Gilder Gagnon Howe & Co. LLC decreased its stake in shares of W.R. Berkley Corporation (NYSE:WRB) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,125 shares of the insurance provider’s stock after selling 530 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in W.R. Berkley Corporation were worth $4,643,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WRB. BlackRock Inc. raised its stake 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 in the last quarter. Vanguard Group Inc. raised its stake 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 in the last quarter. Janus Capital Management LLC raised its stake 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 in the last quarter. Bank of New York Mellon Corp raised its stake 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 in the last quarter. Finally, Russell Investments Group Ltd. raised its stake 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 in the last quarter. 72.00% of the stock is currently owned by institutional investors and hedge funds.

W.R. Berkley Corporation (NYSE:WRB) opened at 68.39 on Thursday. The company’s 50-day moving average price is $69.21 and its 200-day moving average price is $69.13. W.R. Berkley Corporation has a 52 week low of $55.55 and a 52 week high of $73.17. The company has a market capitalization of $8.29 billion, a P/E ratio of 14.52 and a beta of 0.87.

W.R. Berkley Corporation (NYSE:WRB) last released its quarterly earnings results on Tuesday, July 25th. The insurance provider reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.10. W.R. Berkley Corporation had a net margin of 7.86% and a return on equity of 7.58%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the business earned $0.82 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts forecast that W.R. Berkley Corporation will post $2.94 EPS for the current fiscal year.

W.R. Berkley Corporation announced that its board has authorized a share buyback plan on Tuesday, August 8th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the insurance provider to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, September 19th. This represents a $0.56 dividend on an annualized basis and a yield of 0.82%. W.R. Berkley Corporation’s dividend payout ratio is 11.84%.

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A number of research analysts recently commented on WRB shares. 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 note on Friday, July 7th. BidaskClub upgraded W.R. Berkley Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded W.R. Berkley Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 30th. Keefe, Bruyette & Woods set a $67.00 price objective on W.R. Berkley Corporation and gave the stock a “hold” rating in a research note on Thursday, July 6th. Finally, Boenning Scattergood restated a “hold” rating on shares of W.R. Berkley Corporation in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. W.R. Berkley Corporation has an average rating of “Hold” and an average price target of $63.83.

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.

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

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