W.R. Berkley Corp. (WRB) Position Maintained by Bridgeway Capital Management Inc.
Bridgeway Capital Management Inc. continued to hold its stake in shares of W.R. Berkley Corp. (NYSE:WRB) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 434,700 shares of the company’s stock at the end of the second quarter. Bridgeway Capital Management Inc. owned about 0.35% of W.R. Berkley Corp. worth $26,047,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the company. Atlanta Capital Management Co. L L C acquired a new stake in shares of W.R. Berkley Corp. during the second quarter worth about $126,946,000. Victory Capital Management Inc. raised its stake in shares of W.R. Berkley Corp. by 112.7% in the second quarter. Victory Capital Management Inc. now owns 1,474,402 shares of the company’s stock worth $88,347,000 after buying an additional 781,179 shares during the last quarter. PGGM Investments raised its stake in shares of W.R. Berkley Corp. by 181.2% in the second quarter. PGGM Investments now owns 604,299 shares of the company’s stock worth $36,210,000 after buying an additional 389,421 shares during the last quarter. Eaton Vance Management acquired a new stake in shares of W.R. Berkley Corp. during the second quarter worth about $22,672,000. Finally, BlackRock Fund Advisors raised its stake in shares of W.R. Berkley Corp. by 8.3% in the second quarter. BlackRock Fund Advisors now owns 4,506,370 shares of the company’s stock worth $270,022,000 after buying an additional 346,404 shares during the last quarter. 70.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of W.R. Berkley Corp. (NYSE:WRB) traded up 2.34% during trading on Friday, reaching $58.65. The company’s stock had a trading volume of 736,113 shares. The company’s 50-day moving average price is $57.26 and its 200 day moving average price is $57.39. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of 13.49 and a beta of 0.67. W.R. Berkley Corp. has a 1-year low of $47.54 and a 1-year high of $60.08.
W.R. Berkley Corp. (NYSE:WRB) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.03. The firm earned $2.02 billion during the quarter, compared to analysts’ expectations of $1.89 billion. W.R. Berkley Corp. had a net margin of 7.46% and a return on equity of 9.28%. W.R. Berkley Corp.’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. Analysts anticipate that W.R. Berkley Corp. will post $3.45 EPS for the current year.
The company also recently declared a dividend, which will be paid on Monday, November 21st. Shareholders of record on Monday, November 14th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, November 9th. W.R. Berkley Corp.’s dividend payout ratio (DPR) is 11.95%.
Several analysts recently weighed in on the company. Credit Suisse Group AG set a $52.00 price objective on W.R. Berkley Corp. and gave the company a “sell” rating in a report on Monday, September 12th. Zacks Investment Research raised W.R. Berkley Corp. from a “sell” rating to a “hold” rating in a report on Friday, August 19th. Compass Point boosted their price objective on W.R. Berkley Corp. from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, July 26th. Finally, Deutsche Bank AG boosted their price objective on W.R. Berkley Corp. from $55.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, October 26th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $58.17.
About W.R. Berkley Corp.
W. R. Berkley Corporation is an insurance holding company. The Company operates in the three segments of the property casualty insurance business: Insurance-Domestic, Insurance-International and Reinsurance-Global. Its Insurance-Domestic segment includes commercial insurance business, including excess and surplus lines and admitted lines, primarily throughout the United States.
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