Rafferty Asset Management LLC Has $1.79 Million Position in W. R. Berkley Corp (WRB)

Rafferty Asset Management LLC lowered its position in shares of W. R. Berkley Corp (NYSE:WRB) by 10.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,367 shares of the insurance provider’s stock after selling 2,529 shares during the period. Rafferty Asset Management LLC’s holdings in W. R. Berkley were worth $1,788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in WRB. Janus Henderson Group PLC increased its position in shares of W. R. Berkley by 182.1% during the second quarter. Janus Henderson Group PLC now owns 3,349,020 shares of the insurance provider’s stock valued at $242,502,000 after acquiring an additional 2,162,031 shares in the last quarter. Millennium Management LLC increased its position in shares of W. R. Berkley by 649.0% during the second quarter. Millennium Management LLC now owns 450,061 shares of the insurance provider’s stock valued at $32,589,000 after acquiring an additional 389,971 shares in the last quarter. BlackRock Inc. increased its position in shares of W. R. Berkley by 2.3% during the third quarter. BlackRock Inc. now owns 10,716,398 shares of the insurance provider’s stock valued at $856,561,000 after acquiring an additional 236,781 shares in the last quarter. Scout Investments Inc. increased its position in shares of W. R. Berkley by 53.7% during the third quarter. Scout Investments Inc. now owns 497,458 shares of the insurance provider’s stock valued at $39,762,000 after acquiring an additional 173,888 shares in the last quarter. Finally, Cornerstone Wealth Management LLC bought a new stake in shares of W. R. Berkley during the third quarter valued at approximately $2,499,000. 74.23% of the stock is owned by institutional investors.

Shares of WRB stock opened at $78.45 on Friday. W. R. Berkley Corp has a 12-month low of $66.51 and a 12-month high of $80.68. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market capitalization of $9.61 billion, a P/E ratio of 31.89, a P/E/G ratio of 2.21 and a beta of 0.83.

W. R. Berkley (NYSE:WRB) last issued its earnings results on Tuesday, October 23rd. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.28. W. R. Berkley had a net margin of 8.64% and a return on equity of 9.03%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same quarter last year, the company posted $1.26 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities analysts predict that W. R. Berkley Corp will post 3.95 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Wednesday, November 28th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, November 27th. W. R. Berkley’s dividend payout ratio is currently 24.39%.

Several brokerages recently issued reports on WRB. Credit Suisse Group began coverage on shares of W. R. Berkley in a report on Tuesday, August 7th. They issued a “neutral” rating and a $78.00 target price on the stock. Zacks Investment Research upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Thursday, September 27th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $78.50.

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About W. R. Berkley

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

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

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