Teacher Retirement System of Texas Has $3,586,000 Stake in W.R. Berkley Corp. (WRB)
Teacher Retirement System of Texas increased its stake in W.R. Berkley Corp. (NYSE:WRB) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,845 shares of the company’s stock after buying an additional 1,671 shares during the period. Teacher Retirement System of Texas’ holdings in W.R. Berkley Corp. were worth $3,586,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of W.R. Berkley Corp. during the fourth quarter valued at approximately $65,670,000. Victory Capital Management Inc. increased its position in shares of W.R. Berkley Corp. by 112.7% in the second quarter. Victory Capital Management Inc. now owns 1,474,402 shares of the company’s stock valued at $88,347,000 after buying an additional 781,179 shares in the last quarter. PGGM Investments increased its position in shares of W.R. Berkley Corp. by 181.2% in the second quarter. PGGM Investments now owns 604,299 shares of the company’s stock valued at $36,210,000 after buying an additional 389,421 shares in the last quarter. Eaton Vance Management bought a new position in shares of W.R. Berkley Corp. during the second quarter valued at approximately $22,672,000. Finally, Renaissance Technologies LLC increased its position in shares of W.R. Berkley Corp. by 489.1% in the first quarter. Renaissance Technologies LLC now owns 410,000 shares of the company’s stock valued at $23,042,000 after buying an additional 340,400 shares in the last quarter. Institutional investors and hedge funds own 71.00% of the company’s stock.
Shares of W.R. Berkley Corp. (NYSE:WRB) traded up 0.61% during trading on Tuesday, hitting $57.49. The company had a trading volume of 133,860 shares. The stock has a market capitalization of $7.06 billion, a P/E ratio of 15.08 and a beta of 0.80. W.R. Berkley Corp. has a 52 week low of $47.54 and a 52 week high of $60.08. The firm’s 50 day moving average is $58.23 and its 200-day moving average is $56.77.
W.R. Berkley Corp. (NYSE:WRB) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company earned $1.56 billion during the quarter, compared to analysts’ expectations of $1.96 billion. W.R. Berkley Corp. had a return on equity of 9.53% and a net margin of 6.69%. W.R. Berkley Corp.’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 earnings per share. Equities research analysts anticipate that W.R. Berkley Corp. will post $3.41 EPS for the current fiscal year.
The company also recently disclosed a dividend, which will be paid on Wednesday, October 5th. Investors of record on Tuesday, September 20th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, September 16th. This is a boost from W.R. Berkley Corp.’s previous dividend of $0.12. W.R. Berkley Corp.’s dividend payout ratio is 13.65%.
Several research analysts have commented on WRB shares. Credit Suisse Group AG set a $52.00 target price on W.R. Berkley Corp. and gave the stock a “sell” rating in a research note on Monday, September 12th. Zacks Investment Research upgraded W.R. Berkley Corp. from a “sell” rating to a “hold” rating in a research note on Friday, August 19th. Royal Bank Of Canada raised their target price on W.R. Berkley Corp. from $57.00 to $61.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 13th. Finally, Compass Point raised their target price on W.R. Berkley Corp. from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 26th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $56.33.
About W.R. Berkley Corp.
W. R. Berkley Corporation is an insurance holding company. The Company operates in the three segments of the property casualty insurance business: Insurance-Domestic, Insurance-International and Reinsurance-Global. Its Insurance-Domestic segment includes commercial insurance business, including excess and surplus lines and admitted lines, primarily throughout the United States.
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