Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 11 Shares of W.R. Berkley Corporation (WRB)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its position in W.R. Berkley Corporation (NYSE:WRB) by 0.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,154 shares of the insurance provider’s stock after selling 11 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in W.R. Berkley Corporation were worth $979,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of WRB. NEXT Financial Group Inc lifted its stake in W.R. Berkley Corporation by 243.9% in the second 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 last quarter. IFP Advisors Inc lifted its stake in W.R. Berkley Corporation by 6.9% in the second 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 last quarter. Daiwa Securities Group Inc. lifted its stake in W.R. Berkley Corporation by 17.4% in the first 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 last quarter. Parametrica Management Ltd purchased a new position in W.R. Berkley Corporation in the second quarter worth approximately $203,000. Finally, Aberdeen Asset Management PLC UK purchased a new position in W.R. Berkley Corporation in the first quarter worth approximately $208,000. Institutional investors own 71.18% of the company’s stock.
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Shares of W.R. Berkley Corporation (NYSE:WRB) opened at 65.95 on Wednesday. The stock has a market cap of $8.00 billion, a P/E ratio of 14.00 and a beta of 0.88. The stock’s 50 day moving average is $67.54 and its 200 day moving average is $68.82. W.R. Berkley Corporation has a 12 month low of $55.55 and a 12 month high of $73.17.
W.R. Berkley Corporation (NYSE:WRB) last released its earnings results on Tuesday, July 25th. The insurance provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.10). The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.61 billion. W.R. Berkley Corporation had a net margin of 7.86% and a return on equity of 7.58%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 earnings per share. Analysts predict that W.R. Berkley Corporation will post $2.92 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Tuesday, September 19th. W.R. Berkley Corporation’s dividend payout ratio (DPR) is currently 11.84%.
W.R. Berkley Corporation declared that its board has approved a stock buyback plan on Tuesday, August 8th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the insurance provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
A number of research analysts recently issued reports on WRB shares. Zacks Investment Research upgraded shares of W.R. Berkley Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Morgan Stanley reiterated an “equal weight” rating and issued a $70.00 price target (up previously from $68.00) on shares of W.R. Berkley Corporation in a research note on Friday, July 7th. BidaskClub upgraded shares of W.R. Berkley Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Boenning Scattergood reiterated a “hold” rating on shares of W.R. Berkley Corporation in a research note on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods set a $67.00 price target on shares of W.R. Berkley Corporation and gave the stock a “hold” rating in a research note on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. W.R. Berkley Corporation has a consensus rating of “Hold” and a consensus price target of $67.14.
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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