Fiduciary Management Inc. WI cut its position in shares of W.R. Berkley Corporation (NYSE:WRB) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,060,924 shares of the insurance provider’s stock after selling 852 shares during the period. Fiduciary Management Inc. WI owned 0.87% of W.R. Berkley Corporation worth $73,384,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. World Asset Management Inc raised its position in W.R. Berkley Corporation by 0.6% during the second quarter. World Asset Management Inc now owns 6,689 shares of the insurance provider’s stock worth $463,000 after acquiring an additional 39 shares during the period. Municipal Employees Retirement System of Michigan raised its position in W.R. Berkley Corporation by 0.3% during the first quarter. Municipal Employees Retirement System of Michigan now owns 45,000 shares of the insurance provider’s stock worth $3,178,000 after acquiring an additional 130 shares during the period. Burney Co. raised its position in W.R. Berkley Corporation by 0.3% during the second quarter. Burney Co. now owns 41,928 shares of the insurance provider’s stock worth $2,902,000 after acquiring an additional 132 shares during the period. US Bancorp DE raised its position in W.R. Berkley Corporation by 1.9% during the second quarter. US Bancorp DE now owns 7,167 shares of the insurance provider’s stock worth $495,000 after acquiring an additional 137 shares during the period. Finally, IFP Advisors Inc raised its position in W.R. Berkley Corporation by 6.9% during the second quarter. IFP Advisors Inc now owns 2,207 shares of the insurance provider’s stock worth $153,000 after acquiring an additional 143 shares during the period. 71.18% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This story was originally posted by Daily Political and is owned by of Daily Political. If you are accessing this story on another site, it was stolen and republished in violation of U.S. & international copyright legislation. The legal version of this story can be read at https://www.dailypolitical.com/2017/09/16/w-r-berkley-corporation-wrb-position-cut-by-fiduciary-management-inc-wi.html.

A number of equities analysts have weighed in on the stock. Morgan Stanley restated an “equal weight” rating and set a $70.00 price objective (up from $68.00) on shares of W.R. Berkley Corporation in a research report on Friday, July 7th. Keefe, Bruyette & Woods set a $67.00 price objective on shares of W.R. Berkley Corporation and gave the stock a “hold” rating in a research report on Thursday, July 6th. BidaskClub cut shares of W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut shares of W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $72.00 price objective on shares of W.R. Berkley Corporation in a research report on Tuesday, August 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $67.14.

Shares of W.R. Berkley Corporation (NYSE:WRB) traded up 0.15% during midday trading on Friday, hitting $65.50. 825,899 shares of the stock were exchanged. The firm has a 50-day moving average price of $67.02 and a 200 day moving average price of $68.70. W.R. Berkley Corporation has a 12-month low of $55.55 and a 12-month high of $73.17. The firm has a market cap of $7.94 billion, a PE ratio of 13.91 and a beta of 0.88.

W.R. Berkley Corporation (NYSE:WRB) last issued its earnings results on Tuesday, July 25th. The insurance provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.10). The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.61 billion. W.R. Berkley Corporation had a return on equity of 7.58% and a net margin of 7.86%. W.R. Berkley Corporation’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. Analysts predict that W.R. Berkley Corporation will post $2.96 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Tuesday, September 19th. W.R. Berkley Corporation’s dividend payout ratio (DPR) is presently 11.84%.

W.R. Berkley Corporation declared that its board has initiated a stock repurchase program on Tuesday, August 8th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

About W.R. Berkley Corporation

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.

Want to see what other hedge funds are holding WRB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for W.R. Berkley Corporation (NYSE:WRB).

Institutional Ownership by Quarter for W.R. Berkley Corporation (NYSE:WRB)

Receive News & Ratings for W.R. Berkley Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W.R. Berkley Corporation and related companies with MarketBeat.com's FREE daily email newsletter.