Toronto Dominion Bank increased its position in shares of W. R. Berkley Corp (NYSE:WRB) by 45.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,691 shares of the insurance provider’s stock after buying an additional 3,021 shares during the period. Toronto Dominion Bank’s holdings in W. R. Berkley were worth $701,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Squar Milner Financial Services LLC bought a new stake in W. R. Berkley in the 2nd quarter valued at $114,000. Optimum Investment Advisors bought a new stake in W. R. Berkley in the 1st quarter valued at $127,000. Natixis bought a new stake in W. R. Berkley in the 1st quarter valued at $205,000. Alps Advisors Inc. bought a new stake in W. R. Berkley in the 2nd quarter valued at $207,000. Finally, IFM Investors Pty Ltd bought a new stake in W. R. Berkley in the 1st quarter valued at $223,000. 72.63% of the stock is owned by institutional investors and hedge funds.
WRB has been the subject of a number of research reports. ValuEngine raised shares of W. R. Berkley from a “hold” rating to a “buy” rating in a report on Wednesday, July 11th. Boenning Scattergood reissued a “hold” rating on shares of W. R. Berkley in a report on Wednesday, July 25th. Credit Suisse Group initiated coverage on shares of W. R. Berkley in a report on Tuesday, August 7th. They issued a “neutral” rating and a $78.00 price target for the company. Zacks Investment Research downgraded shares of W. R. Berkley from a “hold” rating to a “sell” rating in a report on Saturday, June 30th. Finally, Goldman Sachs Group initiated coverage on shares of W. R. Berkley in a report on Monday, June 18th. They set a “sell” rating and a $74.00 price objective for the company. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $71.63.
In other news, EVP James G. Shiel sold 22,000 shares of the firm’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $77.04, for a total transaction of $1,694,880.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.20% of the stock is currently owned by company insiders.
NYSE:WRB opened at $78.57 on Thursday. The stock has a market cap of $9.51 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 2.31 and a beta of 0.84. W. R. Berkley Corp has a 52 week low of $62.00 and a 52 week high of $79.74. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.49.
W. R. Berkley (NYSE:WRB) last released its quarterly earnings data on Tuesday, July 24th. The insurance provider reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.15. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.58 billion. W. R. Berkley had a net margin of 8.54% and a return on equity of 7.25%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. equities research analysts expect that W. R. Berkley Corp will post 3.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Stockholders of record on Wednesday, September 19th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Tuesday, September 18th. W. R. Berkley’s payout ratio is 24.39%.
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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