Pictet Asset Management SA Sells 12,934 Shares of W. R. Berkley Co. (NYSE:WRB)

Pictet Asset Management SA lowered its holdings in W. R. Berkley Co. (NYSE:WRBGet Rating) by 12.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 87,494 shares of the insurance provider’s stock after selling 12,934 shares during the quarter. Pictet Asset Management SA’s holdings in W. R. Berkley were worth $5,972,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC bought a new position in W. R. Berkley during the second quarter worth $25,000. Parkside Financial Bank & Trust grew its position in W. R. Berkley by 134.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 427 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 245 shares during the last quarter. Wolff Wiese Magana LLC increased its holdings in shares of W. R. Berkley by 49.3% during the 1st quarter. Wolff Wiese Magana LLC now owns 448 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 148 shares during the period. Clear Street Markets LLC raised its position in shares of W. R. Berkley by 409.3% during the second quarter. Clear Street Markets LLC now owns 438 shares of the insurance provider’s stock valued at $30,000 after buying an additional 352 shares during the last quarter. Finally, Clearstead Advisors LLC lifted its stake in shares of W. R. Berkley by 826.0% in the first quarter. Clearstead Advisors LLC now owns 463 shares of the insurance provider’s stock valued at $31,000 after buying an additional 413 shares during the period. 69.05% of the stock is owned by institutional investors.

W. R. Berkley Stock Performance

Shares of W. R. Berkley stock opened at $73.33 on Friday. The firm has a 50 day simple moving average of $69.40 and a 200 day simple moving average of $67.58. W. R. Berkley Co. has a fifty-two week low of $50.44 and a fifty-two week high of $76.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market cap of $19.47 billion, a P/E ratio of 15.80, a P/E/G ratio of 1.86 and a beta of 0.64.

W. R. Berkley (NYSE:WRBGet Rating) last released its earnings results on Monday, October 24th. The insurance provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. W. R. Berkley had a return on equity of 17.98% and a net margin of 12.05%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period last year, the firm earned $0.88 EPS. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. Sell-side analysts predict that W. R. Berkley Co. will post 4.29 earnings per share for the current fiscal year.

W. R. Berkley Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 26th were given a dividend of $0.10 per share. The ex-dividend date was Friday, September 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. W. R. Berkley’s payout ratio is presently 8.62%.

Analysts Set New Price Targets

WRB has been the subject of several recent research reports. StockNews.com cut W. R. Berkley from a “buy” rating to a “hold” rating in a report on Saturday. Janney Montgomery Scott initiated coverage on W. R. Berkley in a research report on Friday, November 11th. They issued a “buy” rating and a $88.00 target price for the company. Morgan Stanley boosted their price target on shares of W. R. Berkley from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, August 19th. 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 stock from $77.00 to $80.00 in a report on Monday, September 5th. Finally, Wells Fargo & Company upped their target price on shares of W. R. Berkley from $83.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, October 12th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, W. R. Berkley currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.42.

About W. R. Berkley

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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.

See Also

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

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