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W.R. Berkley Corporation $WRB Shares Bought by Allianz Asset Management GmbH

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Key Points

  • Allianz Asset Management GmbH increased its stake in W.R. Berkley Corporation by 12.7%, owning 183,766 shares valued at $13.5 million after purchasing an additional 20,665 shares in the second quarter.
  • W.R. Berkley reported $1.10 EPS for the quarter, surpassing analysts' expectations by $0.03, with revenue remaining consistent at $3.16 billion.
  • The company's recent quarterly dividend was $0.09 per share, equating to an annualized yield of 0.5%, while its dividend payout ratio stands at 8.20%.
  • MarketBeat previews the top five stocks to own by November 1st.

Allianz Asset Management GmbH grew its stake in shares of W.R. Berkley Corporation (NYSE:WRB - Free Report) by 12.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 183,766 shares of the insurance provider's stock after purchasing an additional 20,665 shares during the period. Allianz Asset Management GmbH's holdings in W.R. Berkley were worth $13,501,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. New York State Teachers Retirement System boosted its position in shares of W.R. Berkley by 1.8% during the 2nd quarter. New York State Teachers Retirement System now owns 259,625 shares of the insurance provider's stock worth $19,075,000 after purchasing an additional 4,694 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of W.R. Berkley by 2.1% during the 2nd quarter. Ritholtz Wealth Management now owns 8,391 shares of the insurance provider's stock worth $617,000 after purchasing an additional 173 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of W.R. Berkley by 38.1% during the 2nd quarter. Harbour Investments Inc. now owns 6,297 shares of the insurance provider's stock worth $463,000 after purchasing an additional 1,737 shares in the last quarter. Sagespring Wealth Partners LLC boosted its position in shares of W.R. Berkley by 9.3% during the 2nd quarter. Sagespring Wealth Partners LLC now owns 7,711 shares of the insurance provider's stock worth $567,000 after purchasing an additional 657 shares in the last quarter. Finally, NorthRock Partners LLC boosted its position in shares of W.R. Berkley by 25.1% during the 2nd quarter. NorthRock Partners LLC now owns 5,058 shares of the insurance provider's stock worth $373,000 after purchasing an additional 1,015 shares in the last quarter. 68.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on WRB shares. TD Cowen lowered shares of W.R. Berkley from a "buy" rating to a "hold" rating and set a $78.00 target price on the stock. in a research report on Friday, June 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of W.R. Berkley in a research report on Wednesday, October 8th. Cantor Fitzgerald upgraded shares of W.R. Berkley to a "strong-buy" rating in a research report on Wednesday, August 13th. Barclays reiterated an "underweight" rating and issued a $73.00 price objective on shares of W.R. Berkley in a research report on Wednesday, October 8th. Finally, UBS Group set a $87.00 price objective on shares of W.R. Berkley and gave the stock a "buy" rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $73.69.

Get Our Latest Report on W.R. Berkley

W.R. Berkley Price Performance

NYSE:WRB opened at $73.69 on Tuesday. The firm has a market cap of $27.95 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 2.55 and a beta of 0.42. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. The company's 50-day moving average is $73.69 and its two-hundred day moving average is $71.92. W.R. Berkley Corporation has a 12-month low of $55.97 and a 12-month high of $78.48.

W.R. Berkley (NYSE:WRB - Get Free Report) last released its earnings results on Monday, October 20th. The insurance provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.03. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.16 billion. W.R. Berkley had a net margin of 12.32% and a return on equity of 18.83%. The firm's quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 EPS. Research analysts expect that W.R. Berkley Corporation will post 4.33 EPS for the current year.

W.R. Berkley Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, September 22nd. W.R. Berkley's dividend payout ratio is 8.20%.

W.R. Berkley Company Profile

(Free Report)

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writers worldwide. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines, and specialty personal lines.

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Institutional Ownership by Quarter for W.R. Berkley (NYSE:WRB)

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