Teachers Retirement System of the State of Kentucky makes new investment in WR Berkley Co. (NYSE:WRB)

Teacher Retirement System Of The State Of Kentucky acquired a new position in shares of WR Berkley Co. (NYSE: WRB – Get Rating ) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 67,332 shares of the insurance provider’s stock, valued at approximately $4,349,000.

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Several other institutional investors have also recently bought and sold shares of WRB. James Investment Research Inc. acquired a new position in shares of WR Berkley during the third quarter valued at $27,000. Bogart Wealth LLC raised its position in shares of WR Berkley by 43.2% during the third quarter. Bogart Wealth LLC now owns 451 shares of the insurance provider’s stock valued at $29,000 after buying an additional 136 shares in the last quarter. Red Cedar Capital LLC acquired a new position in shares of WR Berkley during the third quarter valued at $30,000. First Manhattan Co. boosted its holdings in WR Berkley by 50.0% in the first quarter. First Manhattan Co. now owns 486 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 162 shares during the last quarter. Finally, SRS Capital Advisors Inc. acquired a new stake in WR Berkley in the second quarter valued at $34,000. 71.66% of the stock is currently owned by hedge funds and other institutional investors.

The Wall Street analyst weighs in

Several analysts have recently issued reports on WRB shares. Morgan Stanley boosted their target price on shares of WR Berkley from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Tuesday, November 22nd. BMO Capital Markets started coverage on shares of WR Berkley in a report on Thursday, January 19th. They issued a “market perform” rating and a $76.00 target price on the stock. Bank of America raised shares of WR Berkley from a “neutral” rating to a “buy” rating and cut their target price for the company from $77.00 to $76.00 in a report on Wednesday. Finally, StockNews.com assumed coverage on shares of WR Berkley in a report on Thursday. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Moderate Buy” and a consensus target price of $79.09, based on data from MarketBeat.com.

Shares of WR Berkley fell 3.0%

Shares of WR Berkley stock opened at $61.00 on Friday. The company has a 50-day simple moving average of $67.92 and a 200-day simple moving average of $69.75. The firm has a market cap of $16.07 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.37 and a beta of 0.62. The company has a debt-to-equity ratio of 0.42, a quick earnings ratio of 0.38, and a current ratio of 0.38. WR Berkley Co. has a one year low of $59.50 and a one year high of $76.99.

WR Berkley (NYSE:WRB – Get Rating ) last posted its quarterly earnings results on Thursday, January 26th. The insurance provider reported $1.16 EPS for the quarter, topping the consensus estimate of $1.07 by $0.09. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.92 billion. WR Berkley had a net margin of 12.37% and a return on equity of 18.50%. In the same quarter last year, the firm earned $1.02 earnings per share. As a group, equity analysts expect WR Berkley Co. to report 4.9 earnings per share for the current year.

WR Berkley declares dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 9th will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This represents an annualized dividend of $0.40 and a yield of 0.66%. WR Berkley’s dividend payout ratio is currently 8.08%.

WR Berkley profile

(Get Rating)

WR Berkley Corp. is an insurance holding company engaged in property-casualty insurance. It operates in the following segments: Insurance and Reinsurance and Monoline Excess. The insurance segment includes excess and excess lines, admitted lines and special personal lines in the United States, as well as insurance businesses in the United Kingdom, continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.

See also

Want to see what other hedge funds are holding WRB? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for WR Berkley Co. (NYSE: WRB – Get Rating ).

Institutional Ownership by Quarter for WR Berkley (NYSE:WRB)

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