W.R. Berkley Corp. (WRB) Shares Sold by Butensky & Cohen Financial Security Inc.
Butensky & Cohen Financial Security Inc. lowered its position in W.R. Berkley Corp. (NYSE:WRB) by 0.9% during the second quarter, Holdings Channel reports. The fund owned 22,202 shares of the company’s stock after selling 205 shares during the period. Butensky & Cohen Financial Security Inc.’s holdings in W.R. Berkley Corp. were worth $1,330,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its stake in W.R. Berkley Corp. by 5.9% in the first quarter. BlackRock Fund Advisors now owns 4,159,966 shares of the company’s stock worth $233,790,000 after buying an additional 232,394 shares during the last quarter. State Street Corp increased its stake in W.R. Berkley Corp. by 1.9% in the first quarter. State Street Corp now owns 3,929,064 shares of the company’s stock worth $220,818,000 after buying an additional 74,823 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in W.R. Berkley Corp. by 0.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,428,343 shares of the company’s stock worth $192,673,000 after buying an additional 27,528 shares during the last quarter. Wellington Management Group LLP increased its stake in W.R. Berkley Corp. by 0.6% in the first quarter. Wellington Management Group LLP now owns 1,394,284 shares of the company’s stock worth $78,359,000 after buying an additional 8,124 shares during the last quarter. Finally, Norges Bank purchased a new stake in W.R. Berkley Corp. during the fourth quarter worth approximately $65,670,000. Institutional investors and hedge funds own 71.00% of the company’s stock.
W.R. Berkley Corp. (NYSE:WRB) traded up 1.46% during trading on Monday, reaching $57.14. 511,091 shares of the company’s stock were exchanged. W.R. Berkley Corp. has a 1-year low of $47.54 and a 1-year high of $60.08. The company’s 50-day moving average is $58.23 and its 200-day moving average is $56.77. The company has a market capitalization of $7.01 billion, a PE ratio of 14.99 and a beta of 0.80.
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, topping analysts’ consensus estimates of $0.77 by $0.05. W.R. Berkley Corp. had a net margin of 6.69% and a return on equity of 9.53%. The firm earned $1.56 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the business posted $0.81 EPS. The company’s revenue was up 4.5% on a year-over-year basis. Equities research analysts expect that W.R. Berkley Corp. will post $3.41 earnings per share 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 paid a $0.63 dividend. This is a positive change 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 (DPR) is currently 13.65%.
WRB has been the subject of a number of research reports. Zacks Investment Research raised shares of W.R. Berkley Corp. from a “sell” rating to a “hold” rating in a research report on Friday, August 19th. Royal Bank Of Canada upped their price target on shares of W.R. Berkley Corp. from $57.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 13th. Credit Suisse Group AG set a $52.00 price target on shares of W.R. Berkley Corp. and gave the stock a “sell” rating in a research report on Monday, September 12th. Finally, Compass Point upped their price target on shares of W.R. Berkley Corp. from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 26th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target 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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