Teachers Retirement System of The State of Kentucky Makes New Investment in W. R. Berkley Co. (NYSE:WRB)
Teachers Retirement System of The State of Kentucky acquired a new position in shares of W. R. Berkley Co. (NYSE:WRB – Get Rating) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 67,332 shares of the insurance provider’s stock, valued at approximately $4,349,000.
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Several other institutional investors also recently bought and sold shares of WRB. James Investment Research Inc. acquired a new position in shares of W. R. Berkley during the third quarter worth $27,000. Bogart Wealth LLC lifted its position in shares of W. R. Berkley by 43.2% during the third quarter. Bogart Wealth LLC now owns 451 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 136 shares in the last quarter. Red Cedar Capital LLC acquired a new position in shares of W. R. Berkley during the third quarter worth $30,000. First Manhattan Co. raised its holdings in W. R. Berkley by 50.0% in the first quarter. First Manhattan Co. now owns 486 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 162 shares in the last quarter. Finally, SRS Capital Advisors Inc. acquired a new stake in W. R. Berkley in the second quarter valued at $34,000. 71.66% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts recently issued reports on WRB shares. Morgan Stanley upped their price target on shares of W. R. Berkley from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday, November 22nd. BMO Capital Markets started coverage on shares of W. R. Berkley in a report on Thursday, January 19th. They issued a “market perform” rating and a $76.00 price target on the stock. Bank of America raised shares of W. R. Berkley from a “neutral” rating to a “buy” rating and cut their price target for the company from $77.00 to $76.00 in a report on Wednesday. Finally, StockNews.com assumed coverage on shares of W. R. Berkley in a report on Thursday. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.09.
W. R. Berkley Stock Down 3.0 %
W. R. Berkley stock opened at $61.00 on Friday. The company has a 50-day simple moving average of $67.92 and a 200-day simple moving average of $69.75. The firm has a market capitalization of $16.07 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.37 and a beta of 0.62. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.38 and a current ratio of 0.38. W. R. Berkley Co. has a one year low of $59.50 and a one year high of $76.99.
W. R. Berkley (NYSE:WRB – Get Rating) last released its quarterly earnings results on Thursday, January 26th. The insurance provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.07 by $0.09. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.92 billion. W. R. Berkley had a net margin of 12.37% and a return on equity of 18.50%. During the same quarter in the prior year, the firm earned $1.02 earnings per share. As a group, equities analysts expect that W. R. Berkley Co. will post 4.9 earnings per share for the current year.
W. R. Berkley Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 9th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $0.40 dividend on an annualized basis and a yield of 0.66%. W. R. Berkley’s dividend payout ratio is presently 8.08%.
W. R. Berkley Profile
W.R. Berkley Corp. is an insurance holding company, which engages in the property casualty insurance business. It operates through the following segments: Insurance and Reinsurance & Monoline Excess. The Insurance segment includes excess and surplus lines, admitted lines, and specialty personal lines throughout the United States, as well as insurance businesses in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia, and Australia.
See Also
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