Cullen Frost Bankers Inc. bought a new position in shares of W. R. Berkley Corp (NYSE:WRB) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 625 shares of the insurance provider’s stock, valued at approximately $41,000.
Other hedge funds also recently made changes to their positions in the company. Eagle Ridge Investment Management boosted its position in shares of W. R. Berkley by 50.0% during the second quarter. Eagle Ridge Investment Management now owns 4,650 shares of the insurance provider’s stock worth $307,000 after purchasing an additional 1,550 shares in the last quarter. Stephens Inc. AR lifted its stake in W. R. Berkley by 49.9% in the second quarter. Stephens Inc. AR now owns 6,843 shares of the insurance provider’s stock valued at $451,000 after buying an additional 2,279 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of W. R. Berkley by 20.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 26,655 shares of the insurance provider’s stock valued at $1,771,000 after buying an additional 4,610 shares during the period. Chesapeake Wealth Management increased its holdings in W. R. Berkley by 118.1% during the 2nd quarter. Chesapeake Wealth Management now owns 15,071 shares of the insurance provider’s stock worth $994,000 after purchasing an additional 8,161 shares in the last quarter. Finally, Advisory Services Network LLC raised its stake in shares of W. R. Berkley by 70.1% in the 2nd quarter. Advisory Services Network LLC now owns 7,346 shares of the insurance provider’s stock valued at $484,000 after purchasing an additional 3,027 shares during the period. 70.69% of the stock is currently owned by institutional investors and hedge funds.
WRB has been the topic of several research reports. Deutsche Bank cut W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 target price on the stock. in a research note 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 target on the stock in a research note on Saturday, July 27th. Royal Bank of Canada raised their price objective on W. R. Berkley to $68.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price target on W. R. Berkley from $63.00 to $73.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $65.40.
NYSE:WRB opened at $71.14 on Thursday. The firm’s fifty day moving average price is $71.08 and its two-hundred day moving average price is $69.00. The company has a market cap of $13.08 billion, a P/E ratio of 26.64, a P/E/G ratio of 2.77 and a beta of 0.69. W. R. Berkley Corp has a one year low of $45.91 and a one year high of $73.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.48 and a quick ratio of 0.48.
W. R. Berkley (NYSE:WRB) last issued 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 business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. W. R. Berkley had a net margin of 8.81% and a return on equity of 10.55%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.40 EPS. As a group, equities research analysts expect that W. R. Berkley Corp will post 2.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 19th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Wednesday, September 18th. W. R. Berkley’s dividend payout ratio (DPR) is presently 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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