TD Asset Management Inc. cut its stake in shares of W. R. Berkley Co. (NYSE:WRB) by 48.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 93,794 shares of the insurance provider’s stock after selling 89,604 shares during the period. TD Asset Management Inc. owned approximately 0.05% of W. R. Berkley worth $6,864,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. JFS Wealth Advisors LLC acquired a new position in W. R. Berkley during the 3rd quarter worth approximately $56,000. Fairfield Bush & CO. lifted its position in W. R. Berkley by 3.3% during the 3rd quarter. Fairfield Bush & CO. now owns 12,488 shares of the insurance provider’s stock worth $914,000 after acquiring an additional 400 shares in the last quarter. Mackenzie Financial Corp lifted its position in W. R. Berkley by 9.1% during the 3rd quarter. Mackenzie Financial Corp now owns 13,684 shares of the insurance provider’s stock worth $1,001,000 after acquiring an additional 1,140 shares in the last quarter. Ceredex Value Advisors LLC lifted its position in W. R. Berkley by 7.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 738,450 shares of the insurance provider’s stock worth $54,040,000 after acquiring an additional 53,700 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in W. R. Berkley by 7.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 39,065 shares of the insurance provider’s stock worth $2,856,000 after acquiring an additional 2,820 shares in the last quarter. 74.43% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:WRB opened at $85.59 on Friday. W. R. Berkley Co. has a 12-month low of $61.49 and a 12-month high of $87.07. The firm has a market capitalization of $15.12 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.88 and a beta of 0.86. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.49 and a quick ratio of 0.49. The business has a 50 day simple moving average of $81.37 and a 200 day simple moving average of $77.45.
The business also recently disclosed a special dividend, which was paid on Wednesday, December 22nd. Investors of record on Tuesday, December 7th were given a dividend of $1.00 per share. The ex-dividend date was Monday, December 6th. This represents a yield of 0.6%. This is a positive change from W. R. Berkley’s previous special dividend of $0.33. W. R. Berkley’s payout ratio is currently 9.34%.
In related news, Director Mark Ellwood Brockbank sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 23rd. The stock was sold at an average price of $80.31, for a total transaction of $2,007,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 22.30% of the company’s stock.
Several research firms have issued reports on WRB. Jefferies Financial Group began coverage on W. R. Berkley in a report on Thursday, November 18th. They set a “hold” rating and a $82.00 price objective on the stock. Boenning Scattergood upgraded W. R. Berkley from a “neutral” rating to an “outperform” rating and set a $87.00 price objective on the stock in a report on Monday, September 20th. Zacks Investment Research upgraded W. R. Berkley from a “strong sell” rating to a “hold” rating and set a $70.00 price objective on the stock in a report on Monday, October 25th. Evercore ISI began coverage on W. R. Berkley in a report on Thursday, December 16th. They set an “outperform” rating and a $98.00 price objective on the stock. Finally, The Goldman Sachs Group began coverage on W. R. Berkley in a report on Monday, November 22nd. They set a “buy” rating and a $99.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $89.67.
W. R. Berkley Profile
W.R. Berkley Corp. is an insurance holding company, which engages in the property casualty insurance business. It operates through the following segments: Insurance and Reinsurance & Monoline Excess. The Insurance segment includes excess and surplus lines, admitted lines, and specialty personal lines throughout the United States, as well as insurance business in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.
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