Williams Jones & Associates LLC Has $422,000 Position in W.R. Berkley Corporation (WRB)
Williams Jones & Associates LLC maintained its stake in W.R. Berkley Corporation (NYSE:WRB) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,100 shares of the insurance provider’s stock at the close of the 2nd quarter. Williams Jones & Associates LLC’s holdings in W.R. Berkley Corporation were worth $422,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. NEXT Financial Group Inc raised its stake in W.R. Berkley Corporation by 243.9% during the 2nd quarter. NEXT Financial Group Inc now owns 1,809 shares of the insurance provider’s stock valued at $125,000 after buying an additional 1,283 shares during the last quarter. IFP Advisors Inc raised its stake in W.R. Berkley Corporation by 6.9% during the 2nd 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 last quarter. Parametrica Management Ltd purchased a new stake in W.R. Berkley Corporation during the 2nd quarter valued at $203,000. Aberdeen Asset Management PLC UK purchased a new stake in W.R. Berkley Corporation during the 1st quarter valued at $208,000. Finally, Advisor Partners LLC purchased a new stake in W.R. Berkley Corporation during the 2nd quarter valued at $213,000. Institutional investors and hedge funds own 71.18% of the company’s stock.
Shares of W.R. Berkley Corporation (WRB) opened at 67.90 on Friday. The stock has a market capitalization of $8.23 billion, a price-to-earnings ratio of 14.42 and a beta of 0.88. 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 $66.09 and its 200-day moving average is $68.14.
W.R. Berkley Corporation (NYSE:WRB) last posted its quarterly earnings results on Tuesday, July 25th. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.10). W.R. Berkley Corporation had a return on equity of 7.58% and a net margin of 7.86%. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the business posted $0.82 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. Analysts forecast that W.R. Berkley Corporation will post $3.05 earnings per share for the current fiscal year.
W.R. Berkley Corporation declared that its Board of Directors has initiated a stock buyback program on Tuesday, August 8th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, September 19th. This represents a $0.56 annualized dividend and a dividend yield of 0.83%. W.R. Berkley Corporation’s dividend payout ratio (DPR) is presently 11.84%.
A number of equities research analysts have weighed in on WRB shares. Zacks Investment Research upgraded shares of W.R. Berkley Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Morgan Stanley reiterated an “equal weight” rating and set a $70.00 target price (up 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. Buckingham Research started coverage on shares of W.R. Berkley Corporation in a research note on Monday, September 11th. They set a “neutral” rating and a $67.00 target price for the company. Finally, Keefe, Bruyette & Woods reiterated a “neutral” rating on shares of W.R. Berkley Corporation in a research note on Sunday, September 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $66.00.
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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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