Louisiana State Employees Retirement System Purchases Shares of 13,100 W. R. Berkley Co. (NYSE:WRB)

Louisiana State Employees Retirement System purchased a new stake in shares of W. R. Berkley Co. (NYSE:WRBGet Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 13,100 shares of the insurance provider’s stock, valued at approximately $846,000.

Other large investors have also added to or reduced their stakes in the company. FinTrust Capital Advisors LLC purchased a new position in W. R. Berkley during the second quarter valued at approximately $25,000. Parkside Financial Bank & Trust lifted its holdings in W. R. Berkley by 134.6% during the second quarter. Parkside Financial Bank & Trust now owns 427 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 245 shares in the last quarter. 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. First Manhattan Co. raised its position in shares of W. R. Berkley by 50.0% during the first quarter. First Manhattan Co. now owns 486 shares of the insurance provider’s stock valued at $32,000 after buying an additional 162 shares during the last quarter. Finally, SRS Capital Advisors Inc. bought a new stake in shares of W. R. Berkley during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 71.66% of the company’s stock.

W. R. Berkley Trading Down 0.3 %

Shares of WRB opened at $72.34 on Thursday. The company’s fifty day moving average is $73.46 and its 200 day moving average is $68.77. W. R. Berkley Co. has a fifty-two week low of $53.34 and a fifty-two week high of $76.99. The stock has a market capitalization of $19.20 billion, a PE ratio of 15.59, a P/E/G ratio of 1.68 and a beta of 0.64. 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 announced its quarterly earnings results on Monday, October 24th. The insurance provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.19. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.44 billion. W. R. Berkley had a net margin of 12.05% and a return on equity of 17.98%. W. R. Berkley’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 earnings per share. Sell-side analysts expect that W. R. Berkley Co. will post 4.29 earnings per share for the current fiscal year.

W. R. Berkley Cuts Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, January 24th. Shareholders of record on Friday, January 13th will be paid a dividend of $0.50 per share. W. R. Berkley’s payout ratio is 8.62%.

Analyst Ratings Changes

WRB has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of W. R. Berkley from $72.00 to $75.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 22nd. Janney Montgomery Scott initiated coverage on shares of W. R. Berkley in a research report on Friday, November 11th. They set a “buy” rating and a $88.00 price objective on the stock. UBS Group lifted their price objective on shares of W. R. Berkley to $84.00 in a research report on Friday, November 4th. Wells Fargo & Company lifted their price objective on shares of W. R. Berkley from $83.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday, October 12th. Finally, StockNews.com cut shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Saturday, November 19th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.87.

W. R. Berkley 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.

Featured Stories

Want to see what other hedge funds are holding WRB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for W. R. Berkley Co. (NYSE:WRBGet Rating).

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

Receive News & Ratings for W. R. Berkley Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W. R. Berkley and related companies with MarketBeat.com's FREE daily email newsletter.