W.R. Berkley Corporation $WRB Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lowered its stake in W.R. Berkley Corporation (NYSE:WRB) by 9.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 81,828 shares of the insurance provider’s stock after selling 8,265 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in W.R. Berkley were worth $5,424,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Stoneridge Investment Partners LLC acquired a new position in W.R. Berkley in the 4th quarter valued at about $2,801,000. Generali Asset Management SPA SGR acquired a new stake in shares of W.R. Berkley during the 4th quarter worth about $1,630,000. Eagle Rock Investment Company LLC boosted its stake in shares of W.R. Berkley by 18.8% during the 4th quarter. Eagle Rock Investment Company LLC now owns 118,876 shares of the insurance provider’s stock worth $8,336,000 after purchasing an additional 18,820 shares during the last quarter. Citadel Investment Advisory Inc. grew its holdings in shares of W.R. Berkley by 105.4% during the fourth quarter. Citadel Investment Advisory Inc. now owns 29,693 shares of the insurance provider’s stock worth $2,082,000 after buying an additional 15,240 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in shares of W.R. Berkley in the fourth quarter valued at approximately $65,233,000. Institutional investors and hedge funds own 68.82% of the company’s stock.

Key W.R. Berkley News

Here are the key news stories impacting W.R. Berkley this week:

• Positive Sentiment: WRB is being highlighted as a top long-term momentum stock, with coverage pointing to strong style scores and market-beating characteristics that can support investor demand. Article Title
• Positive Sentiment: Analysts and market commentary are reacting favorably to W.R. Berkley’s Q2 results, with reports saying the earnings beat and ongoing share buybacks are reinforcing the bull case and leading some firms to raise price targets. Article Title
• Positive Sentiment: WRB is also being described as a strong value stock and a portfolio “ballast,” which may appeal to investors looking for quality, defensive exposure in property and casualty insurance. Article Title
• Neutral Sentiment: One report compares W.R. Berkley with Allstate on value metrics, which is more of a relative-stock-selection piece than a clear catalyst for the shares. Article Title
• Neutral Sentiment: Another article notes that W.R. Berkley’s baby bonds offer 7%+ yields at investment-grade risk, which supports the company’s credit profile but is unlikely to move the common stock materially on its own. Article Title
• Negative Sentiment: There is some caution in the analyst community, as one report says W.R. Berkley currently carries an average rating of “Reduce,” suggesting valuation or upside concerns remain. Article Title

Wall Street Analyst Weigh In

WRB has been the topic of several recent analyst reports. Bank of America reissued an “underperform” rating and set a $68.00 price objective (down from $74.00) on shares of W.R. Berkley in a research note on Thursday, July 16th. Morgan Stanley boosted their price target on W.R. Berkley from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Barclays reissued an “underweight” rating and set a $62.00 price target (down from $64.00) on shares of W.R. Berkley in a research note on Friday, June 12th. Wells Fargo & Company restated an “underweight” rating and set a $68.00 price objective (up from $67.00) on shares of W.R. Berkley in a report on Tuesday. Finally, Evercore reaffirmed an “underperform” rating and issued a $68.00 price objective on shares of W.R. Berkley in a research report on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $70.44.

W.R. Berkley Price Performance

W.R. Berkley stock opened at $75.48 on Friday. W.R. Berkley Corporation has a 1 year low of $62.87 and a 1 year high of $78.96. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a 50 day moving average price of $69.20 and a 200 day moving average price of $68.45. The company has a market cap of $28.10 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 3.51 and a beta of 0.29.

W.R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Monday, July 20th. The insurance provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.19. W.R. Berkley had a net margin of 12.94% and a return on equity of 19.49%. The company had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter last year, the firm posted $1.05 earnings per share. W.R. Berkley’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts predict that W.R. Berkley Corporation will post 4.75 earnings per share for the current year.

W.R. Berkley Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Tuesday, June 23rd were issued a $0.10 dividend. The ex-dividend date was Tuesday, June 23rd. This is an increase from W.R. Berkley’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. W.R. Berkley’s payout ratio is 8.21%.

W.R. Berkley Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.