Markel Corp Takes Position in W.R. Berkley Corporation (NYSE:WRB)

Markel Corp acquired a new position in W.R. Berkley Corporation (NYSE:WRB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,000 shares of the insurance provider’s stock, valued at approximately $553,000.

A number of other institutional investors have also modified their holdings of WRB. Janney Montgomery Scott LLC raised its position in shares of W.R. Berkley Corporation by 59.5% in the first quarter. Janney Montgomery Scott LLC now owns 26,024 shares of the insurance provider’s stock worth $1,838,000 after buying an additional 9,704 shares during the last quarter. AMI Investment Management Inc. raised its position in shares of W.R. Berkley Corporation by 52.6% in the first quarter. AMI Investment Management Inc. now owns 101,383 shares of the insurance provider’s stock worth $4,043,000 after buying an additional 34,943 shares during the last quarter. ProShare Advisors LLC raised its position in shares of W.R. Berkley Corporation by 593.3% in the first quarter. ProShare Advisors LLC now owns 156,450 shares of the insurance provider’s stock worth $11,050,000 after buying an additional 133,885 shares during the last quarter. Speece Thorson Capital Group Inc. raised its position in shares of W.R. Berkley Corporation by 2.8% in the first quarter. Speece Thorson Capital Group Inc. now owns 147,040 shares of the insurance provider’s stock worth $10,385,000 after buying an additional 3,974 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of W.R. Berkley Corporation by 4.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,548 shares of the insurance provider’s stock worth $168,000 after buying an additional 102 shares during the period. 72.00% of the stock is owned by institutional investors and hedge funds.

W.R. Berkley Corporation (NYSE WRB) traded down 0.23% during midday trading on Friday, hitting $68.38. 386,871 shares of the company traded hands. W.R. Berkley Corporation has a 12-month low of $55.55 and a 12-month high of $73.17. The stock’s 50-day moving average price is $69.20 and its 200 day moving average price is $69.13. The company has a market capitalization of $8.29 billion, a price-to-earnings ratio of 14.52 and a beta of 0.87.

W.R. Berkley Corporation (NYSE:WRB) last released its quarterly earnings results on Tuesday, July 25th. The insurance provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by $0.10. W.R. Berkley Corporation had a net margin of 7.86% and a return on equity of 7.58%. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts forecast that W.R. Berkley Corporation will post $2.94 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Tuesday, September 19th. W.R. Berkley Corporation’s payout ratio is currently 11.84%.

W.R. Berkley Corporation announced that its Board of Directors has approved a stock repurchase program on Tuesday, August 8th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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WRB has been the subject of a number of research analyst reports. BidaskClub raised shares of W.R. Berkley Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $70.00 price target (up from $68.00) on shares of W.R. Berkley Corporation in a research note on Friday, July 7th. Zacks Investment Research raised shares of W.R. Berkley Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 30th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $67.00 target price on shares of W.R. Berkley Corporation in a research report on Wednesday, May 17th. Finally, Boenning Scattergood reissued a “hold” rating on shares of W.R. Berkley Corporation in a research report on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $63.83.

W.R. Berkley Corporation Company Profile

W. R. Berkley Corporation is an insurance holding company. It operates through two segments: Insurance and Reinsurance-Global. The Insurance segment consists of its commercial insurance business operations, comprising excess and surplus lines, and admitted lines, throughout the United States, as well as its insurance business operations in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.

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

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