W.G. Shaheen & Associates DBA Whitney & Co Raises Holdings in W. R. Berkley Corp (WRB)

W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in shares of W. R. Berkley Corp (NYSE:WRB) by 45.1% during the first quarter, HoldingsChannel.com reports. The firm owned 70,004 shares of the insurance provider’s stock after acquiring an additional 21,750 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in W. R. Berkley were worth $4,291,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in shares of W. R. Berkley by 3.7% during the third quarter. JPMorgan Chase & Co. now owns 2,156,888 shares of the insurance provider’s stock valued at $172,400,000 after buying an additional 77,478 shares during the last quarter. Vanguard Group Inc raised its position in shares of W. R. Berkley by 1.2% in the third quarter. Vanguard Group Inc now owns 9,227,226 shares of the insurance provider’s stock worth $737,533,000 after acquiring an additional 107,591 shares during the period. DNB Asset Management AS acquired a new position in shares of W. R. Berkley in the fourth quarter worth about $4,574,000. Fox Run Management L.L.C. acquired a new position in shares of W. R. Berkley during the 4th quarter worth about $250,000. Finally, Legacy Financial Advisors Inc. raised its position in shares of W. R. Berkley by 6.4% during the 4th quarter. Legacy Financial Advisors Inc. now owns 8,641 shares of the insurance provider’s stock worth $639,000 after purchasing an additional 517 shares during the last quarter. 72.63% of the stock is currently owned by institutional investors.

Several research analysts recently weighed in on the stock. UBS Group upped their price target on shares of W. R. Berkley from $53.00 to $56.00 and gave the stock a “sell” rating in a research report on Wednesday, April 24th. Boenning Scattergood restated a “hold” rating on shares of W. R. Berkley in a research report on Wednesday, April 24th. Royal Bank of Canada upped their price target on shares of W. R. Berkley to $60.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 24th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of W. R. Berkley from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. Finally, ValuEngine downgraded shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. W. R. Berkley presently has a consensus rating of “Hold” and a consensus price target of $54.38.

NYSE WRB traded down $0.67 during trading hours on Monday, hitting $60.80. 144,714 shares of the company’s stock traded hands, compared to its average volume of 419,167. W. R. Berkley Corp has a 52-week low of $45.91 and a 52-week high of $61.75. The stock has a market cap of $11.55 billion, a PE ratio of 22.77, a P/E/G ratio of 2.59 and a beta of 0.78. The company has a current ratio of 0.37, a quick ratio of 0.35 and a debt-to-equity ratio of 0.48.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Tuesday, April 23rd. The insurance provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.31. W. R. Berkley had a net margin of 8.47% and a return on equity of 10.21%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the prior year, the company earned $0.87 EPS. W. R. Berkley’s revenue was up 1.6% compared to the same quarter last year. On average, sell-side analysts forecast that W. R. Berkley Corp will post 2.6 EPS for the current fiscal year.

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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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