Belpointe Asset Management LLC Cuts Stock Position in W.R. Berkley Corporation $WRB

Belpointe Asset Management LLC cut its stake in shares of W.R. Berkley Corporation (NYSE:WRB) by 10.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,245 shares of the insurance provider’s stock after selling 5,063 shares during the quarter. Belpointe Asset Management LLC’s holdings in W.R. Berkley were worth $3,030,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of WRB. Hilltop National Bank acquired a new stake in shares of W.R. Berkley in the 2nd quarter worth $27,000. Spectrum Wealth Counsel LLC purchased a new position in W.R. Berkley during the first quarter worth about $29,000. Garde Capital Inc. acquired a new stake in W.R. Berkley in the first quarter valued at about $30,000. N.E.W. Advisory Services LLC purchased a new stake in W.R. Berkley in the 1st quarter valued at approximately $36,000. Finally, Keystone Global Partners LLC purchased a new stake in W.R. Berkley in the 1st quarter valued at approximately $41,000. 68.82% of the stock is owned by institutional investors and hedge funds.

W.R. Berkley Trading Up 0.1%

Shares of WRB stock opened at $76.97 on Tuesday. The stock has a market cap of $29.19 billion, a P/E ratio of 17.53, a P/E/G ratio of 2.66 and a beta of 0.42. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.31. W.R. Berkley Corporation has a fifty-two week low of $55.97 and a fifty-two week high of $77.58. The business has a fifty day simple moving average of $72.36 and a 200-day simple moving average of $71.32.

W.R. Berkley (NYSE:WRB) last issued its quarterly earnings data on Monday, July 21st. The insurance provider reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. W.R. Berkley had a net margin of 12.32% and a return on equity of 18.83%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the company earned $1.04 EPS. On average, analysts forecast that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, September 22nd. W.R. Berkley’s dividend payout ratio (DPR) is 8.20%.

Analyst Ratings Changes

WRB has been the subject of several recent analyst reports. UBS Group raised their price target on W.R. Berkley from $78.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Wolfe Research began coverage on W.R. Berkley in a research report on Monday, September 15th. They issued a “peer perform” rating for the company. Wells Fargo & Company decreased their target price on shares of W.R. Berkley from $71.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 22nd. Barclays upped their price target on shares of W.R. Berkley from $62.00 to $66.00 and gave the stock an “underweight” rating in a research note on Monday, July 7th. Finally, TD Cowen cut shares of W.R. Berkley from a “buy” rating to a “hold” rating and set a $78.00 price objective for the company. in a research note on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $72.54.

W.R. Berkley Company Profile

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writers worldwide. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines, and specialty personal lines.