Cornerstone Capital Management Holdings LLC. purchased a new position in W. R. Berkley Corp (NYSE:WRB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 29,502 shares of the insurance provider’s stock, valued at approximately $1,968,000.
Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of W. R. Berkley by 683.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,566 shares of the insurance provider’s stock valued at $108,000 after purchasing an additional 1,366 shares during the last quarter. IFP Advisors Inc increased its position in shares of W. R. Berkley by 6.9% during the 2nd quarter. IFP Advisors Inc now owns 2,207 shares of the insurance provider’s stock valued at $153,000 after purchasing an additional 143 shares during the last quarter. Massey Quick Simon & CO. LLC purchased a new stake in shares of W. R. Berkley during the 3rd quarter valued at about $175,000. Advisor Group Inc. increased its position in shares of W. R. Berkley by 50.7% during the 2nd quarter. Advisor Group Inc. now owns 3,370 shares of the insurance provider’s stock valued at $233,000 after purchasing an additional 1,134 shares during the last quarter. Finally, Cadence Capital Management LLC purchased a new stake in W. R. Berkley in the 3rd quarter worth approximately $256,000. Institutional investors own 71.03% of the company’s stock.
Several research firms recently issued reports on WRB. Zacks Investment Research raised shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a report on Wednesday, December 27th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $69.00 target price on shares of W. R. Berkley in a report on Friday, November 17th. Deutsche Bank increased their price objective on shares of W. R. Berkley from $65.00 to $66.00 and gave the company a “hold” rating in a report on Wednesday, October 25th. Bank of America increased their price objective on shares of W. R. Berkley from $73.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of W. R. Berkley in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $70.38.
W. R. Berkley Corp (NYSE:WRB) traded up $0.83 during trading hours on Friday, hitting $69.44. The stock had a trading volume of 419,387 shares, compared to its average volume of 356,603. W. R. Berkley Corp has a fifty-two week low of $62.00 and a fifty-two week high of $73.17. The company has a market capitalization of $8,356.34, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 2.12 and a beta of 0.91. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.34 and a current ratio of 0.34.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.56 annualized dividend and a dividend yield of 0.81%. W. R. Berkley’s dividend payout ratio (DPR) is 13.11%.
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W. R. Berkley Profile
W. R. Berkley Corporation is an insurance holding company. It operates through two segments: Insurance and Reinsurance-Global. The Insurance segment consists of its commercial insurance business operations, comprising excess and surplus lines, and admitted lines, throughout the United States, as well as its insurance business operations in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.
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