First Trust Advisors LP trimmed its holdings in W.R. Berkley Corporation (NYSE:WRB) by 7.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,645 shares of the insurance provider’s stock after selling 20,120 shares during the quarter. First Trust Advisors LP owned about 0.21% of W.R. Berkley Corporation worth $17,262,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of WRB. Teachers Advisors LLC grew its holdings in W.R. Berkley Corporation by 0.4% in the 1st quarter. Teachers Advisors LLC now owns 290,738 shares of the insurance provider’s stock worth $20,535,000 after buying an additional 1,041 shares in the last quarter. Morgan Stanley grew its holdings in W.R. Berkley Corporation by 24.1% in the 1st quarter. Morgan Stanley now owns 279,449 shares of the insurance provider’s stock worth $19,737,000 after buying an additional 54,345 shares in the last quarter. Renaissance Technologies LLC bought a new position in W.R. Berkley Corporation in the 1st quarter worth approximately $2,981,000. Public Employees Retirement System of Ohio grew its holdings in W.R. Berkley Corporation by 5.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 43,977 shares of the insurance provider’s stock worth $3,106,000 after buying an additional 2,160 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in W.R. Berkley Corporation during the 1st quarter valued at $262,000. 70.49% of the stock is owned by institutional investors and hedge funds.
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Shares of W.R. Berkley Corporation (NYSE WRB) opened at $67.78 on Wednesday. The firm has a market capitalization of $8,297.88, a price-to-earnings ratio of 26.93, a PEG ratio of 3.12 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.34 and a current ratio of 0.34. W.R. Berkley Corporation has a one year low of $58.15 and a one year high of $73.17.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.83%. The ex-dividend date is Wednesday, November 29th. W.R. Berkley Corporation’s dividend payout ratio is presently 13.11%.
W.R. Berkley Corporation announced that its board has authorized a stock repurchase program on Tuesday, August 8th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the insurance provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
WRB has been the subject of a number of research reports. Zacks Investment Research raised W.R. Berkley Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Boenning Scattergood reaffirmed a “hold” rating on shares of W.R. Berkley Corporation in a research note on Wednesday, July 26th. BidaskClub lowered W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $72.00 price target on shares of W.R. Berkley Corporation in a research note on Tuesday, August 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “neutral” rating on shares of W.R. Berkley Corporation in a research note on Sunday, September 3rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. W.R. Berkley Corporation currently has a consensus rating of “Hold” and a consensus price target of $67.75.
W.R. Berkley Corporation Company 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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