Renaissance Technologies LLC Cuts Holdings in W. R. Berkley Corp (WRB)

Renaissance Technologies LLC decreased its holdings in W. R. Berkley Corp (NYSE:WRB) by 7.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 715,700 shares of the insurance provider’s stock after selling 56,900 shares during the period. Renaissance Technologies LLC owned 0.59% of W. R. Berkley worth $51,824,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Korea Investment CORP purchased a new position in shares of W. R. Berkley in the second quarter worth about $3,172,000. Envestnet Asset Management Inc. increased its stake in shares of W. R. Berkley by 38.5% in the second quarter. Envestnet Asset Management Inc. now owns 84,192 shares of the insurance provider’s stock worth $6,096,000 after purchasing an additional 23,403 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of W. R. Berkley by 75.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,701 shares of the insurance provider’s stock worth $123,000 after purchasing an additional 729 shares in the last quarter. ING Groep NV increased its stake in shares of W. R. Berkley by 107.3% in the second quarter. ING Groep NV now owns 6,023 shares of the insurance provider’s stock worth $436,000 after purchasing an additional 3,118 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its stake in shares of W. R. Berkley by 121.3% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 12,314 shares of the insurance provider’s stock worth $892,000 after purchasing an additional 6,750 shares in the last quarter. Hedge funds and other institutional investors own 72.64% of the company’s stock.

Several equities analysts have recently weighed in on WRB shares. Zacks Investment Research upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Thursday, September 27th. Bank of America downgraded shares of W. R. Berkley from a “neutral” rating to an “underperform” rating and set a $74.00 target price for the company. in a research note on Thursday, June 14th. They noted that the move was a valuation call. Credit Suisse Group started coverage on shares of W. R. Berkley in a research note on Tuesday, August 7th. They issued a “neutral” rating and a $78.00 target price for the company. Boenning Scattergood reiterated a “hold” rating on shares of W. R. Berkley in a research note on Wednesday, July 25th. Finally, ValuEngine upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating in a research note on Wednesday, July 11th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. W. R. Berkley has a consensus rating of “Hold” and a consensus target price of $73.57.

NYSE:WRB traded down $0.53 during mid-day trading on Friday, hitting $78.76. 286,719 shares of the stock traded hands, compared to its average volume of 374,726. The stock has a market cap of $9.74 billion, a P/E ratio of 32.02, a P/E/G ratio of 2.39 and a beta of 0.82. W. R. Berkley Corp has a 12-month low of $65.92 and a 12-month high of $80.68. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.49.

W. R. Berkley (NYSE:WRB) last issued its quarterly earnings data on Tuesday, July 24th. The insurance provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.82 by $0.15. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.58 billion. W. R. Berkley had a net margin of 8.54% and a return on equity of 7.25%. W. R. Berkley’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.85 earnings per share. On average, equities analysts forecast that W. R. Berkley Corp will post 3.71 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 3rd. Investors of record on Wednesday, September 19th were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, September 18th. This represents a $0.60 annualized dividend and a yield of 0.76%. W. R. Berkley’s dividend payout ratio is currently 24.39%.

W. R. Berkley Profile

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.

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Institutional Ownership by Quarter for W. R. Berkley (NYSE:WRB)

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