WINTON GROUP Ltd boosted its stake in W. R. Berkley Co. (NYSE:WRB) by 290.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,686 shares of the insurance provider’s stock after buying an additional 9,439 shares during the period. WINTON GROUP Ltd’s holdings in W. R. Berkley were worth $944,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. First Mercantile Trust Co. increased its position in W. R. Berkley by 50.0% in the second quarter. First Mercantile Trust Co. now owns 6,720 shares of the insurance provider’s stock worth $500,000 after buying an additional 2,241 shares during the period. Nuance Investments LLC increased its position in W. R. Berkley by 4.7% in the second quarter. Nuance Investments LLC now owns 395,236 shares of the insurance provider’s stock worth $29,417,000 after buying an additional 17,679 shares during the period. Fermata Advisors LLC acquired a new stake in W. R. Berkley in the second quarter worth $214,000. Frontier Capital Management Co. LLC increased its position in W. R. Berkley by 5.4% in the second quarter. Frontier Capital Management Co. LLC now owns 224,688 shares of the insurance provider’s stock worth $16,724,000 after buying an additional 11,422 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in W. R. Berkley by 13.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 26,391 shares of the insurance provider’s stock worth $1,964,000 after buying an additional 3,033 shares during the period. 68.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WRB stock opened at $72.17 on Friday. The stock has a 50-day simple moving average of $74.35 and a 200 day simple moving average of $76.02. W. R. Berkley Co. has a fifty-two week low of $58.84 and a fifty-two week high of $82.43. The stock has a market capitalization of $12.81 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.80 and a beta of 0.85. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.44.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Investors of record on Wednesday, September 15th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $0.52 annualized dividend and a yield of 0.72%. W. R. Berkley’s dividend payout ratio is currently 22.41%.
WRB has been the topic of several analyst reports. Wolfe Research initiated coverage on W. R. Berkley in a research report on Monday, August 16th. They issued a “market perform” rating and a $76.00 target price on the stock. Royal Bank of Canada decreased their price target on W. R. Berkley from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Friday, July 23rd. Bank of America raised W. R. Berkley from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $80.00 to $86.00 in a research note on Thursday, August 19th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised W. R. Berkley from a “hold” rating to a “strong-buy” rating and set a $86.00 price target for the company in a research note on Tuesday, July 27th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $82.00.
About W. R. Berkley
W.R. Berkley Corp. is an insurance holding company, which engages in the property casualty insurance business. It operates through the following segments: Insurance and Reinsurance & Monoline Excess. The Insurance segment includes excess and surplus lines, admitted lines, and specialty personal lines throughout the United States, as well as insurance business in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.
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