Smith Salley & Associates Sells 183 Shares of W.R. Berkley Corporation (WRB)

Smith Salley & Associates decreased its stake in W.R. Berkley Corporation (NYSE:WRB) by 4.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,658 shares of the insurance provider’s stock after selling 183 shares during the period. Smith Salley & Associates’ holdings in W.R. Berkley Corporation were worth $253,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. NEXT Financial Group Inc boosted its position in W.R. Berkley Corporation by 243.9% in the second quarter. NEXT Financial Group Inc now owns 1,809 shares of the insurance provider’s stock valued at $125,000 after buying an additional 1,283 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in W.R. Berkley Corporation by 46.8% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,881 shares of the insurance provider’s stock valued at $133,000 after buying an additional 600 shares during the last quarter. IFP Advisors Inc boosted its position in W.R. Berkley Corporation by 218.0% in the first quarter. IFP Advisors Inc now owns 2,064 shares of the insurance provider’s stock valued at $146,000 after buying an additional 1,415 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in W.R. Berkley Corporation by 4.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,548 shares of the insurance provider’s stock valued at $168,000 after buying an additional 102 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in W.R. Berkley Corporation by 17.4% in the first quarter. Daiwa Securities Group Inc. now owns 2,700 shares of the insurance provider’s stock valued at $191,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 70.94% of the company’s stock.

W.R. Berkley Corporation (NYSE WRB) opened at 68.22 on Thursday. W.R. Berkley Corporation has a 52-week low of $55.55 and a 52-week high of $73.17. The firm’s 50-day moving average price is $69.19 and its 200-day moving average price is $69.17. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 14.48 and a beta of 0.87.

W.R. Berkley Corporation (NYSE:WRB) last announced its earnings results on Tuesday, July 25th. The insurance provider reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by $0.10. W.R. Berkley Corporation had a net margin of 7.86% and a return on equity of 7.58%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the firm earned $0.82 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, equities analysts anticipate that W.R. Berkley Corporation will post $2.93 EPS for the current year.

W.R. Berkley Corporation announced that its board has authorized a stock buyback plan on Tuesday, August 8th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, September 19th. This represents a $0.56 annualized dividend and a dividend yield of 0.82%. W.R. Berkley Corporation’s dividend payout ratio (DPR) is presently 11.84%.

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A number of equities analysts have recently issued reports on the company. BidaskClub upgraded W.R. Berkley Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $70.00 price objective (up from $68.00) on shares of W.R. Berkley Corporation in a report on Friday, July 7th. Zacks Investment Research upgraded W.R. Berkley Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $67.00 price objective on shares of W.R. Berkley Corporation in a report on Wednesday, May 17th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of W.R. Berkley Corporation in a report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. W.R. Berkley Corporation presently has a consensus rating of “Hold” and a consensus price target of $63.83.

W.R. Berkley Corporation Company Profile

W. R. Berkley Corporation is an insurance holding company. It operates through two segments: Insurance and Reinsurance-Global. The Insurance segment consists of its commercial insurance business operations, comprising excess and surplus lines, and admitted lines, throughout the United States, as well as its insurance business operations in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia.

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

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