Jupiter Asset Management Ltd. bought a new position in W. R. Berkley Co. (NYSE:WRB – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 58,261 shares of the insurance provider’s stock, valued at approximately $3,468,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Clarius Group LLC purchased a new position in shares of W. R. Berkley in the 2nd quarter worth approximately $219,000. EULAV Asset Management boosted its holdings in shares of W. R. Berkley by 29.1% in the 2nd quarter. EULAV Asset Management now owns 905,544 shares of the insurance provider’s stock worth $53,934,000 after purchasing an additional 204,000 shares during the period. Cetera Investment Advisers boosted its holdings in shares of W. R. Berkley by 45.2% in the 2nd quarter. Cetera Investment Advisers now owns 11,900 shares of the insurance provider’s stock worth $709,000 after purchasing an additional 3,705 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of W. R. Berkley by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,756,562 shares of the insurance provider’s stock worth $104,618,000 after purchasing an additional 143,566 shares during the period. Finally, BNP Paribas Arbitrage SNC boosted its holdings in shares of W. R. Berkley by 38.2% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 212,246 shares of the insurance provider’s stock worth $12,641,000 after purchasing an additional 58,716 shares during the period. Hedge funds and other institutional investors own 66.34% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the company. StockNews.com assumed coverage on W. R. Berkley in a research note on Thursday, October 5th. They set a “buy” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $72.00 price target on shares of W. R. Berkley in a research note on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, W. R. Berkley has an average rating of “Moderate Buy” and an average price target of $75.50.
W. R. Berkley Trading Up 0.6 %
Shares of NYSE WRB opened at $70.21 on Friday. The firm has a market cap of $18.11 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.59 and a beta of 0.59. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.41. W. R. Berkley Co. has a twelve month low of $55.50 and a twelve month high of $76.99. The business has a fifty day simple moving average of $65.55 and a two-hundred day simple moving average of $61.81.
W. R. Berkley (NYSE:WRB – Get Free Report) last released its quarterly earnings results on Monday, October 23rd. The insurance provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.18 by $0.17. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.67 billion. W. R. Berkley had a return on equity of 18.52% and a net margin of 11.45%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS. Analysts expect that W. R. Berkley Co. will post 4.79 earnings per share for the current fiscal year.
W. R. Berkley Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Monday, September 25th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Friday, September 22nd. W. R. Berkley’s payout ratio is 8.87%.
W. R. Berkley Profile
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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