Resources Management Corp CT ADV Purchases 736 Shares of W. R. Berkley Co. (NYSE:WRB)

Resources Management Corp CT ADV increased its position in W. R. Berkley Co. (NYSE:WRB) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,356 shares of the insurance provider’s stock after purchasing an additional 736 shares during the quarter. Resources Management Corp CT ADV’s holdings in W. R. Berkley were worth $1,207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WRB. Confluence Investment Management LLC bought a new position in W. R. Berkley in the first quarter worth $82,706,000. The Manufacturers Life Insurance Company lifted its position in W. R. Berkley by 89.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,904,555 shares of the insurance provider’s stock worth $134,690,000 after purchasing an additional 898,027 shares during the period. Maren Capital LLC bought a new position in W. R. Berkley in the fourth quarter worth $37,915,000. Principal Financial Group Inc. lifted its position in W. R. Berkley by 83.0% in the second quarter. Principal Financial Group Inc. now owns 1,180,413 shares of the insurance provider’s stock worth $92,757,000 after purchasing an additional 535,471 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in W. R. Berkley by 190.4% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 477,774 shares of the insurance provider’s stock worth $42,254,000 after purchasing an additional 313,234 shares during the period. 68.82% of the stock is owned by institutional investors.

W. R. Berkley Stock Performance

Shares of NYSE:WRB opened at $57.44 on Tuesday. W. R. Berkley Co. has a twelve month low of $41.37 and a twelve month high of $61.28. The firm has a market cap of $22.03 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.05 and a beta of 0.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38. The business has a fifty day moving average of $56.82 and a 200-day moving average of $72.82.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.12. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $2.84 billion. W. R. Berkley had a return on equity of 21.34% and a net margin of 12.05%. The company’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the company earned $1.14 earnings per share. On average, equities research analysts predict that W. R. Berkley Co. will post 4.03 EPS for the current fiscal year.

W. R. Berkley Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be given a $0.08 dividend. The ex-dividend date is Monday, September 23rd. This represents a $0.32 dividend on an annualized basis and a yield of 0.56%. W. R. Berkley’s payout ratio is 8.51%.

Analysts Set New Price Targets

Several research firms have issued reports on WRB. StockNews.com lowered W. R. Berkley from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Barclays began coverage on W. R. Berkley in a research note on Wednesday, September 4th. They set an “underweight” rating and a $56.00 price objective for the company. The Goldman Sachs Group lowered W. R. Berkley from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $88.00 to $83.00 in a research note on Thursday, June 13th. Royal Bank of Canada reiterated a “sector perform” rating and set a $57.00 price objective on shares of W. R. Berkley in a research note on Tuesday, July 23rd. Finally, TD Cowen began coverage on W. R. Berkley in a research note on Monday, July 1st. They set a “buy” rating and a $103.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $77.70.

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.