6 Meridian raised its stake in W. R. Berkley Corp (NYSE:WRB) by 51.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,566 shares of the insurance provider’s stock after acquiring an additional 3,246 shares during the quarter. 6 Meridian’s holdings in W. R. Berkley were worth $631,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its position in W. R. Berkley by 4.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,071 shares of the insurance provider’s stock worth $301,000 after purchasing an additional 186 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in W. R. Berkley by 224.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 8,443 shares of the insurance provider’s stock worth $624,000 after buying an additional 5,838 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in W. R. Berkley by 10.2% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 67,484 shares of the insurance provider’s stock worth $4,988,000 after buying an additional 6,265 shares in the last quarter. Macquarie Group Ltd. acquired a new position in W. R. Berkley in the 4th quarter worth $251,000. Finally, Millennium Management LLC lifted its holdings in W. R. Berkley by 312.3% in the 4th quarter. Millennium Management LLC now owns 192,117 shares of the insurance provider’s stock worth $14,199,000 after buying an additional 145,520 shares in the last quarter. Institutional investors own 72.63% of the company’s stock.
WRB has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on shares of W. R. Berkley from $63.00 to $73.00 and gave the stock an “equal weight” rating in a report on Wednesday. Deutsche Bank lowered shares of W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 price objective on the stock. in a report on Wednesday, June 26th. Zacks Investment Research upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Saturday, July 27th. Boenning Scattergood reiterated a “hold” rating on shares of W. R. Berkley in a report on Wednesday, April 24th. Finally, UBS Group upped their target price on shares of W. R. Berkley from $53.00 to $56.00 and gave the company a “sell” rating in a research note on Wednesday, April 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $65.40.
Shares of W. R. Berkley stock opened at $71.01 on Friday. The firm has a market cap of $13.04 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 2.80 and a beta of 0.72. W. R. Berkley Corp has a 1 year low of $45.91 and a 1 year high of $72.62. The firm’s 50-day simple moving average is $68.56 and its 200-day simple moving average is $69.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.48 and a current ratio of 0.48.
W. R. Berkley (NYSE:WRB) last released its quarterly earnings data on Tuesday, July 23rd. The insurance provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.18. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. W. R. Berkley had a net margin of 8.81% and a return on equity of 10.55%. W. R. Berkley’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.40 earnings per share. On average, equities analysts predict that W. R. Berkley Corp will post 2.82 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 19th will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, September 18th. This represents a $0.44 annualized dividend and a yield of 0.62%. W. R. Berkley’s dividend payout ratio (DPR) is 16.48%.
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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