Teacher Retirement System of Texas lifted its holdings in shares of W. R. Berkley Corp (NYSE:WRB) by 285.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 83,002 shares of the insurance provider’s stock after purchasing an additional 61,457 shares during the quarter. Teacher Retirement System of Texas owned about 0.07% of W. R. Berkley worth $6,010,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the company. Squar Milner Financial Services LLC acquired a new stake in W. R. Berkley in the second quarter valued at approximately $114,000. Optimum Investment Advisors acquired a new stake in W. R. Berkley in the first quarter valued at approximately $127,000. Natixis acquired a new stake in W. R. Berkley in the first quarter valued at approximately $205,000. Alps Advisors Inc. acquired a new stake in W. R. Berkley in the second quarter valued at approximately $207,000. Finally, IFM Investors Pty Ltd acquired a new stake in W. R. Berkley in the first quarter valued at approximately $223,000. 73.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of WRB opened at $78.04 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $9.43 billion, a PE ratio of 31.72, a price-to-earnings-growth ratio of 2.29 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.
W. R. Berkley (NYSE:WRB) last announced its earnings results on Tuesday, July 24th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.15. The business 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 last year, the firm posted $0.85 earnings per share. analysts anticipate that W. R. Berkley Corp will post 3.75 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Wednesday, September 19th will be given a dividend of $0.15 per share. 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 (DPR) is presently 24.39%.
A number of research firms have weighed in on WRB. 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 report on Thursday, June 14th. They noted that the move was a valuation call. Zacks Investment Research cut shares of W. R. Berkley from a “hold” rating to a “sell” rating in a report on Saturday, June 30th. Credit Suisse Group began coverage on shares of W. R. Berkley in a report on Tuesday, August 7th. They set a “neutral” rating and a $78.00 price objective on the stock. ValuEngine upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating in a research report on Thursday, April 26th. Finally, Boenning Scattergood restated a “hold” rating on shares of W. R. Berkley in a research report on Wednesday, July 25th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $71.67.
In other news, EVP James G. Shiel sold 22,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $77.04, for a total transaction of $1,694,880.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 22.20% of the company’s stock.
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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