Fort Washington Investment Advisors Inc. OH trimmed its holdings in shares of W.R. Berkley Corporation (NYSE:WRB) by 6.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 16,960 shares of the insurance provider’s stock after selling 1,075 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in W.R. Berkley Corporation were worth $1,173,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. NEXT Financial Group Inc lifted its holdings in shares of W.R. Berkley Corporation by 243.9% during the 2nd quarter. NEXT Financial Group Inc now owns 1,809 shares of the insurance provider’s stock worth $125,000 after acquiring an additional 1,283 shares during the period. IFP Advisors Inc lifted its holdings in shares of W.R. Berkley Corporation by 6.9% during the 2nd quarter. IFP Advisors Inc now owns 2,207 shares of the insurance provider’s stock worth $153,000 after acquiring an additional 143 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of W.R. Berkley Corporation by 17.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,700 shares of the insurance provider’s stock worth $191,000 after acquiring an additional 400 shares during the period. Parametrica Management Ltd bought a new position in shares of W.R. Berkley Corporation during the 2nd quarter worth about $203,000. Finally, Aberdeen Asset Management PLC UK bought a new position in shares of W.R. Berkley Corporation during the 1st quarter worth about $208,000. 71.18% of the stock is owned by institutional investors.
WRB has been the subject of a number of analyst reports. BidaskClub raised shares of W.R. Berkley Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Morgan Stanley reaffirmed an “equal weight” rating and set a $70.00 price objective (up from $68.00) on shares of W.R. Berkley Corporation in a report on Friday, July 7th. Boenning Scattergood reiterated a “hold” rating on shares of W.R. Berkley Corporation in a research report on Wednesday, July 26th. Zacks Investment Research upgraded shares of W.R. Berkley Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, Keefe, Bruyette & Woods set a $67.00 target price on shares of W.R. Berkley Corporation and gave the stock a “hold” rating in a research report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. W.R. Berkley Corporation currently has an average rating of “Hold” and a consensus target price of $67.14.
Shares of W.R. Berkley Corporation (NYSE WRB) opened at 65.50 on Friday. The company’s 50 day moving average is $67.02 and its 200-day moving average is $68.70. W.R. Berkley Corporation has a 12 month low of $55.55 and a 12 month high of $73.17. The firm has a market cap of $7.94 billion, a PE ratio of 13.91 and a beta of 0.88.
W.R. Berkley Corporation (NYSE:WRB) last posted its quarterly earnings data on Tuesday, July 25th. The insurance provider reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.10). W.R. Berkley Corporation had a return on equity of 7.58% and a net margin of 7.86%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the company earned $0.82 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts predict that W.R. Berkley Corporation will post $2.96 EPS for the current year.
W.R. Berkley Corporation announced that its board has authorized a stock buyback program on Tuesday, August 8th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the insurance provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, September 19th. This represents a $0.56 annualized dividend and a yield of 0.85%. W.R. Berkley Corporation’s dividend payout ratio is 11.84%.
W.R. Berkley Corporation Company Profile
W. R. Berkley Corporation is an insurance holding company. It operates through two segments: Insurance and Reinsurance-Global. The Insurance segment consists of its commercial insurance business operations, comprising excess and surplus lines, and admitted lines, throughout the United States, as well as its insurance business operations in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.
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