W.R. Berkley Corporation (WRB) Receives Consensus Rating of “Hold” from Brokerages
W.R. Berkley Corporation (NYSE:WRB) has been given a consensus recommendation of “Hold” by the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $61.43.
A number of equities research analysts have issued reports on WRB shares. BidaskClub lowered shares of W.R. Berkley Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $67.00 target price on shares of W.R. Berkley Corporation in a research note on Wednesday, May 17th. Zacks Investment Research lowered shares of W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $70.00 target price (up previously from $68.00) on shares of W.R. Berkley Corporation in a research note on Friday.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position 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 worth $744,042,000 after buying an additional 10,336,836 shares in the last quarter. Vanguard Group Inc. increased its position 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 worth $616,181,000 after buying an additional 482,820 shares in the last quarter. First Eagle Investment Management LLC increased its position in W.R. Berkley Corporation by 1.7% in the first quarter. First Eagle Investment Management LLC now owns 6,718,476 shares of the insurance provider’s stock worth $474,526,000 after buying an additional 112,683 shares in the last quarter. Boston Partners increased its position in W.R. Berkley Corporation by 2.5% in the first quarter. Boston Partners now owns 5,126,211 shares of the insurance provider’s stock worth $362,064,000 after buying an additional 125,551 shares in the last quarter. Finally, State Street Corp increased its position in W.R. Berkley Corporation by 2.5% in the first quarter. State Street Corp now owns 3,898,743 shares of the insurance provider’s stock worth $275,369,000 after buying an additional 94,402 shares in the last quarter. Institutional investors and hedge funds own 72.19% of the company’s stock.
W.R. Berkley Corporation (WRB) traded up 0.10% during mid-day trading on Tuesday, hitting $69.07. The stock had a trading volume of 430,029 shares. The stock has a market cap of $8.37 billion, a PE ratio of 14.66 and a beta of 0.87. W.R. Berkley Corporation has a one year low of $55.55 and a one year high of $73.17. The firm’s 50-day moving average is $68.32 and its 200 day moving average is $68.61.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Thursday, June 15th were issued a dividend of $0.14 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.81%. This is an increase from W.R. Berkley Corporation’s previous quarterly dividend of $0.13. W.R. Berkley Corporation’s dividend payout ratio (DPR) is currently 11.84%.
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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