The Manufacturers Life Insurance Company Boosts Stock Holdings in W.R. Berkley Corporation $WRB

The Manufacturers Life Insurance Company raised its stake in W.R. Berkley Corporation (NYSE:WRB) by 4.1% during the first quarter, Holdings Channel reports. The firm owned 499,839 shares of the insurance provider’s stock after purchasing an additional 19,470 shares during the period. The Manufacturers Life Insurance Company’s holdings in W.R. Berkley were worth $33,129,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Johnson Financial Group Inc. increased its holdings in shares of W.R. Berkley by 22.3% during the 3rd quarter. Johnson Financial Group Inc. now owns 756 shares of the insurance provider’s stock worth $58,000 after buying an additional 138 shares during the last quarter. Inspire Advisors LLC boosted its holdings in W.R. Berkley by 1.0% in the fourth quarter. Inspire Advisors LLC now owns 14,364 shares of the insurance provider’s stock valued at $1,007,000 after acquiring an additional 144 shares during the last quarter. Coastal Bridge Advisors LLC grew its position in W.R. Berkley by 1.5% during the fourth quarter. Coastal Bridge Advisors LLC now owns 10,277 shares of the insurance provider’s stock valued at $721,000 after acquiring an additional 154 shares during the period. HB Wealth Management LLC grew its position in W.R. Berkley by 1.4% during the fourth quarter. HB Wealth Management LLC now owns 11,722 shares of the insurance provider’s stock valued at $822,000 after acquiring an additional 167 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in W.R. Berkley by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,400 shares of the insurance provider’s stock worth $2,412,000 after acquiring an additional 200 shares during the last quarter. 68.82% of the stock is owned by hedge funds and other institutional investors.

W.R. Berkley Price Performance

Shares of NYSE WRB opened at $72.68 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.36 and a quick ratio of 0.36. W.R. Berkley Corporation has a 1-year low of $62.87 and a 1-year high of $78.96. The company has a market capitalization of $27.06 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 3.38 and a beta of 0.29. The business has a 50-day moving average of $69.86 and a 200-day moving average of $68.63.

W.R. Berkley (NYSE:WRB) last announced its earnings results on Monday, July 20th. The insurance provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.08 by $0.19. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.28 billion. W.R. Berkley had a return on equity of 19.49% and a net margin of 12.94%.The company’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $1.05 EPS. On average, equities analysts anticipate that W.R. Berkley Corporation will post 4.79 EPS for the current fiscal year.

W.R. Berkley Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 23rd were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.6%. This is a positive change from W.R. Berkley’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, June 23rd. W.R. Berkley’s dividend payout ratio is 8.21%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods restated a “market perform” rating on shares of W.R. Berkley in a report on Tuesday, July 21st. Wells Fargo & Company reiterated an “underweight” rating and set a $68.00 target price (up from $67.00) on shares of W.R. Berkley in a report on Tuesday, July 21st. Cantor Fitzgerald reissued a “neutral” rating and set a $74.00 target price (up from $70.00) on shares of W.R. Berkley in a research report on Thursday, July 9th. Morgan Stanley raised their price target on shares of W.R. Berkley from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Finally, Mizuho lifted their price target on shares of W.R. Berkley from $72.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, W.R. Berkley currently has an average rating of “Reduce” and a consensus target price of $70.94.

W.R. Berkley Company 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.