Mirae Asset Global Investments Co. Ltd. Buys New Shares in W.R. Berkley Corporation $WRB

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of W.R. Berkley Corporation (NYSE:WRB) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 57,224 shares of the insurance provider’s stock, valued at approximately $3,865,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Squarepoint Ops LLC increased its position in shares of W.R. Berkley by 1,300.5% in the 2nd quarter. Squarepoint Ops LLC now owns 751,280 shares of the insurance provider’s stock worth $52,988,000 after purchasing an additional 697,638 shares during the last quarter. National Pension Service lifted its position in shares of W.R. Berkley by 81.4% during the second quarter. National Pension Service now owns 51,537 shares of the insurance provider’s stock worth $3,635,000 after purchasing an additional 23,122 shares during the last quarter. Nykredit A S acquired a new position in W.R. Berkley in the second quarter worth about $5,526,000. Public Employees Retirement System of Ohio acquired a new position in W.R. Berkley in the second quarter worth about $4,562,000. Finally, Empowered Funds LLC increased its holdings in W.R. Berkley by 129.2% in the first quarter. Empowered Funds LLC now owns 25,841 shares of the insurance provider’s stock valued at $1,713,000 after buying an additional 14,568 shares during the last quarter. Institutional investors own 68.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WRB shares. Mizuho increased their target price on W.R. Berkley from $70.00 to $73.00 and gave the stock a “neutral” rating in a report on Tuesday, October 20th. Weiss Ratings upgraded W.R. Berkley from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. UBS Group reissued a “neutral” rating and set a $79.00 price target on shares of W.R. Berkley in a research report on Monday, October 26th. Atlantic Securities set a $74.00 price objective on W.R. Berkley in a research note on Wednesday, July 15th. Finally, Cantor Fitzgerald decreased their price objective on shares of W.R. Berkley from $74.00 to $71.00 and set a “neutral” rating for the company in a report on Monday, October 26th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $70.56.

W.R. Berkley Stock Performance

Shares of NYSE:WRB traded down $1.76 during trading on Friday, hitting $75.22. 1,851,120 shares of the company traded hands, compared to its average volume of 2,366,465. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average is $71.19 and its 200-day moving average is $69.43. The stock has a market capitalization of $27.93 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 1.93 and a beta of 0.23. W.R. Berkley Corporation has a one year low of $62.87 and a one year high of $79.26.

W.R. Berkley (NYSE:WRB) last released its quarterly earnings data on Monday, October 19th. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.02. W.R. Berkley had a return on equity of 19.63% and a net margin of 12.53%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, equities analysts predict that W.R. Berkley Corporation will post 4.91 earnings per share for the current fiscal year.

W.R. Berkley Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. W.R. Berkley’s payout ratio is 8.46%.

About W.R. Berkley

W.R. Berkley Corporation is an insurance holding company that provides commercial property and casualty insurance, reinsurance, and related services. Its offerings include coverage for businesses and professionals across areas such as property, casualty, workers’ compensation, transportation, and specialty risks.

Founded in 1967 by William R. Berkley, the company operates through a group of insurance businesses with expertise in specific markets and customer needs. Its operations serve customers in the United States and select international markets.

William R.