Todays Report: The Westpac Banking Corp reaches $286,000 position of W.R. Berkley Corp. (WRB)

The Westpac Banking Corp reaches $286,000 position  of W.R. Berkley Corp. (WRB)

Westpac Banking Corp boosted its position in shares of W.R. Berkley Corp. (NYSE:WRB) by 35.5% during the second quarter, Holdings Channel reports. The institutional investor owned 4,774 shares of the company’s stock after buying an additional 1,252 shares during the period. Westpac Banking Corp’s holdings in W.R. Berkley Corp. were worth $286,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Aperio Group LLC raised its position in shares of W.R. Berkley Corp. by 1.6% in the first quarter. Aperio Group LLC now owns 48,602 shares of the company’s stock valued at $2,731,000 after buying an additional 774 shares during the period. BlackRock Inc. raised its position in shares of W.R. Berkley Corp. by 10.4% in the first quarter. BlackRock Inc. now owns 140,097 shares of the company’s stock valued at $7,873,000 after buying an additional 13,228 shares during the period. BlackRock Group LTD raised its position in shares of W.R. Berkley Corp. by 3.4% in the first quarter. BlackRock Group LTD now owns 860,466 shares of the company’s stock valued at $48,357,000 after buying an additional 28,519 shares during the period. BlackRock Fund Advisors raised its position in shares of 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 valued at $233,790,000 after buying an additional 232,394 shares during the period. Finally, Aviva PLC raised its position in shares of W.R. Berkley Corp. by 1.0% in the first quarter. Aviva PLC now owns 50,787 shares of the company’s stock valued at $2,854,000 after buying an additional 523 shares during the period. 70.99% of the stock is owned by institutional investors and hedge funds.

Shares of W.R. Berkley Corp. (NYSE:WRB) opened at 57.65 on Friday. W.R. Berkley Corp. has a 1-year low of $47.54 and a 1-year high of $60.08. The stock has a market capitalization of $7.08 billion, a P/E ratio of 15.12 and a beta of 0.82. The firm’s 50-day moving average is $57.97 and its 200 day moving average is $57.16.

W.R. Berkley Corp. (NYSE:WRB) last announced its earnings results on Monday, July 25th. The company reported $0.82 EPS for the quarter, topping 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 earned $1.56 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the company posted $0.81 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts expect that W.R. Berkley Corp. will post $3.41 EPS for the current fiscal year.

The company also recently announced 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 boost from W.R. Berkley Corp.’s previous dividend of $0.12. The ex-dividend date of this dividend was Friday, September 16th. W.R. Berkley Corp.’s dividend payout ratio (DPR) is presently 13.65%.

WRB has been the subject of several research analyst reports. Zacks Investment Research raised shares of W.R. Berkley Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Tuesday, September 27th. Credit Suisse Group AG set a $52.00 price target on shares of W.R. Berkley Corp. and gave the stock a “sell” rating in a research report on Monday, September 12th. Royal Bank Of Canada upped their price target on shares of W.R. Berkley Corp. from $57.00 to $61.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 13th. Finally, Compass Point upped their price target on shares of W.R. Berkley Corp. from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 26th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $56.83.

W.R. Berkley Corp. Company Profile

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.

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