Tobam cut its stake in W.R. Berkley Corporation (NYSE:WRB – Free Report) by 39.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,316 shares of the insurance provider’s stock after selling 11,124 shares during the period. Tobam’s holdings in W.R. Berkley were worth $1,214,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of W.R. Berkley by 75.6% during the fourth quarter. Brighton Jones LLC now owns 50,503 shares of the insurance provider’s stock valued at $2,955,000 after buying an additional 21,737 shares during the last quarter. Empowered Funds LLC raised its stake in W.R. Berkley by 9.7% in the 1st quarter. Empowered Funds LLC now owns 33,990 shares of the insurance provider’s stock worth $2,419,000 after acquiring an additional 3,013 shares during the last quarter. Acadian Asset Management LLC raised its stake in W.R. Berkley by 399.0% in the 1st quarter. Acadian Asset Management LLC now owns 9,506 shares of the insurance provider’s stock worth $675,000 after acquiring an additional 7,601 shares during the last quarter. Cary Street Partners Financial LLC lifted its position in W.R. Berkley by 691.9% during the 2nd quarter. Cary Street Partners Financial LLC now owns 586 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 512 shares during the period. Finally, NewEdge Advisors LLC grew its stake in W.R. Berkley by 12.0% during the 2nd quarter. NewEdge Advisors LLC now owns 9,825 shares of the insurance provider’s stock valued at $722,000 after purchasing an additional 1,056 shares during the last quarter. Institutional investors and hedge funds own 68.82% of the company’s stock.
W.R. Berkley Stock Up 0.1%
WRB stock opened at $67.27 on Friday. W.R. Berkley Corporation has a one year low of $62.87 and a one year high of $78.96. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.36 and a current ratio of 0.36. The firm’s fifty day moving average is $66.74 and its 200 day moving average is $68.16. The firm has a market cap of $25.04 billion, a PE ratio of 14.25, a P/E/G ratio of 3.18 and a beta of 0.30.
W.R. Berkley Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 23rd will be paid a $0.10 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. This is a boost from W.R. Berkley’s previous quarterly dividend of $0.09. W.R. Berkley’s dividend payout ratio (DPR) is presently 7.63%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on WRB shares. Weiss Ratings cut W.R. Berkley from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. Keefe, Bruyette & Woods dropped their target price on W.R. Berkley from $74.00 to $66.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 1st. Cantor Fitzgerald downgraded shares of W.R. Berkley from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $75.00 to $71.00 in a report on Thursday, April 9th. UBS Group set a $68.00 price objective on shares of W.R. Berkley and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, Wall Street Zen raised shares of W.R. Berkley from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $68.31.
Read Our Latest Research Report on W.R. Berkley
W.R. Berkley Profile
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.
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