Townsquare Capital LLC reduced its stake in shares of W. R. Berkley Corp (NYSE:WRB) by 9.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,140 shares of the insurance provider’s stock after selling 604 shares during the period. Townsquare Capital LLC’s holdings in W. R. Berkley were worth $359,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Mutual of America Capital Management LLC raised its holdings in shares of W. R. Berkley by 1.2% during the first quarter. Mutual of America Capital Management LLC now owns 19,772 shares of the insurance provider’s stock worth $1,032,000 after acquiring an additional 225 shares in the last quarter. Sowell Financial Services LLC increased its position in W. R. Berkley by 9.0% in the 1st quarter. Sowell Financial Services LLC now owns 3,832 shares of the insurance provider’s stock worth $200,000 after purchasing an additional 318 shares during the last quarter. DNB Asset Management AS raised its stake in shares of W. R. Berkley by 3.1% during the 2nd quarter. DNB Asset Management AS now owns 11,350 shares of the insurance provider’s stock worth $650,000 after purchasing an additional 340 shares in the last quarter. Cigna Investments Inc. New lifted its holdings in shares of W. R. Berkley by 9.5% during the 1st quarter. Cigna Investments Inc. New now owns 4,016 shares of the insurance provider’s stock valued at $209,000 after buying an additional 350 shares during the last quarter. Finally, Dean Capital Management grew its stake in shares of W. R. Berkley by 4.1% in the 1st quarter. Dean Capital Management now owns 9,093 shares of the insurance provider’s stock valued at $474,000 after buying an additional 359 shares in the last quarter. Institutional investors and hedge funds own 71.04% of the company’s stock.
A number of analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of W. R. Berkley from $62.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. TheStreet raised shares of W. R. Berkley from a “c+” rating to a “b-” rating in a research note on Tuesday, July 21st. UBS Group increased their target price on shares of W. R. Berkley from $60.00 to $66.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Deutsche Bank raised their target price on W. R. Berkley from $58.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Finally, Zacks Investment Research downgraded W. R. Berkley from a “hold” rating to a “sell” rating and set a $60.00 price target for the company. in a research note on Saturday, June 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $64.29.
WRB traded up $0.26 during trading on Tuesday, hitting $64.11. The stock had a trading volume of 1,321 shares, compared to its average volume of 941,254. The firm has a market cap of $11.37 billion, a PE ratio of 34.89, a P/E/G ratio of 3.06 and a beta of 0.82. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.50. W. R. Berkley Corp has a 12 month low of $43.05 and a 12 month high of $79.92. The company has a 50 day simple moving average of $62.43 and a 200-day simple moving average of $58.16.
W. R. Berkley (NYSE:WRB) last issued its quarterly earnings results on Tuesday, July 21st. The insurance provider reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.17). W. R. Berkley had a net margin of 4.57% and a return on equity of 7.55%. The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the business posted $0.82 earnings per share. As a group, sell-side analysts anticipate that W. R. Berkley Corp will post 2.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Monday, September 14th. W. R. Berkley’s dividend payout ratio (DPR) is currently 15.84%.
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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