Amalgamated Bank Has $4.56 Million Stake in W. R. Berkley Co. (NYSE:WRB)

Amalgamated Bank raised its position in shares of W. R. Berkley Co. (NYSE:WRBGet Rating) by 42.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,450 shares of the insurance provider’s stock after buying an additional 20,368 shares during the period. Amalgamated Bank’s holdings in W. R. Berkley were worth $4,558,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Covestor Ltd acquired a new stake in shares of W. R. Berkley in the fourth quarter valued at approximately $36,000. Bank of Montreal Can increased its holdings in shares of W. R. Berkley by 4.6% in the fourth quarter. Bank of Montreal Can now owns 176,400 shares of the insurance provider’s stock valued at $14,572,000 after purchasing an additional 7,816 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of W. R. Berkley by 78.6% in the fourth quarter. Allianz Asset Management GmbH now owns 67,177 shares of the insurance provider’s stock valued at $5,535,000 after purchasing an additional 29,570 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of W. R. Berkley by 29.2% in the fourth quarter. Ensign Peak Advisors Inc now owns 23,283 shares of the insurance provider’s stock valued at $1,918,000 after purchasing an additional 5,261 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of W. R. Berkley by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,012,979 shares of the insurance provider’s stock valued at $83,460,000 after purchasing an additional 24,595 shares in the last quarter. Institutional investors and hedge funds own 69.05% of the company’s stock.

Wall Street Analysts Forecast Growth

WRB has been the subject of a number of research reports. Jefferies Financial Group raised their price target on shares of W. R. Berkley from $67.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 12th. Keefe, Bruyette & Woods raised shares of W. R. Berkley from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $77.00 to $80.00 in a research note on Monday, September 5th. Wells Fargo & Company raised their price objective on shares of W. R. Berkley to $83.00 in a research note on Friday, July 22nd. Morgan Stanley raised their price objective on shares of W. R. Berkley from $70.00 to $72.00 and gave the company an “equal weight” rating in a research note on Friday, August 19th. Finally, StockNews.com cut shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $73.70.

Insider Transactions at W. R. Berkley

In related news, Director Mark Ellwood Brockbank acquired 4,566 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were acquired at an average cost of $62.00 per share, with a total value of $283,092.00. Following the transaction, the director now owns 4,566 shares of the company’s stock, valued at approximately $283,092. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 22.50% of the company’s stock.

W. R. Berkley Trading Down 1.7 %

Shares of NYSE WRB opened at $66.38 on Wednesday. The company’s fifty day moving average is $64.97 and its 200-day moving average is $66.47. The stock has a market cap of $17.61 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.82 and a beta of 0.62. W. R. Berkley Co. has a twelve month low of $47.73 and a twelve month high of $72.32. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.43.

W. R. Berkley (NYSE:WRBGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The insurance provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.28. The company had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.56 billion. W. R. Berkley had a net margin of 12.71% and a return on equity of 17.26%. During the same period last year, the firm posted $0.78 earnings per share. Equities research analysts predict that W. R. Berkley Co. will post 4.1 EPS for the current year.

W. R. Berkley Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 26th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.60%. W. R. Berkley’s dividend payout ratio is 8.42%.

W. R. Berkley Company Profile

(Get Rating)

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and general and professional liability lines.

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Institutional Ownership by Quarter for W. R. Berkley (NYSE:WRB)

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