Public Employees Retirement System of Ohio Invests $4.56 Million in W.R. Berkley Corporation $WRB

Key Points

• Public Employees Retirement System of Ohio acquired 64,675 shares of W.R. Berkley in the second quarter, valued at approximately $4.56 million. Institutional investors collectively own 68.82% of the insurer’s stock.
• Analyst sentiment remains cautious: W.R. Berkley has an average “Reduce” rating and a consensus price target of $70.94, with ratings spanning buy, hold and sell recommendations.
• W.R. Berkley reported quarterly EPS of $1.27, exceeding the $1.08 consensus estimate, while revenue reached $3.72 billion versus expectations of $3.28 billion. Revenue increased 2.4% year over year.

Public Employees Retirement System of Ohio acquired a new stake in W.R. Berkley Corporation (NYSE:WRB - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 64,675 shares of the insurance provider's stock, valued at approximately $4,562,000.

Other large investors also recently added to or reduced their stakes in the company. Mitsui Sumitomo Insurance Co. Ltd. bought a new stake in shares of W.R. Berkley in the 4th quarter valued at about $3,542,919,000. Norges Bank bought a new position in W.R. Berkley during the 4th quarter worth approximately $435,752,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in W.R. Berkley by 35,572.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,219,902 shares of the insurance provider's stock worth $155,660,000 after acquiring an additional 2,213,679 shares during the last quarter. Madison Asset Management LLC purchased a new position in W.R. Berkley in the 2nd quarter worth approximately $105,639,000. Finally, Bank of New York Mellon Corp bought a new stake in W.R. Berkley in the second quarter valued at approximately $95,040,000. Hedge funds and other institutional investors own 68.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WRB shares. Wolfe Research cut shares of W.R. Berkley from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 1st. Weiss Ratings reissued a "buy (b-)" rating on shares of W.R. Berkley in a research report on Monday, August 17th. Oppenheimer set a $70.00 price target on shares of W.R. Berkley in a report on Tuesday, July 21st. Keefe, Bruyette & Woods reissued a "market perform" rating on shares of W.R. Berkley in a report on Tuesday, July 21st. Finally, 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 research report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $70.94.

W.R. Berkley Price Performance

WRB opened at $68.15 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market capitalization of $25.30 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.28. The stock's 50 day moving average price is $71.15 and its 200-day moving average price is $68.80. W.R. Berkley Corporation has a 52-week low of $62.87 and a 52-week high of $78.96.

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

About W.R. Berkley

W. R. Berkley Corporation NYSE: WRB is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company's product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.

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