Nationwide Fund Advisors increased its position in shares of W.R. Berkley Corporation (NYSE:WRB) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 164,692 shares of the insurance provider’s stock after acquiring an additional 2,724 shares during the quarter. Nationwide Fund Advisors owned about 0.14% of W.R. Berkley Corporation worth $11,392,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Liberty Mutual Group Asset Management Inc. lifted its stake in shares of W.R. Berkley Corporation by 4.9% during the first quarter. Liberty Mutual Group Asset Management Inc. now owns 43,401 shares of the insurance provider’s stock valued at $3,066,000 after acquiring an additional 2,008 shares during the period. World Asset Management Inc lifted its stake in shares of W.R. Berkley Corporation by 1.0% during the first quarter. World Asset Management Inc now owns 6,650 shares of the insurance provider’s stock valued at $470,000 after acquiring an additional 63 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of W.R. Berkley Corporation by 3.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 692,816 shares of the insurance provider’s stock valued at $47,923,000 after acquiring an additional 20,651 shares during the period. Swiss National Bank lifted its stake in shares of W.R. Berkley Corporation by 2.8% during the second quarter. Swiss National Bank now owns 353,748 shares of the insurance provider’s stock valued at $24,469,000 after acquiring an additional 9,600 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of W.R. Berkley Corporation by 3.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 365,905 shares of the insurance provider’s stock valued at $25,310,000 after acquiring an additional 12,711 shares during the period. 71.18% of the stock is currently owned by institutional investors and hedge funds.

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Shares of W.R. Berkley Corporation (NYSE WRB) opened at 65.33 on Monday. W.R. Berkley Corporation has a 52-week low of $55.55 and a 52-week high of $73.17. The stock’s 50 day moving average price is $66.79 and its 200-day moving average price is $68.57. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 13.87 and a beta of 0.88.

W.R. Berkley Corporation (NYSE:WRB) last released its quarterly 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). W.R. Berkley Corporation had a net margin of 7.86% and a return on equity of 7.58%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the firm posted $0.82 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts forecast that W.R. Berkley Corporation will post $2.98 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Tuesday, September 19th. W.R. Berkley Corporation’s dividend payout ratio is 11.84%.

W.R. Berkley Corporation declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 8th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Several equities analysts have weighed in on the company. Buckingham Research assumed coverage on W.R. Berkley Corporation in a research note on Monday, September 11th. They issued a “neutral” rating and a $67.00 target price on the stock. Keefe, Bruyette & Woods reissued a “neutral” rating on shares of W.R. Berkley Corporation in a research note on Sunday, September 3rd. Royal Bank Of Canada reissued a “hold” rating and issued a $72.00 target price on shares of W.R. Berkley Corporation in a research note on Tuesday, August 29th. BidaskClub lowered W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Finally, Zacks Investment Research lowered W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $67.14.

About W.R. Berkley Corporation

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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Institutional Ownership by Quarter for W.R. Berkley Corporation (NYSE:WRB)

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