Mirae Asset Global Investments Co. Ltd. Acquires 10,893 Shares of W.R. Berkley Corporation $WRB

Mirae Asset Global Investments Co. Ltd. boosted its holdings in W.R. Berkley Corporation (NYSE:WRBFree Report) by 27.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,121 shares of the insurance provider’s stock after acquiring an additional 10,893 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in W.R. Berkley were worth $3,514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Compass Financial Services Inc bought a new stake in W.R. Berkley in the third quarter valued at about $26,000. Triumph Capital Management bought a new stake in W.R. Berkley in the third quarter valued at about $35,000. Physician Wealth Advisors Inc. increased its stake in W.R. Berkley by 40.2% in the third quarter. Physician Wealth Advisors Inc. now owns 523 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 150 shares during the period. Westside Investment Management Inc. increased its stake in W.R. Berkley by 100.0% in the third quarter. Westside Investment Management Inc. now owns 528 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 264 shares during the period. Finally, Cary Street Partners Financial LLC raised its stake in W.R. Berkley by 691.9% during the second quarter. Cary Street Partners Financial LLC now owns 586 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 512 shares in the last quarter. Institutional investors own 68.82% of the company’s stock.

More W.R. Berkley News

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W.R. Berkley Stock Performance

W.R. Berkley stock opened at $65.35 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a fifty day moving average price of $68.17 and a two-hundred day moving average price of $70.70. W.R. Berkley Corporation has a 52-week low of $63.67 and a 52-week high of $78.96. The firm has a market capitalization of $24.47 billion, a P/E ratio of 14.68, a P/E/G ratio of 2.77 and a beta of 0.37.

W.R. Berkley (NYSE:WRBGet Free Report) last announced its earnings results on Tuesday, April 21st. The insurance provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.13 by $0.17. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.18 billion. W.R. Berkley had a return on equity of 18.17% and a net margin of 12.10%.The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. As a group, analysts anticipate that W.R. Berkley Corporation will post 4.55 EPS for the current fiscal year.

W.R. Berkley Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, February 23rd. W.R. Berkley’s dividend payout ratio is presently 8.09%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Argus dropped their price objective on W.R. Berkley from $82.00 to $76.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Morgan Stanley dropped their price objective on W.R. Berkley from $73.00 to $72.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. Barclays dropped their price objective on W.R. Berkley from $64.00 to $62.00 and set an “underweight” rating for the company in a research note on Wednesday, April 8th. Bank of America dropped their price objective on W.R. Berkley from $68.00 to $67.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods dropped their price objective on W.R. Berkley from $74.00 to $66.00 and set a “market perform” rating for the company in a research note on Wednesday, April 1st. Three investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $68.75.

Get Our Latest Stock Analysis on W.R. Berkley

Insider Activity at W.R. Berkley

In other W.R. Berkley news, major shareholder Sumitomo Insurance Co L. Mitsui bought 112,176 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were bought at an average price of $72.20 per share, for a total transaction of $8,099,107.20. Following the completion of the acquisition, the insider owned 58,780,450 shares of the company’s stock, valued at approximately $4,243,948,490. This trade represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders acquired a total of 4,848,946 shares of company stock worth $335,960,638 in the last quarter. 23.00% of the stock is currently owned by corporate insiders.

W.R. Berkley Company Profile

(Free Report)

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.

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

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