Comerica Bank trimmed its stake in shares of W.R. Berkley Corporation (NYSE:WRB) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 75,554 shares of the insurance provider’s stock after selling 967 shares during the quarter. Comerica Bank owned 0.06% of W.R. Berkley Corporation worth $5,194,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Massey Quick Simon & CO. LLC bought a new stake in shares of W.R. Berkley Corporation during the 3rd quarter valued at $175,000. Toronto Dominion Bank raised its stake in shares of W.R. Berkley Corporation by 243.6% during the 3rd quarter. Toronto Dominion Bank now owns 4,096 shares of the insurance provider’s stock valued at $273,000 after purchasing an additional 2,904 shares during the period. New York State Common Retirement Fund raised its stake in shares of W.R. Berkley Corporation by 2.9% during the 3rd quarter. New York State Common Retirement Fund now owns 499,800 shares of the insurance provider’s stock valued at $33,357,000 after purchasing an additional 14,000 shares during the period. First Eagle Investment Management LLC raised its stake in shares of W.R. Berkley Corporation by 2.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 6,939,857 shares of the insurance provider’s stock valued at $463,166,000 after purchasing an additional 176,869 shares during the period. Finally, YHB Investment Advisors Inc. raised its stake in shares of W.R. Berkley Corporation by 88.3% during the 3rd quarter. YHB Investment Advisors Inc. now owns 35,389 shares of the insurance provider’s stock valued at $2,362,000 after purchasing an additional 16,600 shares during the period. Institutional investors own 69.80% of the company’s stock.

W.R. Berkley Corporation (WRB) opened at $66.42 on Thursday. W.R. Berkley Corporation has a 52-week low of $61.21 and a 52-week high of $73.17. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.34 and a current ratio of 0.34. The company has a market capitalization of $8,160.25, a PE ratio of 26.48, a P/E/G ratio of 3.06 and a beta of 0.92.

W.R. Berkley Corporation declared that its board has initiated a share repurchase program on Tuesday, August 8th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the insurance provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Wednesday, November 29th. W.R. Berkley Corporation’s payout ratio is currently 13.11%.

A number of analysts recently issued reports on the company. BidaskClub lowered W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. UBS Group AG boosted their target price on W.R. Berkley Corporation from $63.00 to $66.00 and gave the stock a “sell” rating in a research report on Wednesday, October 25th. Boenning Scattergood restated a “hold” rating on shares of W.R. Berkley Corporation in a research report on Wednesday, October 25th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $72.00 target price on shares of W.R. Berkley Corporation in a research report on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $69.14.

TRADEMARK VIOLATION WARNING: This news story was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2017/11/23/comerica-bank-lowers-holdings-in-w-r-berkley-corporation-wrb.html.

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.

Want to see what other hedge funds are holding WRB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for W.R. Berkley Corporation (NYSE:WRB).

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

Receive News & Stock Ratings for W.R. Berkley Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W.R. Berkley Corporation and related stocks with our FREE daily email newsletter.