AMI Investment Management Inc. lowered its holdings in W. R. Berkley Corp (NYSE:WRB) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,253 shares of the insurance provider’s stock after selling 3,827 shares during the quarter. W. R. Berkley accounts for about 2.8% of AMI Investment Management Inc.’s investment portfolio, making the stock its 10th biggest position. AMI Investment Management Inc. owned about 0.05% of W. R. Berkley worth $4,435,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of WRB. Victory Capital Management Inc. increased its stake in W. R. Berkley by 7.9% in the first quarter. Victory Capital Management Inc. now owns 3,824,202 shares of the insurance provider’s stock valued at $278,020,000 after acquiring an additional 279,611 shares during the period. Scout Investments Inc. bought a new stake in W. R. Berkley in the first quarter valued at about $17,333,000. Atlanta Capital Management Co. L L C increased its stake in W. R. Berkley by 4.7% in the first quarter. Atlanta Capital Management Co. L L C now owns 4,936,221 shares of the insurance provider’s stock valued at $358,863,000 after acquiring an additional 221,277 shares during the period. JPMorgan Chase & Co. increased its stake in W. R. Berkley by 11.8% in the first quarter. JPMorgan Chase & Co. now owns 2,020,566 shares of the insurance provider’s stock valued at $146,896,000 after acquiring an additional 212,621 shares during the period. Finally, Fiduciary Management Inc. WI increased its stake in W. R. Berkley by 20.9% in the first quarter. Fiduciary Management Inc. WI now owns 1,196,874 shares of the insurance provider’s stock valued at $87,013,000 after acquiring an additional 207,239 shares during the period. 71.76% of the stock is currently owned by institutional investors and hedge funds.
In other W. R. Berkley news, EVP James G. Shiel sold 22,000 shares of the business’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $77.04, for a total value of $1,694,880.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 22.20% of the stock is owned by insiders.
A number of analysts recently weighed in on WRB shares. ValuEngine raised shares of W. R. Berkley from a “hold” rating to a “buy” rating in a research note on Wednesday, July 11th. Boenning Scattergood reissued a “hold” rating on shares of W. R. Berkley in a research note on Wednesday, July 25th. Bank of America cut shares of W. R. Berkley from a “neutral” rating to an “underperform” rating and set a $74.00 target price on the stock. in a research note on Thursday, June 14th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of W. R. Berkley from a “sell” rating to a “hold” rating in a research report on Friday, April 27th. Finally, Credit Suisse Group initiated coverage on shares of W. R. Berkley in a research report on Tuesday, August 7th. They issued a “neutral” rating and a $78.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $71.67.
NYSE:WRB opened at $77.44 on Friday. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 2.25 and a beta of 0.84. W. R. Berkley Corp has a 12 month low of $62.00 and a 12 month high of $79.74. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.49.
W. R. Berkley (NYSE:WRB) last released its quarterly earnings results on Tuesday, July 24th. The insurance provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.15. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. W. R. Berkley had a net margin of 8.54% and a return on equity of 7.25%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.85 earnings per share. research analysts predict that W. R. Berkley Corp will post 3.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Wednesday, September 19th will be given a $0.15 dividend. The ex-dividend date is Tuesday, September 18th. This represents a $0.60 dividend on an annualized basis and a yield of 0.77%. W. R. Berkley’s dividend payout ratio (DPR) is presently 24.39%.
W. R. Berkley 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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