IFM Investors Pty Ltd Increases Stake in W. R. Berkley Co. (NYSE:WRB)

IFM Investors Pty Ltd lifted its stake in shares of W. R. Berkley Co. (NYSE:WRBGet Rating) by 84.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,697 shares of the insurance provider’s stock after buying an additional 16,796 shares during the quarter. IFM Investors Pty Ltd’s holdings in W. R. Berkley were worth $2,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp grew its holdings in W. R. Berkley by 1.0% in the fourth quarter. State Street Corp now owns 7,208,437 shares of the insurance provider’s stock worth $593,903,000 after purchasing an additional 71,757 shares during the period. Victory Capital Management Inc. grew its holdings in W. R. Berkley by 32.3% in the first quarter. Victory Capital Management Inc. now owns 6,987,288 shares of the insurance provider’s stock worth $465,250,000 after purchasing an additional 1,706,413 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in W. R. Berkley by 6.2% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,691,336 shares of the insurance provider’s stock worth $468,910,000 after purchasing an additional 333,012 shares during the period. JPMorgan Chase & Co. grew its holdings in W. R. Berkley by 0.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,199,208 shares of the insurance provider’s stock worth $181,194,000 after purchasing an additional 15,718 shares during the period. Finally, Manning & Napier Group LLC grew its holdings in W. R. Berkley by 36.9% in the first quarter. Manning & Napier Group LLC now owns 1,688,608 shares of the insurance provider’s stock worth $112,443,000 after purchasing an additional 455,440 shares during the period. Hedge funds and other institutional investors own 49.90% of the company’s stock.

W. R. Berkley Stock Up 1.1 %

WRB opened at $61.83 on Friday. The company has a current ratio of 0.39, a quick ratio of 0.49 and a debt-to-equity ratio of 0.43. W. R. Berkley Co. has a 1-year low of $47.13 and a 1-year high of $72.32. The company has a market capitalization of $16.40 billion, a PE ratio of 13.01, a PEG ratio of 1.70 and a beta of 0.65. The firm’s 50 day simple moving average is $66.45 and its two-hundred day simple moving average is $64.98.

W. R. Berkley (NYSE:WRBGet Rating) last released its quarterly earnings results on Thursday, July 21st. The insurance provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.28. W. R. Berkley had a net margin of 12.71% and a return on equity of 17.26%. The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the firm earned $0.78 earnings per share. As a group, equities analysts forecast that W. R. Berkley Co. will post 4.06 EPS for the current year.

W. R. Berkley Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 7th. Shareholders of record on Monday, June 27th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 24th. This is an increase from W. R. Berkley’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.65%. W. R. Berkley’s dividend payout ratio (DPR) is presently 8.42%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of W. R. Berkley from $63.00 to $75.00 in a research note on Friday, April 8th. StockNews.com downgraded shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. Argus assumed coverage on shares of W. R. Berkley in a research note on Wednesday. They issued a “buy” rating and a $72.00 target price on the stock. Morgan Stanley upped their target price on shares of W. R. Berkley from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Monday, May 23rd. Finally, Truist Financial upped their target price on shares of W. R. Berkley from $73.33 to $83.00 in a research note on Tuesday, April 26th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $70.03.

Insiders Place Their Bets

In other W. R. Berkley news, Director Mark Ellwood Brockbank purchased 1,434 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were acquired at an average cost of $61.85 per share, for a total transaction of $88,692.90. Following the completion of the transaction, the director now owns 6,000 shares of the company’s stock, valued at $371,100. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 22.30% of the company’s stock.

W. R. Berkley Profile

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W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and general and professional liability lines.

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Institutional Ownership by Quarter for W. R. Berkley (NYSE:WRB)

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