Tower Research Capital LLC TRC trimmed its stake in shares of W. R. Berkley Corp (NYSE:WRB) by 61.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,211 shares of the insurance provider’s stock after selling 3,514 shares during the quarter. Tower Research Capital LLC TRC’s holdings in W. R. Berkley were worth $146,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC bought a new stake in shares of W. R. Berkley during the 2nd quarter valued at $26,000. Steward Partners Investment Advisory LLC bought a new stake in shares of W. R. Berkley during the 2nd quarter valued at $27,000. Hanson McClain Inc. raised its stake in shares of W. R. Berkley by 50.0% during the 2nd quarter. Hanson McClain Inc. now owns 525 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 175 shares during the period. Johnson Financial Group Inc. raised its stake in shares of W. R. Berkley by 49.9% during the 2nd quarter. Johnson Financial Group Inc. now owns 553 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 184 shares during the period. Finally, Asset Dedication LLC raised its stake in shares of W. R. Berkley by 49.9% during the 2nd quarter. Asset Dedication LLC now owns 571 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 190 shares during the period. Institutional investors own 70.65% of the company’s stock.
NYSE WRB traded up $0.25 during trading on Wednesday, reaching $72.65. The company’s stock had a trading volume of 10,244 shares, compared to its average volume of 664,237. The stock has a market capitalization of $13.14 billion, a PE ratio of 27.22, a P/E/G ratio of 2.78 and a beta of 0.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a fifty day moving average of $71.54 and a 200 day moving average of $68.29. W. R. Berkley Corp has a one year low of $45.91 and a one year high of $73.26.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 19th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $0.44 dividend on an annualized basis and a yield of 0.61%. W. R. Berkley’s dividend payout ratio is currently 16.48%.
WRB has been the topic of a number of analyst reports. Zacks Investment Research upgraded W. R. Berkley from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Saturday, July 27th. Buckingham Research upped their target price on W. R. Berkley from $63.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Deutsche Bank lowered W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 target price on the stock. in a research note on Wednesday, June 26th. Morgan Stanley upped their target price on W. R. Berkley from $63.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada upped their target price on W. R. Berkley to $68.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. W. R. Berkley currently has an average rating of “Hold” and an average price target of $65.20.
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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