Nuance Investments LLC raised its position in W.R. Berkley Corporation (NYSE:WRB) by 17.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,291 shares of the insurance provider’s stock after buying an additional 14,898 shares during the quarter. Nuance Investments LLC owned approximately 0.08% of W.R. Berkley worth $6,827,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in the company. World Asset Management Inc raised its stake in shares of W.R. Berkley by 0.6% during the second quarter. World Asset Management Inc now owns 6,689 shares of the insurance provider’s stock worth $463,000 after purchasing an additional 39 shares during the last quarter. D.A. Davidson & CO. grew its holdings in W.R. Berkley by 1.2% in the second quarter. D.A. Davidson & CO. now owns 5,836 shares of the insurance provider’s stock valued at $403,000 after purchasing an additional 67 shares during the last quarter. Burney Co. grew its holdings in W.R. Berkley by 0.3% in the second quarter. Burney Co. now owns 41,928 shares of the insurance provider’s stock valued at $2,902,000 after purchasing an additional 132 shares during the last quarter. US Bancorp DE boosted its stake in shares of W.R. Berkley by 1.9% during the second quarter. US Bancorp DE now owns 7,167 shares of the insurance provider’s stock valued at $495,000 after acquiring an additional 137 shares during the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of W.R. Berkley by 6.9% during the second quarter. IFP Advisors Inc now owns 2,207 shares of the insurance provider’s stock valued at $153,000 after acquiring an additional 143 shares during the last quarter. Institutional investors and hedge funds own 71.01% of the company’s stock.
Several equities analysts recently weighed in on WRB shares. UBS increased their target price on W.R. Berkley from $63.00 to $66.00 and gave the stock a “sell” rating in a research report on Wednesday, October 25th. Zacks Investment Research lowered W.R. Berkley from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Boenning Scattergood restated a “hold” rating on shares of W.R. Berkley in a research note on Wednesday, October 25th. Royal Bank Of Canada reiterated a “hold” rating and issued a $72.00 target price on shares of W.R. Berkley in a research report on Tuesday, August 29th. Finally, Buckingham Research began coverage on W.R. Berkley in a report on Monday, September 11th. They issued a “neutral” rating and a $67.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. W.R. Berkley presently has a consensus rating of “Hold” and a consensus target price of $69.14.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.56 dividend on an annualized basis and a yield of 0.81%. W.R. Berkley’s payout ratio is 13.11%.
W.R. Berkley announced that its board has initiated a share repurchase plan on Tuesday, August 8th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
W.R. Berkley Profile
W. R. Berkley Corporation is an insurance holding company. It operates through two segments: Insurance and Reinsurance-Global. The Insurance segment consists of its commercial insurance business operations, comprising excess and surplus lines, and admitted lines, throughout the United States, as well as its insurance business operations in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.
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