Royce & Associates LP boosted its position in W. R. Berkley Corp (NYSE:WRB) by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,310 shares of the insurance provider’s stock after purchasing an additional 2,300 shares during the period. Royce & Associates LP’s holdings in W. R. Berkley were worth $1,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in WRB. Robeco Institutional Asset Management B.V. lifted its stake in W. R. Berkley by 15.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 11,733 shares of the insurance provider’s stock worth $938,000 after purchasing an additional 1,570 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of W. R. Berkley by 3.2% during the third quarter. Wells Fargo & Company MN now owns 372,745 shares of the insurance provider’s stock worth $29,792,000 after acquiring an additional 11,410 shares during the period. Janney Montgomery Scott LLC increased its position in shares of W. R. Berkley by 8.5% during the third quarter. Janney Montgomery Scott LLC now owns 34,549 shares of the insurance provider’s stock worth $2,762,000 after acquiring an additional 2,692 shares during the period. Dupont Capital Management Corp increased its position in shares of W. R. Berkley by 40.0% during the third quarter. Dupont Capital Management Corp now owns 23,600 shares of the insurance provider’s stock worth $1,886,000 after acquiring an additional 6,744 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of W. R. Berkley by 7.4% during the third quarter. SG Americas Securities LLC now owns 40,131 shares of the insurance provider’s stock worth $3,208,000 after acquiring an additional 2,774 shares during the period. 72.07% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on WRB. Credit Suisse Group raised shares of W. R. Berkley from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $77.50 to $88.00 in a research report on Wednesday, February 27th. Zacks Investment Research lowered shares of W. R. Berkley from a “hold” rating to a “sell” rating in a research report on Monday, January 21st. Finally, Morgan Stanley reduced their target price on shares of W. R. Berkley from $74.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $79.40.
Shares of W. R. Berkley are set to split before the market opens on Wednesday, April 3rd. The 3-2 split was announced on Thursday, February 21st. The newly issued shares will be payable to shareholders after the closing bell on Tuesday, April 2nd.
W. R. Berkley (NYSE:WRB) last issued its earnings results on Tuesday, January 29th. The insurance provider reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.15. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. W. R. Berkley had a net margin of 8.33% and a return on equity of 9.39%. Sell-side analysts anticipate that W. R. Berkley Corp will post 3.8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Thursday, March 14th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Wednesday, March 13th. W. R. Berkley’s dividend payout ratio (DPR) is presently 14.96%.
COPYRIGHT VIOLATION NOTICE: “Royce & Associates LP Has $1.50 Million Holdings in W. R. Berkley Corp (WRB)” was first reported by Dakota Financial News and is the sole property of of Dakota Financial News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://dakotafinancialnews.com/2019/03/15/royce-associates-lp-has-1-50-million-holdings-in-w-r-berkley-corp-wrb.html.
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.
Read More: What is a blue-chip stock?
Want to see what other hedge funds are holding WRB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for W. R. Berkley Corp (NYSE:WRB).
Receive News & Ratings for W. R. Berkley Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W. R. Berkley and related companies with MarketBeat.com's FREE daily email newsletter.