Assenagon Asset Management S.A. purchased a new position in shares of W. R. Berkley Corp (NYSE:WRB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,411 shares of the insurance provider’s stock, valued at approximately $1,472,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC purchased a new stake in shares of W. R. Berkley in the 1st quarter worth approximately $308,000. Principal Financial Group Inc. grew its stake in shares of W. R. Berkley by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 416,525 shares of the insurance provider’s stock worth $30,282,000 after buying an additional 2,046 shares during the last quarter. IFM Investors Pty Ltd grew its stake in shares of W. R. Berkley by 41.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 4,358 shares of the insurance provider’s stock worth $316,000 after buying an additional 1,284 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of W. R. Berkley by 30.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 25,939 shares of the insurance provider’s stock worth $1,878,000 after buying an additional 6,070 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its stake in shares of W. R. Berkley by 14.7% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 11,921 shares of the insurance provider’s stock worth $863,000 after buying an additional 1,528 shares during the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.
Several analysts recently weighed in on WRB shares. Zacks Investment Research downgraded W. R. Berkley from a “hold” rating to a “sell” rating in a research note on Saturday, October 13th. Credit Suisse Group started coverage on W. R. Berkley in a research note on Tuesday, August 7th. They issued a “neutral” rating and a $78.00 price target on the stock. Finally, Boenning Scattergood restated a “hold” rating on shares of W. R. Berkley in a research note on Wednesday, July 25th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $76.60.
WRB stock opened at $78.41 on Friday. The company has a market capitalization of $9.41 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 2.17 and a beta of 0.83. W. R. Berkley Corp has a 12-month low of $65.92 and a 12-month high of $80.68. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.49.
W. R. Berkley (NYSE:WRB) last released its quarterly earnings data on Tuesday, October 23rd. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.28. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.60 billion. W. R. Berkley had a return on equity of 9.04% and a net margin of 8.64%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. As a group, analysts forecast that W. R. Berkley Corp will post 3.96 EPS for the current year.
W. R. Berkley Company Profile
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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