W.R. Berkley Corp. (WRB) Shares Bought by Brown Advisory Inc.
Brown Advisory Inc. boosted its stake in shares of W.R. Berkley Corp. (NYSE:WRB) by 26.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,260 shares of the company’s stock after buying an additional 1,910 shares during the period. Brown Advisory Inc.’s holdings in W.R. Berkley Corp. were worth $555,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in WRB. Brightworth bought a new stake in shares of W.R. Berkley Corp. during the second quarter valued at approximately $213,000. Smith Salley & Associates bought a new stake in shares of W.R. Berkley Corp. during the second quarter valued at approximately $222,000. Glenmede Trust Co. NA increased its stake in shares of W.R. Berkley Corp. by 52.2% in the second quarter. Glenmede Trust Co. NA now owns 4,387 shares of the company’s stock valued at $262,000 after buying an additional 1,505 shares in the last quarter. Cutler Group LP increased its stake in shares of W.R. Berkley Corp. by 2.0% in the first quarter. Cutler Group LP now owns 5,068 shares of the company’s stock valued at $284,000 after buying an additional 100 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of W.R. Berkley Corp. during the second quarter valued at approximately $302,000. Institutional investors and hedge funds own 70.99% of the company’s stock.
Shares of W.R. Berkley Corp. (NYSE:WRB) opened at 57.76 on Friday. W.R. Berkley Corp. has a 52 week low of $47.54 and a 52 week high of $60.08. The stock has a market capitalization of $7.09 billion, a P/E ratio of 15.15 and a beta of 0.80. The company has a 50-day moving average price of $58.06 and a 200 day moving average price of $57.04.
W.R. Berkley Corp. (NYSE:WRB) last announced its quarterly earnings results on Monday, July 25th. The company reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. W.R. Berkley Corp. had a return on equity of 9.53% and a net margin of 6.69%. The company earned $1.56 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the company earned $0.81 EPS. W.R. Berkley Corp.’s revenue was up 4.5% compared to the same quarter last year. Analysts forecast that W.R. Berkley Corp. will post $3.41 earnings per share for the current fiscal year.
The business also recently disclosed a dividend, which will be paid on Wednesday, October 5th. Investors of record on Tuesday, September 20th will be issued a $0.63 dividend. This is an increase from W.R. Berkley Corp.’s previous dividend of $0.12. The ex-dividend date is Friday, September 16th. W.R. Berkley Corp.’s dividend payout ratio is presently 13.65%.
WRB has been the subject of several analyst reports. Credit Suisse Group AG set a $52.00 target price on W.R. Berkley Corp. and gave the company a “sell” rating in a report on Monday, September 12th. Zacks Investment Research raised W.R. Berkley Corp. from a “sell” rating to a “hold” rating in a report on Friday, August 19th. Royal Bank Of Canada upped their target price on W.R. Berkley Corp. from $57.00 to $61.00 and gave the company a “sector perform” rating in a report on Wednesday, July 13th. Finally, Compass Point upped their target price on W.R. Berkley Corp. from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $56.83.
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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