Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of W. R. Berkley Co. (NYSE:WRB) by 1,278.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 131,922 shares of the insurance provider’s stock after purchasing an additional 122,355 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.07% of W. R. Berkley worth $8,762,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in WRB. International Assets Investment Management LLC purchased a new stake in shares of W. R. Berkley in the fourth quarter worth about $26,000. Vantage Consulting Group Inc purchased a new stake in W. R. Berkley in the 4th quarter worth approximately $97,000. Federated Hermes Inc. grew its stake in shares of W. R. Berkley by 6,487.0% during the 4th quarter. Federated Hermes Inc. now owns 1,515 shares of the insurance provider’s stock worth $101,000 after purchasing an additional 1,492 shares during the period. Bessemer Group Inc. increased its holdings in shares of W. R. Berkley by 468.2% during the 4th quarter. Bessemer Group Inc. now owns 1,699 shares of the insurance provider’s stock valued at $113,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Berman Capital Advisors LLC lifted its stake in shares of W. R. Berkley by 7.6% in the 4th quarter. Berman Capital Advisors LLC now owns 2,121 shares of the insurance provider’s stock valued at $139,000 after purchasing an additional 149 shares during the period. 71.04% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on WRB. Morgan Stanley lifted their price objective on shares of W. R. Berkley from $77.00 to $83.00 and gave the company an “equal weight” rating in a report on Tuesday, March 30th. Zacks Investment Research raised W. R. Berkley from a “hold” rating to a “buy” rating and set a $77.00 price target for the company in a report on Tuesday, March 23rd. Credit Suisse Group raised their price objective on W. R. Berkley from $68.00 to $73.00 and gave the company an “outperform” rating in a report on Monday, January 11th. UBS Group raised W. R. Berkley from a “neutral” rating to a “buy” rating and upped their target price for the stock from $73.00 to $80.00 in a research note on Tuesday, March 2nd. Finally, Wells Fargo & Company began coverage on shares of W. R. Berkley in a research note on Wednesday. They issued an “overweight” rating and a $92.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $74.44.
W. R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Monday, January 25th. The insurance provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.13. W. R. Berkley had a net margin of 4.57% and a return on equity of 7.55%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the company earned $0.62 EPS. W. R. Berkley’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts anticipate that W. R. Berkley Co. will post 2.2 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 24th. Investors of record on Wednesday, March 10th were issued a $0.12 dividend. The ex-dividend date was Tuesday, March 9th. This represents a $0.48 annualized dividend and a dividend yield of 0.61%. W. R. Berkley’s dividend payout ratio is presently 15.84%.
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 in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and general and professional liability lines.
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