Cibc World Market Inc. Increases Holdings in W. R. Berkley Co. (NYSE:WRB)

Cibc World Market Inc. raised its position in shares of W. R. Berkley Co. (NYSE:WRBGet Rating) by 239.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,960 shares of the insurance provider’s stock after acquiring an additional 9,139 shares during the period. Cibc World Market Inc.’s holdings in W. R. Berkley were worth $885,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of WRB. Marietta Investment Partners LLC bought a new stake in shares of W. R. Berkley in the 2nd quarter worth approximately $1,006,000. Industrial Alliance Investment Management Inc. bought a new position in W. R. Berkley in the 2nd quarter valued at approximately $240,000. Desjardins Global Asset Management Inc. bought a new position in W. R. Berkley in the 2nd quarter valued at approximately $1,863,000. Trek Financial LLC bought a new position in W. R. Berkley in the 2nd quarter valued at approximately $627,000. Finally, Ranch Capital Advisors Inc. bought a new position in W. R. Berkley in the 2nd quarter valued at approximately $258,000. 69.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WRB. Keefe, Bruyette & Woods upgraded shares of W. R. Berkley from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $77.00 to $80.00 in a research note on Monday, September 5th. UBS Group upped their target price on shares of W. R. Berkley to $84.00 in a report on Friday, November 4th. Wells Fargo & Company increased their price objective on shares of W. R. Berkley from $83.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, October 12th. Argus started coverage on shares of W. R. Berkley in a report on Wednesday, August 3rd. They set a “buy” rating and a $72.00 price objective for the company. Finally, Morgan Stanley increased 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. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.42.

W. R. Berkley Stock Performance

Shares of NYSE:WRB opened at $73.33 on Monday. The firm has a market cap of $19.47 billion, a PE ratio of 15.80, a price-to-earnings-growth ratio of 1.90 and a beta of 0.64. The firm’s 50 day simple moving average is $69.40 and its 200-day simple moving average is $67.57. W. R. Berkley Co. has a one year low of $50.44 and a one year high of $76.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.37 and a current ratio of 0.37.

W. R. Berkley (NYSE:WRBGet Rating) last issued its earnings results on Monday, October 24th. The insurance provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.44 billion. W. R. Berkley had a net margin of 12.05% and a return on equity of 17.98%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. As a group, equities analysts predict that W. R. Berkley Co. will post 4.29 EPS for the current year.

W. R. Berkley Announces Dividend

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

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.

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

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