AustralianSuper Pty Ltd Makes New $9.34 Million Investment in W.R. Berkley Corporation $WRB

AustralianSuper Pty Ltd acquired a new position in shares of W.R. Berkley Corporation (NYSE:WRB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 127,128 shares of the insurance provider’s stock, valued at approximately $9,340,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hilltop National Bank acquired a new stake in W.R. Berkley during the 2nd quarter worth about $27,000. Spectrum Wealth Counsel LLC acquired a new stake in W.R. Berkley during the 1st quarter worth about $29,000. N.E.W. Advisory Services LLC acquired a new stake in W.R. Berkley during the 1st quarter worth about $36,000. Keystone Global Partners LLC acquired a new position in shares of W.R. Berkley in the 1st quarter valued at about $41,000. Finally, Whipplewood Advisors LLC increased its holdings in shares of W.R. Berkley by 148.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 616 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 368 shares during the period. Institutional investors and hedge funds own 68.82% of the company’s stock.

W.R. Berkley Stock Up 0.2%

Shares of W.R. Berkley stock opened at $75.19 on Tuesday. The stock has a market capitalization of $28.52 billion, a P/E ratio of 15.80, a PEG ratio of 2.88 and a beta of 0.42. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $74.11 and a two-hundred day moving average price of $72.24. W.R. Berkley Corporation has a 12-month low of $55.97 and a 12-month high of $78.48.

W.R. Berkley (NYSE:WRB) last announced its earnings results on Monday, October 20th. The insurance provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.16 billion. W.R. Berkley had a return on equity of 19.35% and a net margin of 13.01%.The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. Equities analysts expect that W.R. Berkley Corporation will post 4.33 earnings per share for the current year.

W.R. Berkley Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. W.R. Berkley’s dividend payout ratio is presently 7.56%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on WRB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of W.R. Berkley in a report on Wednesday, October 8th. UBS Group set a $87.00 price target on W.R. Berkley and gave the company a “buy” rating in a research note on Wednesday, October 8th. Wolfe Research began coverage on W.R. Berkley in a research note on Monday, September 15th. They issued a “peer perform” rating for the company. Barclays reissued an “underweight” rating and issued a $73.00 price target on shares of W.R. Berkley in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group lowered their price target on W.R. Berkley from $76.00 to $75.00 and set a “hold” rating for the company in a research note on Tuesday, October 21st. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.46.

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.