W. R. Berkley Corp (NYSE:WRB) Position Increased by YorkBridge Wealth Partners LLC
YorkBridge Wealth Partners LLC lifted its holdings in shares of W. R. Berkley Corp (NYSE:WRB) by 53.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 146,316 shares of the insurance provider’s stock after acquiring an additional 50,872 shares during the quarter. W. R. Berkley accounts for about 4.3% of YorkBridge Wealth Partners LLC’s investment portfolio, making the stock its biggest position. YorkBridge Wealth Partners LLC owned approximately 0.08% of W. R. Berkley worth $9,647,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategy Asset Managers LLC purchased a new stake in shares of W. R. Berkley during the first quarter worth about $66,000. Truvestments Capital LLC acquired a new position in W. R. Berkley in the first quarter worth about $66,000. Citizens Financial Group Inc RI acquired a new position in W. R. Berkley in the first quarter worth about $74,000. AdvisorNet Financial Inc grew its stake in W. R. Berkley by 263.3% in the second quarter. AdvisorNet Financial Inc now owns 1,217 shares of the insurance provider’s stock worth $80,000 after purchasing an additional 882 shares in the last quarter. Finally, Bienville Capital Management LLC acquired a new position in W. R. Berkley in the first quarter worth about $204,000. 72.63% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently commented on WRB shares. Boenning Scattergood reiterated a “hold” rating on shares of First Commonwealth Financial in a research note on Wednesday, April 24th. ValuEngine upgraded XPO Logistics from a “strong sell” rating to a “sell” rating in a research note on Thursday, April 4th. Royal Bank of Canada upgraded Freeport-McMoRan from an “underperform” rating to a “sector perform” rating and lifted their price target for the stock from $12.00 to $14.00 in a research note on Wednesday, July 24th. Zacks Investment Research downgraded ZEALAND PHARMA/S from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Deutsche Bank reiterated a “hold” rating and issued a GBX 1,775 ($23.19) price target on shares of in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. W. R. Berkley presently has an average rating of “Hold” and a consensus target price of $61.34.
W. R. Berkley (NYSE:WRB) last issued its earnings results on Tuesday, July 23rd. The insurance provider reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.18. W. R. Berkley had a return on equity of 10.75% and a net margin of 8.81%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. W. R. Berkley’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, analysts anticipate that W. R. Berkley Corp will post 2.82 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th were paid a $0.11 dividend. This is an increase from W. R. Berkley’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Monday, June 17th. W. R. Berkley’s payout ratio is presently 16.48%.
In other news, Director Mark Ellwood Brockbank sold 77,000 shares of W. R. Berkley stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $66.61, for a total transaction of $5,128,970.00. Following the sale, the director now owns 51,329 shares of the company’s stock, valued at $3,419,024.69. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 21.70% of the company’s stock.
About W. R. Berkley
W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.
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