Tower Research Capital LLC TRC grew its position in shares of W. R. Berkley Corp (NYSE:WRB) by 107.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,570 shares of the insurance provider’s stock after purchasing an additional 3,928 shares during the period. Tower Research Capital LLC TRC’s holdings in W. R. Berkley were worth $605,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of W. R. Berkley by 2.3% during the 3rd quarter. BlackRock Inc. now owns 10,716,398 shares of the insurance provider’s stock worth $856,561,000 after purchasing an additional 236,781 shares during the last quarter. Atlanta Capital Management Co. L L C boosted its position in shares of W. R. Berkley by 30.1% in the third quarter. Atlanta Capital Management Co. L L C now owns 7,872,276 shares of the insurance provider’s stock worth $629,231,000 after acquiring an additional 1,821,020 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of W. R. Berkley by 13.4% in the third quarter. Janus Henderson Group PLC now owns 3,797,943 shares of the insurance provider’s stock worth $303,569,000 after acquiring an additional 448,923 shares during the last quarter. Boston Partners boosted its position in shares of W. R. Berkley by 1.9% in the second quarter. Boston Partners now owns 3,566,823 shares of the insurance provider’s stock worth $258,274,000 after acquiring an additional 66,385 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of W. R. Berkley by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 2,156,888 shares of the insurance provider’s stock worth $172,400,000 after acquiring an additional 77,478 shares during the last quarter. 71.03% of the stock is currently owned by institutional investors.
WRB opened at $75.73 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. W. R. Berkley Corp has a 1 year low of $67.12 and a 1 year high of $80.68. The company has a market capitalization of $9.33 billion, a P/E ratio of 30.78, a P/E/G ratio of 2.15 and a beta of 0.85.
W. R. Berkley (NYSE:WRB) last released its earnings results on Tuesday, October 23rd. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.28. W. R. Berkley had a net margin of 8.64% and a return on equity of 9.03%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period last year, the company earned $1.26 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities research analysts anticipate that W. R. Berkley Corp will post 3.95 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Wednesday, November 28th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, November 27th. This represents a $0.60 annualized dividend and a dividend yield of 0.79%. W. R. Berkley’s dividend payout ratio is presently 24.39%.
Separately, Zacks Investment Research raised shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Thursday, September 27th. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $78.50.
About W. R. Berkley
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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