Pacer Advisors Inc. Acquires New Holdings in W. R. Berkley Corp (NYSE:WRB)

Pacer Advisors Inc. acquired a new stake in shares of W. R. Berkley Corp (NYSE:WRB) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 57,522 shares of the insurance provider’s stock, valued at approximately $3,792,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WRB. Janus Henderson Group PLC grew its holdings in W. R. Berkley by 51.4% during the second quarter. Janus Henderson Group PLC now owns 7,106,715 shares of the insurance provider’s stock valued at $468,545,000 after purchasing an additional 2,412,693 shares during the period. JPMorgan Chase & Co. lifted its stake in W. R. Berkley by 48.3% in the second quarter. JPMorgan Chase & Co. now owns 2,667,125 shares of the insurance provider’s stock valued at $173,524,000 after buying an additional 868,747 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in W. R. Berkley by 53.5% in the second quarter. Bank of New York Mellon Corp now owns 1,772,861 shares of the insurance provider’s stock valued at $116,884,000 after buying an additional 618,052 shares in the last quarter. Swiss National Bank lifted its stake in W. R. Berkley by 46.3% in the second quarter. Swiss National Bank now owns 1,040,714 shares of the insurance provider’s stock valued at $68,614,000 after buying an additional 329,371 shares in the last quarter. Finally, TD Asset Management Inc. lifted its stake in W. R. Berkley by 55.1% in the second quarter. TD Asset Management Inc. now owns 821,832 shares of the insurance provider’s stock valued at $54,183,000 after buying an additional 291,869 shares in the last quarter. Hedge funds and other institutional investors own 61.37% of the company’s stock.

Shares of WRB stock traded up $0.29 during trading on Friday, reaching $72.22. The company’s stock had a trading volume of 580,997 shares, compared to its average volume of 559,398. The business has a fifty day moving average price of $70.61 and a 200-day moving average price of $69.26. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.46. The company has a market cap of $13.17 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 2.79 and a beta of 0.69. W. R. Berkley Corp has a one year low of $45.91 and a one year high of $73.26.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Tuesday, July 23rd. The insurance provider reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.18. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. W. R. Berkley had a net margin of 8.81% and a return on equity of 10.55%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 earnings per share. Research analysts anticipate that W. R. Berkley Corp will post 2.86 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 19th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Wednesday, September 18th. W. R. Berkley’s dividend payout ratio is presently 16.48%.

A number of brokerages have weighed in on WRB. Morgan Stanley lifted their price target on shares of W. R. Berkley from $63.00 to $73.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 14th. Royal Bank of Canada lifted their price target on shares of W. R. Berkley to $68.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Deutsche Bank lowered shares of W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 price target on the stock. in a research note on Wednesday, June 26th. Finally, Zacks Investment Research raised shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Saturday, July 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $65.40.

In other news, Director Mark Ellwood Brockbank sold 77,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $66.61, for a total value of $5,128,970.00. Following the sale, the director now owns 51,329 shares of the company’s stock, valued at $3,419,024.69. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 21.70% of the company’s stock.

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

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