Xact Kapitalforvaltning AB Takes Position in W. R. Berkley Corp (NYSE:WRB)
Xact Kapitalforvaltning AB bought a new stake in shares of W. R. Berkley Corp (NYSE:WRB) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,858 shares of the insurance provider’s stock, valued at approximately $750,000.
Several other hedge funds and other institutional investors have also made changes to their positions in WRB. Vanguard Group Inc boosted its holdings in shares of W. R. Berkley by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 9,227,226 shares of the insurance provider’s stock valued at $737,533,000 after acquiring an additional 107,591 shares in the last quarter. Creative Planning boosted its holdings in shares of W. R. Berkley by 18.4% during the 4th quarter. Creative Planning now owns 9,581 shares of the insurance provider’s stock valued at $708,000 after acquiring an additional 1,490 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of W. R. Berkley by 1.4% during the 4th quarter. M&T Bank Corp now owns 10,608 shares of the insurance provider’s stock valued at $785,000 after acquiring an additional 144 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of W. R. Berkley by 11.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 52,251 shares of the insurance provider’s stock valued at $3,862,000 after acquiring an additional 5,459 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of W. R. Berkley by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 3,444,334 shares of the insurance provider’s stock valued at $254,570,000 after acquiring an additional 23,313 shares in the last quarter. 72.63% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the company. Zacks Investment Research raised W. R. Berkley from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Wednesday, May 22nd. UBS Group raised their price objective on W. R. Berkley from $53.00 to $56.00 and gave the company a “sell” rating in a report on Wednesday, April 24th. Boenning Scattergood reaffirmed a “hold” rating on shares of W. R. Berkley in a report on Wednesday, April 24th. Royal Bank of Canada lifted their target price on W. R. Berkley to $60.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 24th. They noted that the move was a valuation call. Finally, ValuEngine downgraded W. R. Berkley from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. W. R. Berkley currently has a consensus rating of “Hold” and a consensus target price of $55.86.
W. R. Berkley (NYSE:WRB) last announced its earnings results on Tuesday, April 23rd. The insurance provider reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.31. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.62 billion. W. R. Berkley had a return on equity of 10.21% and a net margin of 8.47%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 EPS. Equities research analysts predict that W. R. Berkley Corp will post 2.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 17th. This is an increase from W. R. Berkley’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 0.68%. W. R. Berkley’s payout ratio is presently 14.98%.
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About W. R. Berkley
W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.
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