W.R. Berkley Corporation (WRB) Stake Lowered by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC cut its position in W.R. Berkley Corporation (NYSE:WRB) by 9.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,300 shares of the insurance provider’s stock after selling 6,100 shares during the period. Nisa Investment Advisors LLC’s holdings in W.R. Berkley Corporation were worth $4,170,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of WRB. LS Investment Advisors LLC raised its position in shares of W.R. Berkley Corporation by 11.3% in the second quarter. LS Investment Advisors LLC now owns 12,630 shares of the insurance provider’s stock valued at $874,000 after buying an additional 1,283 shares during the period. Crow Point Partners LLC purchased a new stake in W.R. Berkley Corporation during the second quarter valued at approximately $229,000. Oregon Public Employees Retirement Fund increased its stake in W.R. Berkley Corporation by 49.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 51,635 shares of the insurance provider’s stock valued at $3,572,000 after buying an additional 17,123 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in W.R. Berkley Corporation by 516.4% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 15,705 shares of the insurance provider’s stock valued at $1,086,000 after buying an additional 13,157 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in W.R. Berkley Corporation by 6.9% in the second quarter. State of Alaska Department of Revenue now owns 8,139 shares of the insurance provider’s stock valued at $562,000 after buying an additional 528 shares in the last quarter. 70.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of W.R. Berkley Corporation (WRB) traded down 0.44% during trading on Friday, hitting $67.31. The stock had a trading volume of 237,571 shares. W.R. Berkley Corporation has a 12 month low of $55.55 and a 12 month high of $73.17. The stock has a 50 day moving average of $69.09 and a 200 day moving average of $69.16. The company has a market cap of $8.16 billion, a PE ratio of 14.29 and a beta of 0.87.
W.R. Berkley Corporation (NYSE:WRB) last issued its earnings results on Tuesday, July 25th. The insurance provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by $0.10. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.61 billion. W.R. Berkley Corporation had a return on equity of 7.58% and a net margin of 7.86%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. Equities analysts forecast that W.R. Berkley Corporation will post $2.93 EPS for the current fiscal year.
W.R. Berkley Corporation announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 8th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be given a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $0.56 dividend on an annualized basis and a yield of 0.83%. W.R. Berkley Corporation’s dividend payout ratio (DPR) is presently 11.84%.
A number of brokerages have issued reports on WRB. BidaskClub upgraded W.R. Berkley Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised W.R. Berkley Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Morgan Stanley reaffirmed an “equal weight” rating and set a $70.00 price target (up previously from $68.00) on shares of W.R. Berkley Corporation in a research report on Friday, July 7th. Keefe, Bruyette & Woods set a $67.00 price objective on W.R. Berkley Corporation and gave the stock a “hold” rating in a report on Thursday, July 6th. Finally, Boenning Scattergood reissued a “hold” rating on shares of W.R. Berkley Corporation in a report on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $63.83.
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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