Bank of Nova Scotia Buys 92,646 Shares of W. R. Berkley Co. (NYSE:WRB)

Bank of Nova Scotia raised its stake in shares of W. R. Berkley Co. (NYSE:WRBGet Rating) by 344.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,522 shares of the insurance provider’s stock after purchasing an additional 92,646 shares during the quarter. Bank of Nova Scotia’s holdings in W. R. Berkley were worth $8,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. FinTrust Capital Advisors LLC bought a new stake in W. R. Berkley during the second quarter valued at approximately $25,000. Parkside Financial Bank & Trust raised its stake in shares of W. R. Berkley by 134.6% during the second quarter. Parkside Financial Bank & Trust now owns 427 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 245 shares in the last quarter. Clear Street Markets LLC raised its stake in shares of W. R. Berkley by 409.3% during the second quarter. Clear Street Markets LLC now owns 438 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 352 shares in the last quarter. Wolff Wiese Magana LLC raised its stake in shares of W. R. Berkley by 49.3% during the first quarter. Wolff Wiese Magana LLC now owns 448 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 148 shares in the last quarter. Finally, Clearstead Advisors LLC raised its stake in shares of W. R. Berkley by 826.0% during the first quarter. Clearstead Advisors LLC now owns 463 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 413 shares in the last quarter. 69.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on WRB. UBS Group lifted their price target on shares of W. R. Berkley to $84.00 in a research note on Friday, November 4th. Keefe, Bruyette & Woods raised shares of W. R. Berkley from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $77.00 to $80.00 in a research note on Monday, September 5th. Wells Fargo & Company lifted their price target on shares of W. R. Berkley from $83.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 12th. Morgan Stanley lifted their target price on shares of W. R. Berkley from $70.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Friday, August 19th. Finally, Argus initiated coverage on shares of W. R. Berkley in a research note on Wednesday, August 3rd. They issued a “buy” rating and a $72.00 target price on the stock. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $76.42.

W. R. Berkley Stock Performance

NYSE:WRB opened at $69.77 on Monday. The stock has a market cap of $18.52 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 1.90 and a beta of 0.64. The firm’s fifty day simple moving average is $68.97 and its 200 day simple moving average is $67.45. W. R. Berkley Co. has a twelve month low of $50.44 and a twelve month high of $76.06. The company has a quick ratio of 0.39, a current ratio of 0.37 and a debt-to-equity ratio of 0.45.

W. R. Berkley (NYSE:WRBGet Rating) last released its quarterly earnings results on Monday, October 24th. The insurance provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.44 billion. W. R. Berkley had a net margin of 12.05% and a return on equity of 17.98%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 earnings per share. As a group, research analysts predict that W. R. Berkley Co. will post 4.29 EPS for the current year.

W. R. Berkley Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 26th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.57%. The ex-dividend date was Friday, September 23rd. W. R. Berkley’s dividend payout ratio (DPR) is currently 8.62%.

W. R. Berkley Company Profile

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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.

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

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