Pictet Asset Management Ltd. trimmed its stake in W. R. Berkley Corp (NYSE:WRB) by 36.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,189 shares of the insurance provider’s stock after selling 70,523 shares during the quarter. Pictet Asset Management Ltd. owned 0.07% of W. R. Berkley worth $8,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of WRB. Stifel Financial Corp raised its position in W. R. Berkley by 2.7% during the third quarter. Stifel Financial Corp now owns 190,715 shares of the insurance provider’s stock valued at $13,785,000 after acquiring an additional 4,932 shares in the last quarter. Neo Ivy Capital Management bought a new position in W. R. Berkley during the third quarter valued at approximately $641,000. State Street Corp raised its position in W. R. Berkley by 0.6% during the third quarter. State Street Corp now owns 6,621,019 shares of the insurance provider’s stock valued at $478,935,000 after acquiring an additional 39,912 shares in the last quarter. Voya Investment Management LLC raised its position in W. R. Berkley by 3.8% during the third quarter. Voya Investment Management LLC now owns 39,056 shares of the insurance provider’s stock valued at $2,821,000 after acquiring an additional 1,421 shares in the last quarter. Finally, Colony Group LLC bought a new position in W. R. Berkley during the third quarter valued at approximately $220,000. 70.28% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on WRB. Zacks Investment Research raised shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Saturday, October 19th. Morgan Stanley lifted their price target on shares of W. R. Berkley from $63.00 to $73.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. ValuEngine lowered shares of W. R. Berkley from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Finally, Buckingham Research lifted their price target on shares of W. R. Berkley from $63.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, four have assigned 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 $65.63.
NYSE:WRB opened at $68.36 on Tuesday. W. R. Berkley Corp has a 12 month low of $45.91 and a 12 month high of $77.54. The firm has a market cap of $12.49 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 2.48 and a beta of 0.65. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $69.15 and its 200-day moving average is $68.57.
W. R. Berkley (NYSE:WRB) last released its quarterly earnings results on Tuesday, October 22nd. The insurance provider reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.18. W. R. Berkley had a net margin of 8.82% and a return on equity of 10.60%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. Research analysts predict that W. R. Berkley Corp will post 3.05 EPS for the current fiscal year.
The company also recently declared a dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Friday, November 22nd will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, November 21st. W. R. Berkley’s dividend payout ratio is 16.48%.
W. R. Berkley 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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