Tyers Asset Management LLC boosted its position in shares of W. R. Berkley Corp (NYSE:WRB) by 49.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,220 shares of the insurance provider’s stock after purchasing an additional 8,064 shares during the period. Tyers Asset Management LLC’s holdings in W. R. Berkley were worth $1,597,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Krane Funds Advisors LLC bought a new position in shares of W. R. Berkley during the second quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC purchased a new position in W. R. Berkley during the 2nd quarter valued at $27,000. Hanson McClain Inc. grew its position in W. R. Berkley by 50.0% in the 2nd quarter. Hanson McClain Inc. now owns 525 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 175 shares during the last quarter. Johnson Financial Group Inc. increased its stake in W. R. Berkley by 49.9% in the second quarter. Johnson Financial Group Inc. now owns 553 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 184 shares during the period. Finally, Asset Dedication LLC increased its stake in W. R. Berkley by 49.9% in the second quarter. Asset Dedication LLC now owns 571 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 190 shares during the period. 70.69% of the stock is currently owned by institutional investors.
In other W. R. Berkley news, Director Mark Ellwood Brockbank sold 77,000 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $66.61, for a total value of $5,128,970.00. Following the completion of 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 filing with the SEC, which is available through this hyperlink. Company insiders own 21.70% of the company’s stock.
W. R. Berkley (NYSE:WRB) last posted its quarterly earnings data on Tuesday, July 23rd. The insurance provider reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.18. W. R. Berkley had a return on equity of 10.55% and a net margin of 8.81%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the firm earned $1.40 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Equities analysts anticipate that W. R. Berkley Corp will post 2.86 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 19th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Wednesday, September 18th. W. R. Berkley’s dividend payout ratio (DPR) is presently 16.48%.
A number of analysts have recently issued reports on WRB shares. Morgan Stanley boosted their target price 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 increased their price objective on W. R. Berkley to $68.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Zacks Investment Research raised shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Saturday, July 27th. Finally, Deutsche Bank lowered shares of W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 price target for the company. in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $65.40.
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 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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