W.R. Berkley Corporation $WRB Shares Sold by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada reduced its W.R. Berkley position by 51.6% in the second quarter, selling 18,836 shares and retaining 17,680 shares valued at approximately $1.25 million. Institutional investors and hedge funds own 68.82% of the company.
• W.R. Berkley reported quarterly earnings of $1.27 per share, exceeding the $1.08 consensus estimate, while revenue reached $3.72 billion, up 2.4% year over year and above expectations.
• Shares opened at $69.84, near the analysts’ average price target of $70.94. Analyst sentiment remains cautious, with a consensus rating of “Reduce” based on three Buy, nine Hold, and six Sell ratings.

TD Waterhouse Canada Inc. trimmed its holdings in shares of W.R. Berkley Corporation (NYSE:WRB - Free Report) by 51.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,680 shares of the insurance provider's stock after selling 18,836 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in W.R. Berkley were worth $1,250,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Entrust Financial LLC purchased a new position in shares of W.R. Berkley during the 4th quarter worth approximately $25,000. Hazlett Burt & Watson Inc. raised its holdings in shares of W.R. Berkley by 140.0% in the 4th 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 period. Allied Private Wealth LLC purchased a new stake in shares of W.R. Berkley in the 2nd quarter valued at $29,000. DV Equities LLC acquired a new position in W.R. Berkley during the 4th quarter worth about $29,000. Finally, Triumph Capital Management purchased a new position in W.R. Berkley during the 3rd quarter valued at about $35,000. Institutional investors and hedge funds own 68.82% of the company's stock.

W.R. Berkley Trading Up 1.0%

Shares of NYSE:WRB opened at $69.84 on Wednesday. W.R. Berkley Corporation has a 52 week low of $62.87 and a 52 week high of $78.96. The company's 50 day moving average is $71.06 and its two-hundred day moving average is $68.77. The company has a market cap of $25.93 billion, a PE ratio of 14.34, a P/E/G ratio of 1.72 and a beta of 0.28. The company has a current ratio of 0.37, a quick 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 EPS 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 the consensus estimate of $3.28 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The company's revenue was up 2.4% compared to the same quarter last year. Equities analysts predict that W.R. Berkley Corporation will post 4.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on WRB shares. Atlantic Securities set a $74.00 price target on shares of W.R. Berkley in a research note on Wednesday, July 15th. Weiss Ratings restated a "buy (b-)" rating on shares of W.R. Berkley in a report on Monday, August 17th. Evercore reaffirmed an "underperform" rating and set a $68.00 target price on shares of W.R. Berkley in a research note on Friday, July 10th. Keefe, Bruyette & Woods reissued a "market perform" rating on shares of W.R. Berkley in a research report on Tuesday, July 21st. Finally, UBS Group reiterated a "neutral" rating and issued a $77.00 price objective (up from $71.00) on shares of W.R. Berkley in a research note on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $70.94.

W.R. Berkley Profile

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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