First Mercantile Trust Co. Buys Shares of 5,629 W. R. Berkley Corp (NYSE:WRB)

First Mercantile Trust Co. bought a new stake in W. R. Berkley Corp (NYSE:WRB) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,629 shares of the insurance provider’s stock, valued at approximately $407,000.

A number of other hedge funds also recently bought and sold shares of WRB. BlackRock Inc. lifted its stake in W. R. Berkley by 61.0% in the second quarter. BlackRock Inc. now owns 19,067,342 shares of the insurance provider’s stock valued at $1,257,109,000 after buying an additional 7,221,477 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of W. R. Berkley by 53.2% during the second quarter. Vanguard Group Inc. now owns 14,922,965 shares of the insurance provider’s stock valued at $983,872,000 after purchasing an additional 5,180,855 shares during the period. Atlanta Capital Management Co. L L C increased its holdings in shares of W. R. Berkley by 36.3% during the second quarter. Atlanta Capital Management Co. L L C now owns 10,897,169 shares of the insurance provider’s stock valued at $718,450,000 after purchasing an additional 2,899,769 shares during the period. Janus Henderson Group PLC increased its holdings in shares of W. R. Berkley by 51.4% during the second quarter. Janus Henderson Group PLC now owns 7,106,715 shares of the insurance provider’s stock valued at $468,545,000 after purchasing an additional 2,412,693 shares during the period. Finally, Boston Partners increased its holdings in shares of W. R. Berkley by 55.3% during the second quarter. Boston Partners now owns 3,861,737 shares of the insurance provider’s stock valued at $254,643,000 after purchasing an additional 1,374,347 shares during the period. Institutional investors own 70.58% of the company’s stock.

WRB has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price target on W. R. Berkley to $68.00 and gave the company a “sector perform” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Buckingham Research raised their price target on W. R. Berkley from $63.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, September 12th. Zacks Investment Research raised W. R. Berkley from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Saturday, October 19th. ValuEngine lowered W. R. Berkley from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley raised their price target on W. R. Berkley from $63.00 to $73.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. W. R. Berkley presently has a consensus rating of “Hold” and a consensus target price of $65.63.

Shares of WRB opened at $67.89 on Friday. The firm has a market capitalization of $12.38 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 2.47 and a beta of 0.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.48 and a current ratio of 0.48. W. R. Berkley Corp has a one year low of $45.91 and a one year high of $77.54. The stock’s fifty day moving average is $70.72 and its 200-day moving average is $67.69.

W. R. Berkley (NYSE:WRB) last released its earnings results on Tuesday, October 22nd. The insurance provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.18. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.67 billion. W. R. Berkley had a return on equity of 10.75% and a net margin of 8.82%. W. R. Berkley’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 earnings per share. Analysts forecast that W. R. Berkley Corp will post 3.05 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for W. R. Berkley (NYSE:WRB)

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