Nisa Investment Advisors LLC cut its position in W. R. Berkley Corp (NYSE:WRB) by 19.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,015 shares of the insurance provider’s stock after selling 13,922 shares during the quarter. Nisa Investment Advisors LLC’s holdings in W. R. Berkley were worth $5,000,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of W. R. Berkley by 9.5% in the 4th quarter. BlackRock Inc. now owns 11,734,433 shares of the insurance provider’s stock valued at $867,293,000 after purchasing an additional 1,018,035 shares during the period. Vanguard Group Inc boosted its position in shares of W. R. Berkley by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 9,227,226 shares of the insurance provider’s stock valued at $737,533,000 after purchasing an additional 107,591 shares during the period. Atlanta Capital Management Co. L L C lifted its position in W. R. Berkley by 4.9% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 8,260,611 shares of the insurance provider’s stock worth $610,542,000 after acquiring an additional 388,335 shares during the period. Victory Capital Management Inc. lifted its position in W. R. Berkley by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 3,444,334 shares of the insurance provider’s stock worth $254,570,000 after acquiring an additional 23,313 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in W. R. Berkley by 7,291.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,803,776 shares of the insurance provider’s stock worth $38,000 after acquiring an additional 2,765,841 shares during the period. 72.63% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the company. Zacks Investment Research cut W. R. Berkley from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. ValuEngine downgraded W. R. Berkley from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Credit Suisse Group raised W. R. Berkley from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $51.67 to $58.67 in a research note on Wednesday, February 27th. Finally, Morgan Stanley cut their target price on W. R. Berkley from $49.33 to $48.67 and set an “equal weight” rating for the company in a research note on Thursday, January 3rd. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $52.93.
W. R. Berkley (NYSE:WRB) last released its quarterly earnings data on Tuesday, January 29th. The insurance provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.10. W. R. Berkley had a return on equity of 9.39% and a net margin of 8.33%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. On average, equities research analysts expect that W. R. Berkley Corp will post 2.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Thursday, March 14th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Wednesday, March 13th. W. R. Berkley’s payout ratio is currently 14.98%.
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W. R. Berkley Company 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.
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