TD Asset Management Inc Sells 216,992 Shares of W.R. Berkley Corporation $WRB

TD Asset Management Inc trimmed its position in shares of W.R. Berkley Corporation (NYSE:WRB) by 53.6% during the 4th quarter, Holdings Channel reports. The firm owned 188,069 shares of the insurance provider’s stock after selling 216,992 shares during the period. TD Asset Management Inc’s holdings in W.R. Berkley were worth $13,187,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Entrust Financial LLC purchased a new stake in W.R. Berkley in the 4th quarter worth $25,000. Hazlett Burt & Watson Inc. grew its position in shares of W.R. Berkley by 140.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 210 shares in the last quarter. Triumph Capital Management purchased a new position in shares of W.R. Berkley during the third quarter valued at about $35,000. Cary Street Partners Financial LLC grew its position in shares of W.R. Berkley by 691.9% during the second quarter. Cary Street Partners Financial LLC now owns 586 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 512 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of W.R. Berkley during the fourth quarter valued at about $42,000. 68.82% of the stock is currently owned by institutional investors.

W.R. Berkley Price Performance

WRB stock opened at $66.76 on Tuesday. W.R. Berkley Corporation has a 12 month low of $62.87 and a 12 month high of $78.96. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $66.44 and a 200 day moving average price of $68.73. The stock has a market cap of $24.85 billion, a PE ratio of 14.14, a P/E/G ratio of 3.24 and a beta of 0.30.

W.R. Berkley (NYSE:WRB) last released its quarterly earnings results on Tuesday, April 21st. The insurance provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.17. W.R. Berkley had a net margin of 12.64% and a return on equity of 18.92%. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the previous year, the company earned $1.01 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts anticipate that W.R. Berkley Corporation will post 4.67 earnings per share for the current year.

W.R. Berkley Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 23rd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. This is a boost from W.R. Berkley’s previous quarterly dividend of $0.09. W.R. Berkley’s dividend payout ratio is presently 7.63%.

Analyst Ratings Changes

WRB has been the subject of a number of research analyst reports. Cantor Fitzgerald lowered W.R. Berkley from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $75.00 to $71.00 in a research report on Thursday, April 9th. Wall Street Zen upgraded W.R. Berkley from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Barclays raised their price objective on W.R. Berkley from $62.00 to $64.00 and gave the company an “underweight” rating in a research report on Wednesday, April 22nd. Evercore restated an “underperform” rating on shares of W.R. Berkley in a research report on Monday, March 9th. Finally, Brean Capital lowered W.R. Berkley from a “buy” rating to a “neutral” rating and set a $73.00 price objective for the company. in a research report on Wednesday, March 25th. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $68.44.

W.R. Berkley 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.