33,496 Shares in W.R. Berkley Corporation $WRB Purchased by Entropy Technologies LP

Entropy Technologies LP purchased a new stake in W.R. Berkley Corporation (NYSE:WRB) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 33,496 shares of the insurance provider’s stock, valued at approximately $2,220,000.

A number of other hedge funds have also recently bought and sold shares of the business. Mitsui Sumitomo Insurance Co. Ltd. purchased a new stake in W.R. Berkley during the 4th quarter worth approximately $3,542,919,000. Norges Bank purchased a new position in shares of W.R. Berkley during the 4th quarter valued at approximately $435,752,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of W.R. Berkley by 35,572.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,219,902 shares of the insurance provider’s stock valued at $155,660,000 after buying an additional 2,213,679 shares during the last quarter. Invesco Ltd. grew its position in shares of W.R. Berkley by 33.4% during the third quarter. Invesco Ltd. now owns 4,892,799 shares of the insurance provider’s stock worth $374,886,000 after buying an additional 1,224,363 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of W.R. Berkley by 70.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,754,383 shares of the insurance provider’s stock worth $193,137,000 after buying an additional 1,140,349 shares in the last quarter. Institutional investors and hedge funds own 68.82% of the company’s stock.

W.R. Berkley Stock Up 0.0%

NYSE:WRB opened at $75.48 on Monday. The firm has a market capitalization of $28.10 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 3.51 and a beta of 0.29. W.R. Berkley Corporation has a 52 week low of $62.87 and a 52 week high of $78.96. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average of $69.20 and a 200-day moving average of $68.43.

W.R. Berkley (NYSE:WRB) last posted its earnings results on Monday, July 20th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.19. W.R. Berkley had a return on equity of 19.49% and a net margin of 12.94%.The company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the business posted $1.05 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Analysts predict that W.R. Berkley Corporation will post 4.75 EPS for the current year.

W.R. Berkley Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Tuesday, June 23rd were issued a $0.10 dividend. This is a boost from W.R. Berkley’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. W.R. Berkley’s dividend payout ratio is 8.21%.

Analyst Ratings Changes

WRB has been the topic of several recent analyst reports. UBS Group set a $68.00 price target on shares of W.R. Berkley and gave the company a “neutral” rating in a report on Monday, April 27th. Cantor Fitzgerald reissued a “neutral” rating and set a $74.00 price objective (up from $70.00) on shares of W.R. Berkley in a report on Thursday, July 9th. Argus downgraded shares of W.R. Berkley from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Oppenheimer set a $70.00 target price on shares of W.R. Berkley in a research report on Tuesday, July 21st. Finally, Weiss Ratings lowered shares of W.R. Berkley from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $70.44.

W.R. Berkley News Roundup

Here are the key news stories impacting W.R. Berkley this week:

• Positive Sentiment: WRB is being highlighted as a top long-term momentum stock, with coverage pointing to strong style scores and market-beating characteristics that can support investor demand. Article Title
• Positive Sentiment: Analysts and market commentary are reacting favorably to W.R. Berkley’s Q2 results, with reports saying the earnings beat and ongoing share buybacks are reinforcing the bull case and leading some firms to raise price targets. Article Title
• Positive Sentiment: WRB is also being described as a strong value stock and a portfolio “ballast,” which may appeal to investors looking for quality, defensive exposure in property and casualty insurance. Article Title
• Neutral Sentiment: One report compares W.R. Berkley with Allstate on value metrics, which is more of a relative-stock-selection piece than a clear catalyst for the shares. Article Title
• Neutral Sentiment: Another article notes that W.R. Berkley’s baby bonds offer 7%+ yields at investment-grade risk, which supports the company’s credit profile but is unlikely to move the common stock materially on its own. Article Title
• Negative Sentiment: There is some caution in the analyst community, as one report says W.R. Berkley currently carries an average rating of “Reduce,” suggesting valuation or upside concerns remain. Article Title

W.R. Berkley Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.