BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in shares of W. R. Berkley Corp (NYSE:WRB) by 57.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,280 shares of the insurance provider’s stock after selling 49,326 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in W. R. Berkley were worth $2,755,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of WRB. Pacer Advisors Inc. increased its stake in shares of W. R. Berkley by 14.6% in the third quarter. Pacer Advisors Inc. now owns 34,832 shares of the insurance provider’s stock worth $2,784,000 after buying an additional 4,430 shares during the period. USS Investment Management Ltd increased its stake in shares of W. R. Berkley by 3.6% in the fourth quarter. USS Investment Management Ltd now owns 140,900 shares of the insurance provider’s stock worth $10,405,000 after buying an additional 4,900 shares during the period. BlackRock Inc. increased its stake in shares of W. R. Berkley by 9.5% in the fourth quarter. BlackRock Inc. now owns 11,734,433 shares of the insurance provider’s stock worth $867,293,000 after buying an additional 1,018,035 shares during the period. Wells Fargo & Company MN increased its stake in shares of W. R. Berkley by 3.2% in the third quarter. Wells Fargo & Company MN now owns 372,745 shares of the insurance provider’s stock worth $29,792,000 after buying an additional 11,410 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of W. R. Berkley by 22.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 72,937 shares of the insurance provider’s stock worth $5,391,000 after buying an additional 13,537 shares during the period. 72.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of W. R. Berkley stock opened at $83.64 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.51. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 2.44 and a beta of 0.75. W. R. Berkley Corp has a 12-month low of $68.87 and a 12-month high of $84.65.
W. R. Berkley’s stock is set to split on Wednesday, April 3rd. The 3-2 split was announced on Thursday, February 21st. The newly minted shares will be payable to shareholders after the market closes on Tuesday, April 2nd.
W. R. Berkley (NYSE:WRB) last issued its quarterly earnings data on Tuesday, January 29th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.15. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. W. R. Berkley had a net margin of 8.33% and a return on equity of 9.39%. On average, analysts forecast that W. R. Berkley Corp will post 3.8 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Thursday, March 14th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Wednesday, March 13th. W. R. Berkley’s payout ratio is currently 14.96%.
Several brokerages recently commented on WRB. Zacks Investment Research downgraded shares of W. R. Berkley from a “hold” rating to a “sell” rating in a research note on Monday, January 14th. Credit Suisse Group raised shares of W. R. Berkley from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $77.50 to $88.00 in a research note on Wednesday, February 27th. Finally, Morgan Stanley decreased their target price on shares of W. R. Berkley from $74.00 to $73.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $79.40.
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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