NEXT Financial Group Inc lifted its holdings in shares of W. R. Berkley Corp (NYSE:WRB) by 103.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,111 shares of the insurance provider’s stock after buying an additional 3,616 shares during the period. NEXT Financial Group Inc’s holdings in W. R. Berkley were worth $471,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of WRB. Truvestments Capital LLC acquired a new stake in W. R. Berkley during the 1st quarter worth approximately $66,000. Strategy Asset Managers LLC acquired a new stake in shares of W. R. Berkley during the first quarter worth $66,000. Citizens Financial Group Inc RI acquired a new stake in shares of W. R. Berkley during the first quarter worth $74,000. AdvisorNet Financial Inc lifted its holdings in shares of W. R. Berkley by 263.3% during the second quarter. AdvisorNet Financial Inc now owns 1,217 shares of the insurance provider’s stock worth $80,000 after purchasing an additional 882 shares during the period. Finally, M&R Capital Management Inc. lifted its holdings in shares of W. R. Berkley by 50.0% during the first quarter. M&R Capital Management Inc. now owns 2,851 shares of the insurance provider’s stock worth $173,000 after purchasing an additional 950 shares during the period. 72.63% of the stock is owned by institutional investors.
In other news, Director Mark Ellwood Brockbank sold 77,000 shares of W. R. Berkley stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $66.61, for a total transaction of $5,128,970.00. Following the completion of the sale, the director now directly owns 51,329 shares in the company, valued at approximately $3,419,024.69. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.70% of the stock is owned by company insiders.
W. R. Berkley (NYSE:WRB) last released its earnings results on Tuesday, July 23rd. The insurance provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.18. W. R. Berkley had a return on equity of 10.75% and a net margin of 8.81%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the company earned $1.40 earnings per share. W. R. Berkley’s quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that W. R. Berkley Corp will post 2.82 EPS for the current fiscal year.
Several analysts have recently commented on WRB shares. Deutsche Bank cut shares of W. R. Berkley from a “hold” rating to a “sell” rating and set a $65.71 target price for the company. in a research note on Wednesday, June 26th. Royal Bank of Canada raised their target price on shares of W. R. Berkley to $68.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Saturday, July 27th. UBS Group raised their price objective on shares of W. R. Berkley from $53.00 to $56.00 and gave the company a “sell” rating in a research report on Wednesday, April 24th. Finally, Boenning Scattergood restated a “hold” rating on shares of W. R. Berkley in a research report on Wednesday, April 24th. Two 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. The company presently has an average rating of “Hold” and an average price target of $61.34.
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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