Advisors Asset Management Inc. held its stake in W.R. Berkley Corp. (NYSE:WRB) during the second quarter, Holdings Channel reports. The institutional investor owned 2,612 shares of the company’s stock at the end of the second quarter. Advisors Asset Management Inc.’s holdings in W.R. Berkley Corp. were worth $157,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. Brightworth acquired a new stake in shares of W.R. Berkley Corp. during the second quarter worth approximately $213,000. Smith Salley & Associates acquired a new stake in shares of W.R. Berkley Corp. during the second quarter worth approximately $222,000. Glenmede Trust Co. NA raised its stake in shares of W.R. Berkley Corp. by 52.2% in the second quarter. Glenmede Trust Co. NA now owns 4,387 shares of the company’s stock worth $262,000 after buying an additional 1,505 shares during the period. Quantbot Technologies LP acquired a new stake in shares of W.R. Berkley Corp. during the second quarter worth approximately $302,000. Finally, Cutler Group LP raised its stake in shares of W.R. Berkley Corp. by 2.0% in the first quarter. Cutler Group LP now owns 5,068 shares of the company’s stock worth $284,000 after buying an additional 100 shares during the period. Institutional investors own 70.99% of the company’s stock.
Shares of W.R. Berkley Corp. (NYSE:WRB) traded down 0.40% during trading on Thursday, hitting $57.38. 89,962 shares of the company were exchanged. W.R. Berkley Corp. has a 1-year low of $47.54 and a 1-year high of $60.08. The company has a 50 day moving average of $58.00 and a 200-day moving average of $57.13. The stock has a market capitalization of $7.04 billion, a PE ratio of 15.05 and a beta of 0.82.
W.R. Berkley Corp. (NYSE:WRB) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. W.R. Berkley Corp. had a return on equity of 9.53% and a net margin of 6.69%. The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm earned $0.81 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. On average, analysts forecast that W.R. Berkley Corp. will post $3.41 earnings per share for the current year.
The company also recently disclosed a dividend, which was paid on Wednesday, October 5th. Shareholders of record on Tuesday, September 20th were paid a $0.63 dividend. This is an increase from W.R. Berkley Corp.’s previous dividend of $0.12. The ex-dividend date was Friday, September 16th. W.R. Berkley Corp.’s payout ratio is presently 13.65%.
A number of equities analysts have issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of W.R. Berkley Corp. from $57.00 to $61.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 13th. Compass Point lifted their price objective on shares of W.R. Berkley Corp. from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, July 26th. Zacks Investment Research raised shares of W.R. Berkley Corp. from a “sell” rating to a “hold” rating in a report on Friday, August 19th. Finally, Credit Suisse Group AG set a $52.00 price objective on shares of W.R. Berkley Corp. and gave the stock a “sell” rating in a report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. W.R. Berkley Corp. currently has a consensus rating of “Hold” and a consensus target price of $56.83.
About W.R. Berkley Corp.
W. R. Berkley Corporation is an insurance holding company. The Company operates in the three segments of the property casualty insurance business: Insurance-Domestic, Insurance-International and Reinsurance-Global. Its Insurance-Domestic segment includes commercial insurance business, including excess and surplus lines and admitted lines, primarily throughout the United States.
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