Northwestern Mutual Wealth Management Co. Has $35.45 Million Stock Position in W.R. Berkley Corporation $WRB

Northwestern Mutual Wealth Management Co. raised its holdings in W.R. Berkley Corporation (NYSE:WRBFree Report) by 2,864.9% in the 4th quarter, HoldingsChannel reports. The fund owned 550,428 shares of the insurance provider’s stock after acquiring an additional 531,863 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in W.R. Berkley were worth $35,447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Donoghue Forlines LLC acquired a new stake in shares of W.R. Berkley during the fourth quarter worth $2,412,000. Arbejdsmarkedets Tillaegspension acquired a new stake in shares of W.R. Berkley during the fourth quarter worth $24,364,000. New York Life Investment Management LLC increased its position in shares of W.R. Berkley by 7.2% during the fourth quarter. New York Life Investment Management LLC now owns 43,601 shares of the insurance provider’s stock worth $3,057,000 after buying an additional 2,935 shares during the period. Baader Bank Aktiengesellschaft increased its position in shares of W.R. Berkley by 3.1% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 9,670 shares of the insurance provider’s stock worth $669,000 after buying an additional 290 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of W.R. Berkley by 47.3% during the fourth quarter. Pacer Advisors Inc. now owns 35,525 shares of the insurance provider’s stock worth $2,491,000 after buying an additional 11,400 shares during the period. 68.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WRB shares. Argus cut shares of W.R. Berkley from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Truist Financial decreased their price objective on shares of W.R. Berkley from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Wall Street Zen upgraded shares of W.R. Berkley from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings upgraded shares of W.R. Berkley from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Finally, Evercore reiterated an “underperform” rating on shares of W.R. Berkley in a research report on Monday, March 9th. Two equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $68.81.

Check Out Our Latest Report on WRB

W.R. Berkley Price Performance

WRB stock opened at $68.72 on Tuesday. The stock has a market capitalization of $25.58 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 3.15 and a beta of 0.33. The company’s 50-day moving average is $66.66 and its 200-day moving average is $69.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.36 and a quick ratio of 0.36. W.R. Berkley Corporation has a 1 year low of $63.67 and a 1 year high of $78.96.

W.R. Berkley (NYSE:WRBGet Free Report) last released its quarterly earnings data on Tuesday, April 21st. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.17. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.18 billion. W.R. Berkley had a net margin of 12.64% and a return on equity of 18.92%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 EPS. Equities research analysts expect that W.R. Berkley Corporation will post 4.66 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Sumitomo Insurance Co L. Mitsui acquired 345,000 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were bought at an average price of $70.65 per share, with a total value of $24,374,250.00. Following the transaction, the insider directly owned 57,508,038 shares of the company’s stock, valued at $4,062,942,884.70. This trade represents a 0.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have bought 1,902,412 shares of company stock worth $135,498,452. 23.00% of the stock is owned by corporate insiders.

W.R. Berkley Profile

(Free Report)

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.

See Also

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

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