W.R. Berkley Corporation (WRB) Holdings Raised by New York State Common Retirement Fund
New York State Common Retirement Fund raised its position in shares of W.R. Berkley Corporation (NYSE:WRB) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 499,800 shares of the insurance provider’s stock after acquiring an additional 14,000 shares during the period. New York State Common Retirement Fund owned approximately 0.41% of W.R. Berkley worth $33,357,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in WRB. Tower Research Capital LLC TRC boosted its holdings in W.R. Berkley by 683.0% during the second quarter. Tower Research Capital LLC TRC now owns 1,566 shares of the insurance provider’s stock valued at $108,000 after acquiring an additional 1,366 shares during the period. IFP Advisors Inc lifted its stake in shares of W.R. Berkley by 6.9% in the second quarter. IFP Advisors Inc now owns 2,207 shares of the insurance provider’s stock valued at $153,000 after buying an additional 143 shares during the period. Advisor Partners LLC bought a new stake in shares of W.R. Berkley in the second quarter valued at about $213,000. Advisor Group Inc. lifted its stake in shares of W.R. Berkley by 50.7% in the second quarter. Advisor Group Inc. now owns 3,370 shares of the insurance provider’s stock valued at $233,000 after buying an additional 1,134 shares during the period. Finally, Crow Point Partners LLC lifted its stake in shares of W.R. Berkley by 40.0% in the third quarter. Crow Point Partners LLC now owns 4,630 shares of the insurance provider’s stock valued at $309,000 after buying an additional 1,323 shares during the period. Institutional investors own 71.01% of the company’s stock.
Several equities research analysts recently weighed in on WRB shares. Royal Bank Of Canada reiterated a “hold” rating and issued a $72.00 target price on shares of W.R. Berkley in a research note on Tuesday, August 29th. Keefe, Bruyette & Woods reiterated a “neutral” rating on shares of W.R. Berkley in a research note on Sunday, September 3rd. Buckingham Research started coverage on shares of W.R. Berkley in a research note on Monday, September 11th. They issued a “neutral” rating and a $67.00 target price for the company. Zacks Investment Research upgraded shares of W.R. Berkley from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, UBS increased their target price on shares of W.R. Berkley from $63.00 to $66.00 and gave the company a “sell” rating in a research note on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $69.14.
W.R. Berkley Corporation (WRB) traded up $0.51 during midday trading on Friday, hitting $70.40. 397,157 shares of the company traded hands, compared to its average volume of 442,769. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.45. W.R. Berkley Corporation has a twelve month low of $62.00 and a twelve month high of $73.17. The company has a market capitalization of $8,509.80, a PE ratio of 27.62, a PEG ratio of 3.19 and a beta of 0.92.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Wednesday, November 29th. W.R. Berkley’s dividend payout ratio is 13.11%.
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About W.R. Berkley
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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