Bank of Montreal Can purchased a new stake in shares of W. R. Berkley Corp (NYSE:WRB) during the second quarter, HoldingsChannel reports. The fund purchased 13,750 shares of the insurance provider’s stock, valued at approximately $996,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Aperio Group LLC boosted its position in shares of W. R. Berkley by 6.5% during the 1st quarter. Aperio Group LLC now owns 67,528 shares of the insurance provider’s stock worth $4,909,000 after purchasing an additional 4,144 shares in the last quarter. Corbyn Investment Management Inc. MD bought a new position in shares of W. R. Berkley during the 1st quarter worth about $3,638,000. Schwab Charles Investment Management Inc. boosted its position in shares of W. R. Berkley by 4.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 384,184 shares of the insurance provider’s stock worth $27,931,000 after purchasing an additional 17,944 shares in the last quarter. BlackRock Inc. boosted its position in shares of W. R. Berkley by 1.5% during the 1st quarter. BlackRock Inc. now owns 10,530,100 shares of the insurance provider’s stock worth $765,536,000 after purchasing an additional 158,035 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of W. R. Berkley by 6.2% during the 1st quarter. Wells Fargo & Company MN now owns 373,843 shares of the insurance provider’s stock worth $27,178,000 after purchasing an additional 21,837 shares in the last quarter. 71.76% of the stock is currently owned by institutional investors and hedge funds.
WRB opened at $77.44 on Monday. 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 Corp has a fifty-two week low of $62.00 and a fifty-two week high of $79.74. The stock has a market capitalization of $9.25 billion, a P/E ratio of 31.48, a price-to-earnings-growth ratio of 2.25 and a beta of 0.84.
W. R. Berkley (NYSE:WRB) last posted its earnings results on Tuesday, July 24th. The insurance provider reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.15. W. R. Berkley had a net margin of 8.54% and a return on equity of 7.25%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business posted $0.85 EPS. The firm’s revenue was up .8% compared to the same quarter last year. equities analysts forecast that W. R. Berkley Corp will post 3.75 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Investors of record on Wednesday, September 19th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.77%. W. R. Berkley’s dividend payout ratio is presently 24.39%.
In related news, EVP James G. Shiel sold 22,000 shares of the company’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 is available at this link. Corporate insiders own 22.20% of the company’s stock.
WRB has been the topic of a number of research analyst reports. Boenning Scattergood reissued a “hold” rating on shares of W. R. Berkley in a research report on Wednesday, July 25th. ValuEngine raised shares of W. R. Berkley from a “hold” rating to a “buy” rating in a research report on Wednesday, July 11th. Bank of America cut shares of W. R. Berkley from a “neutral” rating to an “underperform” rating and set a $74.00 price objective on the stock. in a research report on Thursday, June 14th. They noted that the move was a valuation call. Zacks Investment Research raised 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 set a “neutral” rating and a $78.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. W. R. Berkley currently has a consensus rating of “Hold” and an average price target of $71.67.
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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