National Pension Service Buys 23,122 Shares of W.R. Berkley Corporation $WRB

Key Points

• National Pension Service increased its W.R. Berkley stake by 81.4% in the second quarter, purchasing 23,122 additional shares and bringing its holdings to 51,537 shares valued at approximately $3.64 million.
• W.R. Berkley exceeded quarterly earnings expectations, reporting $1.27 in EPS versus the $1.08 consensus estimate and $3.72 billion in revenue, up 2.4% year over year.
• Analysts maintain a cautious outlook, with a consensus rating of “Reduce” and an average price target of $70.94. The company also declared a quarterly dividend of $0.10 per share, yielding 0.6% annually.

National Pension Service increased its holdings in shares of W.R. Berkley Corporation (NYSE:WRB - Free Report) by 81.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,537 shares of the insurance provider's stock after purchasing an additional 23,122 shares during the quarter. National Pension Service's holdings in W.R. Berkley were worth $3,635,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WRB. Entrust Financial LLC bought a new stake in W.R. Berkley during the 4th quarter worth about $25,000. Hazlett Burt & Watson Inc. lifted its position in shares of W.R. Berkley by 140.0% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider's stock valued at $26,000 after buying an additional 210 shares during the last quarter. Allied Private Wealth LLC bought a new stake in shares of W.R. Berkley during the 2nd quarter worth about $29,000. DV Equities LLC bought a new stake in shares of W.R. Berkley during the 4th quarter worth about $29,000. Finally, IFP Advisors Inc boosted its position in shares of W.R. Berkley by 44.7% in the second quarter. IFP Advisors Inc now owns 466 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds own 68.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WRB. Mizuho lifted their price objective on W.R. Berkley from $72.00 to $74.00 and gave the company a "neutral" rating in a report on Tuesday, July 21st. Oppenheimer set a $70.00 target price on W.R. Berkley in a report on Tuesday, July 21st. Wells Fargo & Company restated an "underweight" rating and issued a $68.00 price objective (up from $67.00) on shares of W.R. Berkley in a report on Tuesday, July 21st. Atlantic Securities set a $74.00 target price on shares of W.R. Berkley in a research note on Wednesday, July 15th. Finally, Morgan Stanley boosted their price target on W.R. Berkley from $72.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, W.R. Berkley has a consensus rating of "Reduce" and an average price target of $70.94.

W.R. Berkley Stock Down 0.0%

WRB opened at $69.89 on Monday. The company's 50-day moving average price is $70.96 and its two-hundred day moving average price is $68.75. W.R. Berkley Corporation has a twelve month low of $62.87 and a twelve month high of $78.96. The stock has a market cap of $25.94 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.74 and a beta of 0.28. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.29.

W.R. Berkley (NYSE:WRB - Get Free Report) last issued its earnings results on Monday, July 20th. The insurance provider reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.19. W.R. Berkley had a net margin of 12.94% and a return on equity of 19.44%. The firm had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the business earned $1.05 earnings per share. The company's quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities analysts expect that W.R. Berkley Corporation will post 4.87 earnings per share for the current year.

W.R. Berkley Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. W.R. Berkley's payout ratio is presently 8.21%.

About W.R. Berkley

W.R. Berkley Corporation NYSE: WRB is an insurance holding company that operates through a group of property and casualty insurance businesses. The company provides commercial insurance and reinsurance products for businesses, organizations and other insurance companies, with an emphasis on specialty and complex risks.

Its offerings include commercial property and casualty coverage, excess and surplus lines, professional liability, workers' compensation, commercial automobile insurance, marine insurance and other specialty products.

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