Swiss National Bank Has $24.47 Million Position in W.R. Berkley Corporation (WRB)

Swiss National Bank grew its stake in W.R. Berkley Corporation (NYSE:WRB) by 2.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 353,748 shares of the insurance provider’s stock after purchasing an additional 9,600 shares during the period. Swiss National Bank owned approximately 0.29% of W.R. Berkley Corporation worth $24,469,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. World Asset Management Inc grew its stake in shares of W.R. Berkley Corporation by 0.6% in the 2nd quarter. World Asset Management Inc now owns 6,689 shares of the insurance provider’s stock valued at $463,000 after purchasing an additional 39 shares during the period. Municipal Employees Retirement System of Michigan grew its stake in shares of W.R. Berkley Corporation by 0.3% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 45,000 shares of the insurance provider’s stock valued at $3,178,000 after purchasing an additional 130 shares during the period. US Bancorp DE grew its stake in shares of W.R. Berkley Corporation by 1.9% in the 2nd quarter. US Bancorp DE now owns 7,167 shares of the insurance provider’s stock valued at $495,000 after purchasing an additional 137 shares during the period. IFP Advisors Inc grew its stake in shares of W.R. Berkley Corporation by 6.9% in the 2nd quarter. IFP Advisors Inc now owns 2,207 shares of the insurance provider’s stock valued at $153,000 after purchasing an additional 143 shares during the period. Finally, Atlantic Trust Group LLC grew its stake in shares of W.R. Berkley Corporation by 1.4% in the 1st quarter. Atlantic Trust Group LLC now owns 11,348 shares of the insurance provider’s stock valued at $802,000 after purchasing an additional 156 shares during the period. Institutional investors own 71.18% of the company’s stock.

W.R. Berkley Corporation (NYSE:WRB) opened at 65.50 on Friday. The firm has a market cap of $7.94 billion, a P/E ratio of 13.91 and a beta of 0.88. The firm’s 50-day moving average price is $67.02 and its 200 day moving average price is $68.70. W.R. Berkley Corporation has a 12-month low of $55.55 and a 12-month high of $73.17.

W.R. Berkley Corporation (NYSE:WRB) last posted its earnings results on Tuesday, July 25th. The insurance provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.10). The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.61 billion. W.R. Berkley Corporation had a return on equity of 7.58% and a net margin of 7.86%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 EPS. Analysts forecast that W.R. Berkley Corporation will post $2.96 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be paid a dividend of $0.14 per share. The ex-dividend date is Tuesday, September 19th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.85%. W.R. Berkley Corporation’s payout ratio is presently 11.84%.

W.R. Berkley Corporation announced that its board has authorized a share repurchase program on Tuesday, August 8th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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A number of equities research analysts recently commented on WRB shares. Morgan Stanley restated an “equal weight” rating and set a $70.00 price target (up from $68.00) on shares of W.R. Berkley Corporation in a research report on Friday, July 7th. Keefe, Bruyette & Woods set a $67.00 price target on W.R. Berkley Corporation and gave the stock a “hold” rating in a research report on Thursday, July 6th. BidaskClub lowered W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered W.R. Berkley Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $72.00 price target on shares of W.R. Berkley Corporation in a research report on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $67.14.

W.R. Berkley Corporation Profile

W. R. Berkley Corporation is an insurance holding company. It operates through two segments: Insurance and Reinsurance-Global. The Insurance segment consists of its commercial insurance business operations, comprising excess and surplus lines, and admitted lines, throughout the United States, as well as its insurance business operations in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.

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

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