15,570 Shares in W. R. Berkley Co. (NYSE:WRB) Bought by Echo Street Capital Management LLC

Echo Street Capital Management LLC bought a new position in W. R. Berkley Co. (NYSE:WRBGet Rating) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 15,570 shares of the insurance provider’s stock, valued at approximately $1,037,000.

Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its holdings in W. R. Berkley by 57.5% in the 1st quarter. Russell Investments Group Ltd. now owns 95,446 shares of the insurance provider’s stock worth $6,354,000 after purchasing an additional 34,852 shares during the period. Integrated Advisors Network LLC bought a new position in W. R. Berkley in the 1st quarter worth $284,000. Baker Tilly Wealth Management LLC raised its holdings in W. R. Berkley by 73.6% during the first quarter. Baker Tilly Wealth Management LLC now owns 17,363 shares of the insurance provider’s stock valued at $1,156,000 after acquiring an additional 7,361 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in W. R. Berkley during the fourth quarter valued at about $5,007,000. Finally, Los Angeles Capital Management LLC raised its holdings in W. R. Berkley by 53.1% during the first quarter. Los Angeles Capital Management LLC now owns 406,585 shares of the insurance provider’s stock valued at $27,074,000 after acquiring an additional 141,051 shares during the period. 69.05% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Mark Ellwood Brockbank purchased 1,434 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was bought at an average price of $61.85 per share, for a total transaction of $88,692.90. Following the completion of the transaction, the director now owns 6,000 shares in the company, valued at approximately $371,100. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 22.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Argus assumed coverage on W. R. Berkley in a report on Wednesday, August 3rd. They set a “buy” rating and a $72.00 price target on the stock. Jefferies Financial Group raised their price target on W. R. Berkley from $67.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 12th. Wells Fargo & Company raised their price target on W. R. Berkley to $83.00 in a report on Friday, July 22nd. Keefe, Bruyette & Woods raised W. R. Berkley from a “market perform” rating to an “outperform” rating and raised their price target for the company from $77.00 to $80.00 in a report on Monday, September 5th. Finally, Morgan Stanley raised their price target on W. R. Berkley from $70.00 to $72.00 and gave the company an “equal weight” rating in a report on Friday, August 19th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, W. R. Berkley presently has an average rating of “Moderate Buy” and an average price target of $72.27.

W. R. Berkley Trading Down 0.6 %

Shares of WRB stock opened at $67.63 on Monday. The stock has a market capitalization of $17.94 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.83 and a beta of 0.62. W. R. Berkley Co. has a 12-month low of $47.13 and a 12-month high of $72.32. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.43. The stock’s 50-day moving average price is $65.03 and its 200-day moving average price is $66.16.

W. R. Berkley (NYSE:WRBGet Rating) last released its quarterly earnings results on Thursday, July 21st. The insurance provider reported $1.12 EPS for the quarter, topping the consensus estimate of $0.84 by $0.28. The company had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.56 billion. W. R. Berkley had a return on equity of 17.26% and a net margin of 12.71%. During the same quarter last year, the business posted $0.78 earnings per share. Equities research analysts predict that W. R. Berkley Co. will post 4.1 EPS for the current fiscal year.

W. R. Berkley Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 7th. Investors of record on Monday, June 27th were given a $0.10 dividend. The ex-dividend date was Friday, June 24th. This represents a $0.40 annualized dividend and a yield of 0.59%. This is a positive change from W. R. Berkley’s previous quarterly dividend of $0.09. W. R. Berkley’s dividend payout ratio (DPR) is currently 8.42%.

W. R. Berkley Profile

(Get Rating)

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and general and professional liability lines.

Further Reading

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

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