McClain Inc. now owns 525 shares of the insurance provider’s stock worth $35,000 after buying an additional 175 shares during the last quarter. Johnson Financial Group Inc. raised its stake in shares of W. R. Berkley by 49.9% during the 2nd quarter. Johnson Financial Group Inc. now owns 553 shares of the insurance provider’s stock worth $36,000 after buying an additional 184 shares during the last quarter. Finally, Asset Dedication LLC raised its stake in shares of W. R. Berkley by 49.9% during the 2nd quarter. Asset Dedication LLC now owns 571 shares of the insurance provider’s stock worth $38,000 after buying an additional 190 shares during the last quarter. Institutional investors own 70.69% of the company’s stock.
In related news, Director Mark Ellwood Brockbank sold 77,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 51,329 shares of the company’s stock, valued at approximately $3,419,024.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 21.70% of the company’s stock.
Several research analysts have recently issued reports on WRB shares. Zacks Investment Research raised W. R. Berkley from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research note on Saturday, July 27th. Morgan Stanley lifted their price target on W. R. Berkley from $63.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Royal Bank of Canada lifted their price target on W. R. Berkley to $68.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Buckingham Research lifted their price target on W. R. Berkley from $63.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Deutsche Bank downgraded W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 price target for the company. in a research note on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $65.20.
NYSE:WRB opened at $71.26 on Friday. The company has a market capitalization of $13.08 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 2.77 and a beta of 0.69. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.46. W. R. Berkley Corp has a 52-week low of $45.91 and a 52-week high of $73.26. The stock has a fifty day simple moving average of $71.08 and a 200-day simple moving average of $69.00.
W. R. Berkley (NYSE:WRB) last announced its earnings results on Tuesday, July 23rd. The insurance provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.18. W. R. Berkley had a net margin of 8.81% and a return on equity of 10.55%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the company posted $1.40 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities analysts anticipate that W. R. Berkley Corp will post 2.86 earnings per share 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 $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.62%. The ex-dividend date is Wednesday, September 18th. W. R. Berkley’s payout ratio is 16.48%.
About W. R. Berkley
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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