Vanguard Group Inc. increased its position in W.R. Berkley Corp. (NYSE:WRB) by 3.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,765,883 shares of the company’s stock after buying an additional 268,774 shares during the period. Vanguard Group Inc. owned about 6.33% of W.R. Berkley Corp. worth $465,333,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of W.R. Berkley Corp. by 112.7% in the second quarter. Victory Capital Management Inc. now owns 1,474,402 shares of the company’s stock worth $88,347,000 after buying an additional 781,179 shares in the last quarter. PGGM Investments boosted its stake in shares of W.R. Berkley Corp. by 181.2% in the second quarter. PGGM Investments now owns 604,299 shares of the company’s stock worth $36,210,000 after buying an additional 389,421 shares in the last quarter. Eaton Vance Management bought a new stake in shares of W.R. Berkley Corp. during the second quarter worth approximately $22,672,000. Renaissance Technologies LLC boosted its stake in shares of W.R. Berkley Corp. by 489.1% in the first quarter. Renaissance Technologies LLC now owns 410,000 shares of the company’s stock worth $23,042,000 after buying an additional 340,400 shares in the last quarter. Finally, Capital Returns Management LLC bought a new stake in shares of W.R. Berkley Corp. during the first quarter worth approximately $14,050,000. 70.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of W.R. Berkley Corp. (NYSE:WRB) traded down 0.56% during midday trading on Tuesday, reaching $57.12. 16,525 shares of the company’s stock were exchanged. W.R. Berkley Corp. has a one year low of $47.54 and a one year high of $60.08. The stock’s 50-day moving average is $58.04 and its 200 day moving average is $57.11. The firm has a market cap of $7.01 billion, a PE ratio of 14.98 and a beta of 0.82.
W.R. Berkley Corp. (NYSE:WRB) last issued its earnings results on Monday, July 25th. The company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.05. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.96 billion. W.R. Berkley Corp. had a net margin of 6.69% and a return on equity of 9.53%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $0.81 earnings per share. Analysts anticipate that W.R. Berkley Corp. will post $3.41 EPS for the current year.
The business also recently announced a dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Tuesday, September 20th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, September 16th. This is a positive change from W.R. Berkley Corp.’s previous dividend of $0.12. W.R. Berkley Corp.’s dividend payout ratio (DPR) is 13.65%.
WRB has been the topic of a number of analyst reports. Zacks Investment Research raised W.R. Berkley Corp. from a “sell” rating to a “hold” rating in a research report on Friday, August 19th. Credit Suisse Group AG set a $52.00 price objective on W.R. Berkley Corp. and gave the company a “sell” rating in a research report on Monday, September 12th. Royal Bank Of Canada upped their price objective on W.R. Berkley Corp. from $57.00 to $61.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 13th. Finally, Compass Point upped their price objective on W.R. Berkley Corp. from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, July 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. W.R. Berkley Corp. currently has a consensus rating of “Hold” and an average price target 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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