Great Lakes Advisors LLC grew its stake in shares of W. R. Berkley Co. (NYSE:WRB) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,888 shares of the insurance provider’s stock after acquiring an additional 1,407 shares during the period. Great Lakes Advisors LLC’s holdings in W. R. Berkley were worth $3,490,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in WRB. Quadrant Capital Group LLC increased its stake in W. R. Berkley by 174.2% in the 1st quarter. Quadrant Capital Group LLC now owns 595 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 378 shares in the last quarter. Capital Analysts LLC acquired a new position in shares of W. R. Berkley during the 2nd quarter worth $45,000. Deseret Mutual Benefit Administrators purchased a new stake in shares of W. R. Berkley in the second quarter valued at about $66,000. Sullivan Bruyette Speros & Blaney LLC purchased a new stake in W. R. Berkley in the 1st quarter valued at approximately $107,000. Finally, Guardian Wealth Advisors LLC purchased a new stake in shares of W. R. Berkley in the first quarter valued at $107,000. 68.24% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on WRB. Bank of America raised shares of W. R. Berkley from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $80.00 to $86.00 in a research note on Thursday, August 19th. They noted that the move was a valuation call. Boenning Scattergood upgraded W. R. Berkley from a “neutral” rating to an “outperform” rating and set a $87.00 price objective on the stock in a report on Monday, September 20th. Zacks Investment Research lowered W. R. Berkley from a “buy” rating to a “hold” rating and set a $76.00 target price for the company. in a research note on Tuesday. Royal Bank of Canada reduced their target price on W. R. Berkley from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Friday, July 23rd. Finally, Wolfe Research began coverage on W. R. Berkley in a report on Monday, August 16th. They issued a “market perform” rating and a $76.00 price target for the company. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $81.55.
W. R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Wednesday, July 21st. The insurance provider reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.17. W. R. Berkley had a net margin of 10.57% and a return on equity of 11.27%. The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the firm posted $0.38 earnings per share. W. R. Berkley’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, equities research analysts expect that W. R. Berkley Co. will post 4.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Investors of record on Wednesday, September 15th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $0.52 annualized dividend and a dividend yield of 0.71%. W. R. Berkley’s payout ratio is 22.41%.
W. R. Berkley Company Profile
W.R. Berkley Corp. is an insurance holding company, which engages in the property casualty insurance business. It operates through the following segments: Insurance and Reinsurance & Monoline Excess. The Insurance segment includes excess and surplus lines, admitted lines, and specialty personal lines throughout the United States, as well as insurance business in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.
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