W.R. Berkley Corporation (WRB) Stake Raised by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC boosted its stake in W.R. Berkley Corporation (NYSE:WRB) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,506 shares of the insurance provider’s stock after buying an additional 1,482 shares during the period. Janney Montgomery Scott LLC’s holdings in W.R. Berkley Corporation were worth $1,903,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of WRB. BlackRock Inc. raised its position in W.R. Berkley Corporation by 5,233.5% in the first quarter. BlackRock Inc. now owns 10,534,349 shares of the insurance provider’s stock valued at $744,042,000 after buying an additional 10,336,836 shares during the period. Vanguard Group Inc. raised its position in W.R. Berkley Corporation by 5.9% in the first quarter. Vanguard Group Inc. now owns 8,724,057 shares of the insurance provider’s stock valued at $616,181,000 after buying an additional 482,820 shares during the period. Janus Capital Management LLC raised its position in W.R. Berkley Corporation by 703.9% in the first quarter. Janus Capital Management LLC now owns 431,245 shares of the insurance provider’s stock valued at $30,459,000 after buying an additional 377,600 shares during the period. Bank of New York Mellon Corp raised its position in W.R. Berkley Corporation by 23.0% in the first quarter. Bank of New York Mellon Corp now owns 1,538,368 shares of the insurance provider’s stock valued at $108,656,000 after buying an additional 288,083 shares during the period. Finally, Russell Investments Group Ltd. raised its position in W.R. Berkley Corporation by 140.7% in the second quarter. Russell Investments Group Ltd. now owns 324,887 shares of the insurance provider’s stock valued at $22,475,000 after buying an additional 189,931 shares during the period. Hedge funds and other institutional investors own 72.00% of the company’s stock.
W.R. Berkley Corporation (WRB) opened at 68.14 on Tuesday. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 14.47 and a beta of 0.87. W.R. Berkley Corporation has a 52 week low of $55.55 and a 52 week high of $73.17. The firm’s 50-day moving average is $69.40 and its 200-day moving average is $69.10.
W.R. Berkley Corporation (NYSE:WRB) last issued its quarterly earnings results on Tuesday, July 25th. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by $0.10. W.R. Berkley Corporation had a return on equity of 7.67% and a net margin of 7.86%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The firm’s revenue was up .6% compared to the same quarter last year. On average, equities analysts anticipate that W.R. Berkley Corporation will post $2.94 earnings per share for the current year.
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WRB has been the subject of several recent analyst reports. Morgan Stanley reiterated an “equal weight” rating and set a $70.00 price objective (up previously from $68.00) on shares of W.R. Berkley Corporation in a research note on Friday, July 7th. BidaskClub upgraded shares of W.R. Berkley Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded shares of W.R. Berkley Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $67.00 price objective on shares of W.R. Berkley Corporation in a research note on Wednesday, May 17th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of W.R. Berkley Corporation in a research note on Wednesday, July 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $63.83.
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.
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