CI Global Investments Inc. raised its holdings in W. R. Berkley Corp (NYSE:WRB) by 1,058.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,908 shares of the insurance provider’s stock after buying an additional 2,657 shares during the quarter. CI Global Investments Inc.’s holdings in W. R. Berkley were worth $232,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its stake in W. R. Berkley by 2.3% in the third quarter. BlackRock Inc. now owns 10,716,398 shares of the insurance provider’s stock valued at $856,561,000 after buying an additional 236,781 shares during the last quarter. Victory Capital Management Inc. raised its stake in W. R. Berkley by 1.8% in the second quarter. Victory Capital Management Inc. now owns 3,894,895 shares of the insurance provider’s stock valued at $282,030,000 after buying an additional 70,693 shares during the last quarter. Janus Henderson Group PLC raised its stake in W. R. Berkley by 13.4% in the third quarter. Janus Henderson Group PLC now owns 3,797,943 shares of the insurance provider’s stock valued at $303,569,000 after buying an additional 448,923 shares during the last quarter. Boston Partners increased its holdings in shares of W. R. Berkley by 1.9% in the second quarter. Boston Partners now owns 3,566,823 shares of the insurance provider’s stock valued at $258,274,000 after purchasing an additional 66,385 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of W. R. Berkley by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 2,156,888 shares of the insurance provider’s stock valued at $172,400,000 after purchasing an additional 77,478 shares during the period. Institutional investors own 74.23% of the company’s stock.
Shares of WRB stock opened at $77.98 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $9.56 billion, a PE ratio of 31.70, a PEG ratio of 2.16 and a beta of 0.83. W. R. Berkley Corp has a fifty-two week low of $65.92 and a fifty-two week high of $80.68.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 28th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 27th. W. R. Berkley’s dividend payout ratio is presently 24.39%.
A number of brokerages have recently weighed in on WRB. Credit Suisse Group began coverage on W. R. Berkley in a report on Tuesday, August 7th. They issued a “neutral” rating and a $78.00 price objective on the stock. Zacks Investment Research lowered W. R. Berkley from a “hold” rating to a “sell” rating in a report on Saturday, October 13th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $78.50.
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W. R. Berkley Company Profile
W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.
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