SSgA Funds Management, Inc. has recently announced that it has increased stake in W.R. Berkley Corp. (NYSE:WRB) by 2.94%. After grabbing 11.11 million shares, the institutional investor is now in possession of 0.32 million shares of the Financial Company. The new investment brought the stake of investor firm to 4.31% having worth around $785.57 million. Moreover, Janus Henderson Investors US LLC increased its share by 1.58 million to have a control over 8.11 million shares. And Kayne Anderson Rudnick Investment raised its holdings to 0.3 million shares by acquiring 6.82 million shares or 2.64% of the stake.
W.R. Berkley Corp. (WRB) concluded trading on Thursday at a closing price of $83.27, with 2.95 million shares of worth about $245.28 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 36.81% during that period and on Thursday, January 25 the price saw a gain of about 7.18%. Currently the company’s common shares owned by public are about 256.55M shares, out of which, 201.59M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 22 times over the past 12 months. They bought 258,468 shares in 16 of the transactions. In 6 selling transactions, insiders dumped 9,295 shares.
Eaton Vance Atlanta Capital SMID, Janus Henderson Enterprise Fund, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in W.R. Berkley Corp. Eaton Vance Atlanta Capital SMID is currently holding 7.52 million shares of worth totaling $531.74 million. The company recently came buying 0.0 shares which brought its stake up to 2.92% of the company’s outstanding shares. Janus Henderson Enterprise Fund bought 1.28 million shares, after which its hold over company’s outstanding shares expand to 2.36%, leaving 6.1 million shares with the mutual fund that have a worth of about $431.2 million. Vanguard Total Stock Market ETF, after buying 6.05 million shares, have now control over 2.35% of the stake in the company. It holds 5106.0 shares of worth $428.17 million.
However, the stock later moved at a day high price of 85.01, or with a gain of 7.18%. Stock saw a price change of 11.95% in past 5 days and over the past one month there was a price change of 18.60%. Year-to-date (YTD), WRB shares are showing a performance of 17.75% which increased to 19.40% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $54.69 but also hit the highest price of $78.27 during that period. The average intraday trading volume for W.R. Berkley Corp. shares is 1.30 million. The stock is currently trading 13.73% above its 20-day simple moving average (SMA20), while that difference is up 16.28% for SMA50 and it goes to 31.33% higher than SMA200.
SSgA Funds Management, Inc. acquired 11.11 million shares of W.R. Berkley Corp. having value of about $785.57 million. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 0.32 million shares in the company valued at close to $26384765.66, or have control over 2.94% stake in the company. W.R. Berkley Corp. (NYSE: WRB) currently have 256.55M outstanding shares and institutions hold larger chunk of about 68.14% of that. Holding of mutual funds in the company is about 28.18% while other institutional holders and individual stake holders have control over 40.22% and 22.33% of the stake respectively.
The stock has a current market capitalization of $21.47B and its 3Y-monthly beta is at 0.58. PE ratio of stock for trailing 12 months is 16.44, while it has posted earnings per share of $5.06 in the same period. Its PEG reads 1.83 while making debt-to-equity ratio of 0.38. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for WRB, volatility over the week remained 2.27% while standing at 1.59% over the month.
Analysts are in expectations that W.R. Berkley Corp. (WRB) stock would likely to be making an EPS of $1.47 in the current quarter, while forecast for next quarter EPS is $1.43 and it is $6.43 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.37 which is $1.55 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 21.36% while it is estimated to increase by 8.85% in next year. EPS is likely to shrink at an annualized rate of 9.00% for next 5-years, compared to annual growth of 17.86% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Evercore ISI on January 09, 2024 offering an In-line rating for the stock and assigned a target price range of between $69 and $79 to it.
