Hsbc Holdings PLC Buys 7,401 Shares of W.R. Berkley Corporation $WRB

Hsbc Holdings PLC boosted its stake in W.R. Berkley Corporation (NYSE:WRB) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,110,733 shares of the insurance provider’s stock after purchasing an additional 7,401 shares during the quarter. Hsbc Holdings PLC owned about 0.30% of W.R. Berkley worth $78,633,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Entrust Financial LLC acquired a new position in shares of W.R. Berkley during the 4th quarter worth $25,000. Hazlett Burt & Watson Inc. increased its holdings 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 worth $26,000 after purchasing an additional 210 shares in the last quarter. Allied Private Wealth LLC bought a new position in W.R. Berkley in the second quarter valued at about $29,000. DV Equities LLC acquired a new stake in W.R. Berkley during the 4th quarter worth approximately $29,000. Finally, Triumph Capital Management acquired a new position in shares of W.R. Berkley during the third quarter worth $35,000. 68.82% of the stock is currently owned by institutional investors and hedge funds.

W.R. Berkley Price Performance

W.R. Berkley stock opened at $69.13 on Monday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.29. The company has a market cap of $25.66 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.72 and a beta of 0.28. W.R. Berkley Corporation has a 12 month low of $62.87 and a 12 month high of $78.96. The business’s 50 day simple moving average is $71.11 and its 200 day simple moving average is $68.79.

W.R. Berkley (NYSE:WRB) last issued its quarterly earnings data on Monday, July 20th. The insurance provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.08 by $0.19. The company had revenue of $3.72 billion during the quarter, compared to analysts’ expectations of $3.28 billion. W.R. Berkley had a net margin of 12.94% and a return on equity of 19.44%. W.R. Berkley’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.05 earnings per share. Sell-side analysts forecast that W.R. Berkley Corporation will post 4.87 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group reaffirmed a “neutral” rating and issued a $77.00 price objective (up from $71.00) on shares of W.R. Berkley in a research note on Monday, July 27th. Mizuho upped their price objective on shares of W.R. Berkley from $72.00 to $74.00 and gave the company a “neutral” rating in a report on Tuesday, July 21st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $74.00 price target (up from $70.00) on shares of W.R. Berkley in a research note on Thursday, July 9th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $68.00 target price (up from $67.00) on shares of W.R. Berkley in a research report on Tuesday, July 21st. Finally, Oppenheimer set a $70.00 price target on shares of W.R. Berkley in a research report on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $70.94.

W.R. Berkley Company Profile

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.