AE Wealth Management LLC Cuts Stock Holdings in W. R. Berkley Co. (NYSE:WRB)

AE Wealth Management LLC trimmed its holdings in shares of W. R. Berkley Co. (NYSE:WRBGet Rating) by 78.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,534 shares of the insurance provider’s stock after selling 48,979 shares during the period. AE Wealth Management LLC’s holdings in W. R. Berkley were worth $874,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WRB. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in W. R. Berkley by 77.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 106,276 shares of the insurance provider’s stock worth $7,254,000 after buying an additional 46,481 shares in the last quarter. SG Americas Securities LLC raised its stake in W. R. Berkley by 172.4% in the second quarter. SG Americas Securities LLC now owns 21,171 shares of the insurance provider’s stock worth $1,445,000 after buying an additional 13,400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in W. R. Berkley by 66.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,175 shares of the insurance provider’s stock worth $2,209,000 after buying an additional 13,300 shares in the last quarter. Comerica Bank raised its stake in W. R. Berkley by 31.6% in the second quarter. Comerica Bank now owns 34,860 shares of the insurance provider’s stock worth $2,229,000 after buying an additional 8,368 shares in the last quarter. Finally, AlphaCrest Capital Management LLC raised its stake in W. R. Berkley by 237.2% in the second quarter. AlphaCrest Capital Management LLC now owns 67,186 shares of the insurance provider’s stock worth $4,586,000 after buying an additional 47,261 shares in the last quarter. 71.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WRB. StockNews.com downgraded shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research note on Saturday, November 19th. Wells Fargo & Company raised their price target 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. Royal Bank of Canada raised their price target on shares of W. R. Berkley from $75.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday, October 25th. UBS Group raised their price target on shares of W. R. Berkley to $84.00 in a research report on Friday, November 4th. Finally, 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 target for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, W. R. Berkley has an average rating of “Moderate Buy” and an average target price of $78.87.

W. R. Berkley Price Performance

WRB stock opened at $73.03 on Friday. The stock has a market cap of $19.39 billion, a PE ratio of 15.74, a P/E/G ratio of 1.72 and a beta of 0.64. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.45. W. R. Berkley Co. has a 12 month low of $53.34 and a 12 month high of $76.99. The company has a 50-day moving average price of $73.37 and a 200 day moving average price of $69.01.

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 firm had revenue of $2.44 billion during 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%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 EPS. Equities research analysts anticipate that W. R. Berkley Co. will post 4.29 earnings per share for the current year.

W. R. Berkley Cuts Dividend

The business also recently declared 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. The ex-dividend date is Thursday, January 12th. W. R. Berkley’s payout ratio is 8.62%.

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.

Further Reading

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.