W. R. Berkley Corp (NYSE:WRB) Shares Acquired by Keybank National Association OH

Keybank National Association OH grew its stake in W. R. Berkley Corp (NYSE:WRB) by 41.8% in the second quarter, Holdings Channel reports. The fund owned 20,825 shares of the insurance provider’s stock after purchasing an additional 6,134 shares during the period. Keybank National Association OH’s holdings in W. R. Berkley were worth $1,373,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of WRB. Jaffetilchin Investment Partners LLC purchased a new position in shares of W. R. Berkley during the 1st quarter worth $756,000. California Public Employees Retirement System grew its holdings in shares of W. R. Berkley by 14.5% during the 1st quarter. California Public Employees Retirement System now owns 642,315 shares of the insurance provider’s stock worth $54,417,000 after purchasing an additional 81,356 shares during the period. Commonwealth Bank of Australia grew its holdings in shares of W. R. Berkley by 2.2% during the 1st quarter. Commonwealth Bank of Australia now owns 18,852 shares of the insurance provider’s stock worth $1,593,000 after purchasing an additional 400 shares during the period. Princeton Global Asset Management LLC grew its holdings in shares of W. R. Berkley by 28.6% during the 1st quarter. Princeton Global Asset Management LLC now owns 3,150 shares of the insurance provider’s stock worth $266,000 after purchasing an additional 700 shares during the period. Finally, USS Investment Management Ltd grew its holdings in shares of W. R. Berkley by 37.0% during the 2nd quarter. USS Investment Management Ltd now owns 193,049 shares of the insurance provider’s stock worth $12,722,000 after purchasing an additional 52,149 shares during the period. 72.63% of the stock is owned by institutional investors and hedge funds.

In related 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 transaction of $5,128,970.00. Following the completion of the transaction, the director now directly owns 51,329 shares in the company, valued at approximately $3,419,024.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 21.70% of the company’s stock.

A number of research firms have recently weighed in on WRB. Zacks Investment Research upgraded W. R. Berkley from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a report on Saturday, July 27th. Boenning Scattergood reiterated a “hold” rating on shares of W. R. Berkley in a report on Wednesday, April 24th. Deutsche Bank cut W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 price target for the company. in a report on Wednesday, June 26th. Royal Bank of Canada increased their price target on W. R. Berkley to $68.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Finally, UBS Group increased their price target on W. R. Berkley from $53.00 to $56.00 and gave the stock a “sell” rating in a report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. W. R. Berkley has a consensus rating of “Hold” and an average price target of $65.40.

Shares of NYSE WRB traded up $1.22 during mid-day trading on Friday, reaching $72.23. 529,900 shares of the company’s stock were exchanged, compared to its average volume of 642,012. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.48 and a current ratio of 0.48. W. R. Berkley Corp has a 52-week low of $45.91 and a 52-week high of $72.62. The company’s 50-day moving average is $68.71 and its 200-day moving average is $69.96.

W. R. Berkley (NYSE:WRB) last released its quarterly earnings results on Tuesday, July 23rd. The insurance provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the business posted $1.40 EPS. The company’s revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts predict that W. R. Berkley Corp will post 2.86 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 19th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Wednesday, September 18th. W. R. Berkley’s dividend payout ratio (DPR) is 16.48%.

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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