Candriam Luxembourg S.C.A. lowered its stake in shares of W.R. Berkley Corp. (NYSE:WRB) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,923 shares of the company’s stock after selling 166 shares during the period. Candriam Luxembourg S.C.A.’s holdings in W.R. Berkley Corp. were worth $714,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of WRB. BlackRock Fund Advisors boosted its stake in W.R. Berkley Corp. by 5.9% in the first quarter. BlackRock Fund Advisors now owns 4,159,966 shares of the company’s stock valued at $233,790,000 after buying an additional 232,394 shares during the period. State Street Corp boosted its stake in W.R. Berkley Corp. by 1.9% in the first quarter. State Street Corp now owns 3,929,064 shares of the company’s stock valued at $220,818,000 after buying an additional 74,823 shares during the period. Goldman Sachs Group Inc. boosted its stake in W.R. Berkley Corp. by 0.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,428,343 shares of the company’s stock valued at $192,673,000 after buying an additional 27,528 shares during the period. Wellington Management Group LLP boosted its stake in W.R. Berkley Corp. by 0.6% in the first quarter. Wellington Management Group LLP now owns 1,394,284 shares of the company’s stock valued at $78,359,000 after buying an additional 8,124 shares during the period. Finally, BlackRock Group LTD boosted its stake in W.R. Berkley Corp. by 3.4% in the first quarter. BlackRock Group LTD now owns 860,466 shares of the company’s stock valued at $48,357,000 after buying an additional 28,519 shares during the period. Institutional investors own 70.99% of the company’s stock.
Shares of W.R. Berkley Corp. (NYSE:WRB) remained flat at $57.65 on Friday. The company had a trading volume of 476,253 shares. The firm’s 50-day moving average is $57.97 and its 200-day moving average is $57.16. W.R. Berkley Corp. has a 52-week low of $47.54 and a 52-week high of $60.08. The company has a market capitalization of $7.08 billion, a P/E ratio of 15.12 and a beta of 0.82.
W.R. Berkley Corp. (NYSE:WRB) last issued its quarterly earnings data on Monday, July 25th. The company reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ 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 company 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 posted $0.81 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts forecast that W.R. Berkley Corp. will post $3.41 EPS for the current fiscal year.
The business also recently disclosed a dividend, which was paid on Wednesday, October 5th. Shareholders of record on Tuesday, September 20th were paid a dividend of $0.63 per share. This is a boost 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%.
Several equities research analysts have weighed in on WRB shares. Zacks Investment Research upgraded W.R. Berkley Corp. from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, September 27th. Credit Suisse Group AG set a $52.00 price objective on W.R. Berkley Corp. and gave the stock a “sell” rating in a report on Monday, September 12th. Royal Bank Of Canada increased their price objective on 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. Finally, Compass Point increased their price objective on W.R. Berkley Corp. from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, July 26th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock 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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