ING Groep NV increased its holdings in W. R. Berkley Corp (NYSE:WRB) by 107.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,023 shares of the insurance provider’s stock after acquiring an additional 3,118 shares during the quarter. ING Groep NV’s holdings in W. R. Berkley were worth $436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of WRB. Janus Henderson Group PLC increased its stake in shares of W. R. Berkley by 182.1% in the 2nd quarter. Janus Henderson Group PLC now owns 3,349,020 shares of the insurance provider’s stock worth $242,502,000 after acquiring an additional 2,162,031 shares in the last quarter. Scout Investments Inc. bought a new position in shares of W. R. Berkley in the 1st quarter worth about $17,333,000. Atlanta Capital Management Co. L L C increased its stake in shares of W. R. Berkley by 4.7% in the 1st quarter. Atlanta Capital Management Co. L L C now owns 4,936,221 shares of the insurance provider’s stock worth $358,863,000 after acquiring an additional 221,277 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of W. R. Berkley by 11.8% in the 1st quarter. JPMorgan Chase & Co. now owns 2,020,566 shares of the insurance provider’s stock worth $146,896,000 after acquiring an additional 212,621 shares in the last quarter. Finally, Fiduciary Management Inc. WI increased its stake in shares of W. R. Berkley by 20.9% in the 1st quarter. Fiduciary Management Inc. WI now owns 1,196,874 shares of the insurance provider’s stock worth $87,013,000 after acquiring an additional 207,239 shares in the last quarter. Institutional investors own 72.63% of the company’s stock.
WRB has been the subject of several research reports. ValuEngine upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating in a research note on Wednesday, July 11th. Boenning Scattergood reiterated a “hold” rating on shares of W. R. Berkley in a research note on Wednesday, July 25th. Credit Suisse Group initiated coverage on shares of W. R. Berkley in a research note on Tuesday, August 7th. They issued a “neutral” rating and a $78.00 price target for the company. Zacks Investment Research lowered shares of W. R. Berkley from a “hold” rating to a “sell” rating in a research note on Saturday, June 30th. Finally, Goldman Sachs Group initiated coverage on shares of W. R. Berkley in a research note 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 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. The company currently has a consensus rating of “Hold” and an average price target of $71.63.
NYSE:WRB opened at $78.77 on Friday. The stock has a market cap of $9.58 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 2.35 and a beta of 0.83. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.37 and a quick ratio of 0.37. W. R. Berkley Corp has a fifty-two week low of $62.00 and a fifty-two week high of $79.74.
W. R. Berkley (NYSE:WRB) last released its quarterly earnings data on Tuesday, July 24th. The insurance provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.15. The business had revenue of $1.58 billion during 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%. W. R. Berkley’s revenue was up .8% compared to the same quarter last year. During the same period last year, the business earned $0.85 EPS. equities research analysts expect that W. R. Berkley Corp will post 3.71 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 3rd. Shareholders of record on Wednesday, September 19th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 18th. This represents a $0.60 dividend on an annualized basis and a yield of 0.76%. W. R. Berkley’s dividend payout ratio is currently 24.39%.
In other W. R. Berkley 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.20% of the stock is currently owned by company insiders.
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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