Nisa Investment Advisors LLC Buys 2,000 Shares of W. R. Berkley Corp (WRB)
Nisa Investment Advisors LLC boosted its stake in shares of W. R. Berkley Corp (NYSE:WRB) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,400 shares of the insurance provider’s stock after purchasing an additional 2,000 shares during the quarter. Nisa Investment Advisors LLC’s holdings in W. R. Berkley were worth $4,748,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of WRB. Squar Milner Financial Services LLC purchased a new position in shares of W. R. Berkley in the 2nd quarter valued at about $114,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of W. R. Berkley by 75.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,701 shares of the insurance provider’s stock valued at $123,000 after acquiring an additional 729 shares during the last quarter. Natixis purchased a new position in shares of W. R. Berkley in the 1st quarter valued at about $205,000. Alps Advisors Inc. purchased a new position in shares of W. R. Berkley in the 2nd quarter valued at about $207,000. Finally, Gifford Fong Associates purchased a new position in shares of W. R. Berkley in the 2nd quarter valued at about $217,000. Institutional investors own 72.65% of the company’s stock.
A number of research analysts have recently commented on WRB shares. Zacks Investment Research upgraded W. R. Berkley from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Thursday, September 27th. Credit Suisse Group started coverage on W. R. Berkley in a report on Tuesday, August 7th. They issued a “neutral” rating and a $78.00 price objective on the stock. Boenning Scattergood reiterated a “hold” rating on shares of W. R. Berkley in a report on Wednesday, July 25th. Finally, ValuEngine upgraded W. R. Berkley from a “hold” rating to a “buy” rating in a report on Wednesday, July 11th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $73.57.
W. R. Berkley (NYSE:WRB) last released its quarterly earnings results on Tuesday, July 24th. The insurance provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.15. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.58 billion. W. R. Berkley had a return on equity of 7.25% and a net margin of 8.54%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. On average, research analysts expect that W. R. Berkley Corp will post 3.72 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 3rd. Investors of record on Wednesday, September 19th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, September 18th. This represents a $0.60 dividend on an annualized basis and a yield of 0.82%. W. R. Berkley’s dividend payout ratio is presently 24.39%.
W. R. Berkley Company Profile
W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.
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