Van ECK Associates Corp Lowers Stock Position in W.R. Berkley Corporation $WRB

Van ECK Associates Corp reduced its holdings in W.R. Berkley Corporation (NYSE:WRB) by 35.8% during the 2nd quarter, Holdings Channel reports. The firm owned 35,193 shares of the insurance provider’s stock after selling 19,648 shares during the quarter. Van ECK Associates Corp’s holdings in W.R. Berkley were worth $2,482,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Entrust Financial LLC purchased a new position in W.R. Berkley in the 4th quarter valued at $25,000. Hazlett Burt & Watson Inc. raised its position in shares of W.R. Berkley by 140.0% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock valued at $26,000 after buying an additional 210 shares during the last quarter. Allied Private Wealth LLC purchased a new position in shares of W.R. Berkley in the second quarter worth about $29,000. DV Equities LLC purchased a new position in shares of W.R. Berkley in the fourth quarter worth about $29,000. Finally, Triumph Capital Management acquired a new position in W.R. Berkley during the third quarter worth about $35,000. Institutional investors and hedge funds own 68.82% of the company’s stock.

W.R. Berkley Stock Performance

W.R. Berkley stock opened at $69.43 on Friday. The firm has a 50 day simple moving average of $71.15 and a 200-day simple moving average of $68.80. The stock has a market cap of $25.77 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 1.69 and a beta of 0.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.37 and a quick ratio of 0.37. W.R. Berkley Corporation has a 1-year low of $62.87 and a 1-year high of $78.96.

W.R. Berkley (NYSE:WRB) last released its quarterly earnings results 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 firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.28 billion. W.R. Berkley had a net margin of 12.94% and a return on equity of 19.44%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 EPS. On average, analysts expect that W.R. Berkley Corporation will post 4.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays reiterated an “underweight” rating and issued a $62.00 price objective (down from $64.00) on shares of W.R. Berkley in a report on Friday, June 12th. Cantor Fitzgerald restated a “neutral” rating and issued a $74.00 price target (up from $70.00) on shares of W.R. Berkley in a research report on Thursday, July 9th. UBS Group reaffirmed a “neutral” rating and issued a $77.00 price target (up from $71.00) on shares of W.R. Berkley in a report on Monday, July 27th. Mizuho lifted their price objective on W.R. Berkley from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Finally, The Goldman Sachs Group raised W.R. Berkley from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $71.00 to $73.00 in a research note on Monday, June 8th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $70.94.

About W.R. Berkley

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.