Midas Management Corp maintained its stake in W.R. Berkley Corp. (NYSE:WRB) during the second quarter, Holdings Channel reports. The firm owned 77,000 shares of the company’s stock at the end of the second quarter. W.R. Berkley Corp. comprises approximately 2.6% of Midas Management Corp’s portfolio, making the stock its largest position. Midas Management Corp’s holdings in W.R. Berkley Corp. were worth $4,614,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. BlackRock Fund Advisors boosted its stake in W.R. Berkley Corp. by 5.9% in the first quarter. BlackRock Fund Advisors now owns 4,159,966 shares of the company’s stock worth $233,790,000 after buying an additional 232,394 shares in the last quarter. State Street Corp boosted its stake in W.R. Berkley Corp. by 1.9% in the first quarter. State Street Corp now owns 3,929,064 shares of the company’s stock worth $220,818,000 after buying an additional 74,823 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in W.R. Berkley Corp. by 0.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,428,343 shares of the company’s stock worth $192,673,000 after buying an additional 27,528 shares in the last quarter. Wellington Management Group LLP boosted its stake in W.R. Berkley Corp. by 0.6% in the first quarter. Wellington Management Group LLP now owns 1,394,284 shares of the company’s stock worth $78,359,000 after buying an additional 8,124 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake in W.R. Berkley Corp. by 3.4% in the first quarter. BlackRock Group LTD now owns 860,466 shares of the company’s stock worth $48,357,000 after buying an additional 28,519 shares in the last quarter. 70.99% of the stock is currently owned by institutional investors and hedge funds.
W.R. Berkley Corp. (NYSE:WRB) traded up 0.78% on Friday, reaching $58.43. The company had a trading volume of 200,885 shares. The firm has a market capitalization of $7.17 billion, a P/E ratio of 15.33 and a beta of 0.82. W.R. Berkley Corp. has a 1-year low of $47.54 and a 1-year high of $60.08. The company’s 50-day moving average price is $57.91 and its 200 day moving average price is $57.24.
W.R. Berkley Corp. (NYSE:WRB) last posted its quarterly earnings results on Monday, July 25th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. W.R. Berkley Corp. had a net margin of 6.69% and a return on equity of 9.53%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the company earned $0.81 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. On average, equities analysts forecast that W.R. Berkley Corp. will post $3.41 EPS for the current year.
The firm also recently declared a dividend, which was paid on Wednesday, October 5th. Shareholders of record on Tuesday, September 20th were issued a $0.63 dividend. This is a positive change from W.R. Berkley Corp.’s previous dividend of $0.12. The ex-dividend date was Friday, September 16th. W.R. Berkley Corp.’s dividend payout ratio is presently 13.65%.
A number of equities research analysts have commented on WRB shares. Zacks Investment Research raised W.R. Berkley Corp. from a “sell” rating to a “hold” rating in a report on Friday, August 19th. Royal Bank Of Canada lifted their target price on W.R. Berkley Corp. from $57.00 to $61.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 13th. Credit Suisse Group AG set a $52.00 target price on W.R. Berkley Corp. and gave the stock a “sell” rating in a report on Monday, September 12th. Finally, Compass Point lifted their target price on W.R. Berkley Corp. from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, July 26th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The company has an average rating of “Hold” and an average target price of $56.83.
About W.R. Berkley Corp.
W. R. Berkley Corporation is an insurance holding company. The Company operates in the three segments of the property casualty insurance business: Insurance-Domestic, Insurance-International and Reinsurance-Global. Its Insurance-Domestic segment includes commercial insurance business, including excess and surplus lines and admitted lines, primarily throughout the United States.