260,160 Shares in W.R. Berkley Corporation $WRB Purchased by Danske Bank A S

Danske Bank A S purchased a new position in shares of W.R. Berkley Corporation (NYSE:WRB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 260,160 shares of the insurance provider’s stock, valued at approximately $18,349,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Entrust Financial LLC acquired a new position in shares of W.R. Berkley during the 4th quarter worth approximately $25,000. Hazlett Burt & Watson Inc. raised its stake in W.R. Berkley by 140.0% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 210 shares during the period. Allied Private Wealth LLC acquired a new stake in W.R. Berkley during the 2nd quarter valued at $29,000. DV Equities LLC acquired a new stake in W.R. Berkley during the 4th quarter valued at $29,000. Finally, Triumph Capital Management bought a new position in W.R. Berkley during the third quarter worth $35,000. Institutional investors own 68.82% of the company’s stock.

W.R. Berkley Stock Performance

Shares of NYSE WRB opened at $69.27 on Friday. 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 firm has a market cap of $25.71 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 3.17 and a beta of 0.29. The stock’s fifty day moving average price is $71.10 and its two-hundred day moving average price is $68.91. W.R. Berkley Corporation has a one year low of $62.87 and a one year high of $78.96.

W.R. Berkley (NYSE:WRB) last posted its earnings results on Monday, July 20th. The insurance provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.19. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.28 billion. W.R. Berkley had a return on equity of 19.44% and a net margin of 12.94%.The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 earnings per share. On average, equities analysts forecast that W.R. Berkley Corporation will post 4.84 EPS for the current year.

W.R. Berkley Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Tuesday, June 23rd were given a dividend of $0.10 per share. This is a positive change from W.R. Berkley’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, June 23rd. W.R. Berkley’s payout ratio is 8.21%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WRB shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $74.00 price objective (up from $70.00) on shares of W.R. Berkley in a report on Thursday, July 9th. Wells Fargo & Company restated an “underweight” rating and set a $68.00 target price (up from $67.00) on shares of W.R. Berkley in a research note on Tuesday, July 21st. Mizuho lifted their target price on shares of W.R. Berkley from $72.00 to $74.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. BMO Capital Markets upgraded shares of W.R. Berkley from an “underperform” rating to a “market perform” rating and upped their price target for the company from $64.00 to $68.00 in a research note on Thursday, April 23rd. Finally, Atlantic Securities set a $74.00 price target on shares of W.R. Berkley in a report on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $70.94.

About W.R. Berkley

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.