W.R. Berkley Corporation $WRB Position Reduced by TD Asset Management Inc

TD Asset Management Inc trimmed its stake in shares of W.R. Berkley Corporation (NYSE:WRB) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 555,641 shares of the insurance provider’s stock after selling 40,927 shares during the quarter. TD Asset Management Inc owned approximately 0.15% of W.R. Berkley worth $40,823,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in WRB. NorthRock Partners LLC raised its holdings in shares of W.R. Berkley by 25.1% during the second quarter. NorthRock Partners LLC now owns 5,058 shares of the insurance provider’s stock worth $373,000 after purchasing an additional 1,015 shares during the period. Verdence Capital Advisors LLC raised its holdings in shares of W.R. Berkley by 9.7% during the second quarter. Verdence Capital Advisors LLC now owns 77,529 shares of the insurance provider’s stock worth $5,696,000 after purchasing an additional 6,834 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of W.R. Berkley by 12.1% during the second quarter. Sequoia Financial Advisors LLC now owns 4,088 shares of the insurance provider’s stock worth $300,000 after purchasing an additional 442 shares during the period. Vest Financial LLC raised its holdings in shares of W.R. Berkley by 58.2% during the second quarter. Vest Financial LLC now owns 69,890 shares of the insurance provider’s stock worth $5,135,000 after purchasing an additional 25,706 shares during the period. Finally, MGO One Seven LLC raised its holdings in shares of W.R. Berkley by 144.3% during the second quarter. MGO One Seven LLC now owns 28,840 shares of the insurance provider’s stock worth $2,119,000 after purchasing an additional 17,033 shares during the period. 68.82% of the stock is currently owned by institutional investors.

W.R. Berkley Stock Down 3.6%

W.R. Berkley stock opened at $73.64 on Friday. The stock has a market cap of $27.93 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 2.63 and a beta of 0.42. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average price is $73.55 and its two-hundred day moving average price is $71.81. W.R. Berkley Corporation has a 52 week low of $55.97 and a 52 week high of $78.48.

W.R. Berkley (NYSE:WRB) last released its earnings results on Monday, July 21st. The insurance provider reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.10 billion. W.R. Berkley had a net margin of 12.32% and a return on equity of 18.83%. During the same quarter last year, the company earned $1.04 EPS. On average, analysts expect that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.

W.R. Berkley Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $0.36 annualized dividend and a yield of 0.5%. W.R. Berkley’s dividend payout ratio (DPR) is presently 8.20%.

Wall Street Analyst Weigh In

WRB has been the topic of a number of research reports. UBS Group set a $87.00 target price on shares of W.R. Berkley and gave the stock a “buy” rating in a report on Wednesday, October 8th. Cantor Fitzgerald raised shares of W.R. Berkley to a “strong-buy” rating in a report on Wednesday, August 13th. TD Cowen cut shares of W.R. Berkley from a “buy” rating to a “hold” rating and set a $78.00 price objective on the stock. in a report on Friday, June 27th. Barclays reaffirmed an “underweight” rating and issued a $73.00 price objective on shares of W.R. Berkley in a report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price objective on shares of W.R. Berkley from $68.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.69.

About W.R. Berkley

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writers worldwide. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines, and specialty personal lines.