Asset Management Group Lowers stake in W. R. Berkley Corp (WRB)

W. R. Berkley Corp (WRB) : Asset Management Group reduced its stake in W. R. Berkley Corp by 2.73% during the most recent quarter end. The investment management company now holds a total of 51,001 shares of W. R. Berkley Corp which is valued at $2,964,688 after selling 1,429 shares in W. R. Berkley Corp , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.W. R. Berkley Corp makes up approximately 1.25% of Asset Management Group’s portfolio.

Other Hedge Funds, Including , First Republic Investment Management boosted its stake in WRB in the latest quarter, The investment management firm added 57,823 additional shares and now holds a total of 63,599 shares of W. R. Berkley Corp which is valued at $3,697,010. W. R. Berkley Corp makes up approx 0.03% of First Republic Investment Management’s portfolio.Citadel Advisors reduced its stake in WRB by selling 105,260 shares or 11.23% in the most recent quarter. The Hedge Fund company now holds 831,997 shares of WRB which is valued at $48,363,986. W. R. Berkley Corp makes up approx 0.12% of Citadel Advisors’s portfolio.Pacer Advisors boosted its stake in WRB in the latest quarter, The investment management firm added 7,523 additional shares and now holds a total of 9,040 shares of W. R. Berkley Corp which is valued at $525,495. W. R. Berkley Corp makes up approx 0.08% of Pacer Advisors’s portfolio.Gamco Investors Et Al reduced its stake in WRB by selling 26,185 shares or 5.49% in the most recent quarter. The Hedge Fund company now holds 450,428 shares of WRB which is valued at $26,494,175. W. R. Berkley Corp makes up approx 0.17% of Gamco Investors Et Al’s portfolio.

W. R. Berkley Corp closed down -0.76 points or -1.28% at $58.61 with 5,10,800 shares getting traded on Thursday. Post opening the session at $59.25, the shares hit an intraday low of $58.59 and an intraday high of $59.52 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, W. R. Berkley Corp reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 25, 2016. Analyst had a consensus of $0.79. The company had revenue of $1559.80 million for the quarter, compared to analysts expectations of $1578.40 million. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 EPS.

Investors should note that on Aug 2, 2016, W. R. Berkley Corp announced a cash dividend of $0.1300. The company’s management has announced Sep 16, 2016 as the ex-dividend date and fixed the record date on Sep 20, 2016. The payable date has been fixed on Oct 5, 2016.

Many Wall Street Analysts have commented on W. R. Berkley Corp. Company shares were Reiterated by Compass Point on Jul 26, 2016 to “Neutral”, Firm has raised the Price Target to $ 60 from a previous price target of $55 .Company shares were Reiterated by RBC Capital Mkts on Jul 13, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 61 from a previous price target of $57 .

W. R. Berkley Corporation (W. R. Berkley) is an insurance holding company. The Company operates in the three segments of the property casualty insurance business: Insurance-Domestic Insurance-International and Reinsurance-Global. The Company’s Insurance -Domestic operating units underwrite specialty risks within the excess and surplus lines market and on an admitted basis. The Company through its Insurance-International operating units writes business in almost 40 countries across the world with branches or offices in 15 locations outside the United States including the United Kingdom Continental Europe South America Canada Scandinavia and Australia. The Company provides other insurance companies and self-insureds with assistance in managing their net risk through reinsurance on either a portfolio basis through treaty reinsurance or on an individual basis through facultative reinsurance.

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