A.R.T. Advisors LLC bought a new stake in W. R. Berkley Corp (NYSE:WRB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,865 shares of the insurance provider’s stock, valued at approximately $1,376,000.
Other large investors have also bought and sold shares of the company. Krane Funds Advisors LLC purchased a new position in shares of W. R. Berkley during the second quarter worth about $26,000. Steward Partners Investment Advisory LLC purchased a new position in shares of W. R. Berkley during the second quarter worth about $27,000. Hanson McClain Inc. grew its holdings in shares of W. R. Berkley by 50.0% during the second quarter. Hanson McClain Inc. now owns 525 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 175 shares during the last quarter. Johnson Financial Group Inc. grew its holdings in shares of W. R. Berkley by 49.9% during the second quarter. Johnson Financial Group Inc. now owns 553 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 184 shares during the last quarter. Finally, Asset Dedication LLC grew its holdings in shares of W. R. Berkley by 49.9% during the second quarter. Asset Dedication LLC now owns 571 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 190 shares during the last quarter. 70.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE WRB traded down $0.25 during midday trading on Friday, reaching $71.07. 474,145 shares of the company were exchanged, compared to its average volume of 551,065. 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 1 year low of $45.91 and a 1 year high of $73.26. The stock has a fifty day simple moving average of $71.66 and a 200 day simple moving average of $67.32. The stock has a market cap of $13.03 billion, a P/E ratio of 26.62, a PEG ratio of 2.76 and a beta of 0.68.
W. R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Tuesday, July 23rd. The insurance provider reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.18. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. W. R. Berkley had a net margin of 8.81% and a return on equity of 10.55%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.40 earnings per share. As a group, analysts forecast that W. R. Berkley Corp will post 2.86 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 19th were given a $0.11 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $0.44 dividend on an annualized basis and a yield of 0.62%. W. R. Berkley’s payout ratio is currently 16.48%.
WRB has been the topic of several research reports. Morgan Stanley raised their price objective on W. R. Berkley from $63.00 to $73.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. Buckingham Research raised their price objective on W. R. Berkley from $63.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, September 12th. ValuEngine lowered W. R. Berkley from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised W. R. Berkley from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Saturday, July 27th. Finally, Royal Bank of Canada raised their price target on 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. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $65.20.
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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