Stance Capital LLC lessened its holdings in W.R. Berkley Corporation (NYSE:WRB – Free Report) by 33.0% during the 4th quarter, HoldingsChannel reports. The firm owned 32,219 shares of the insurance provider’s stock after selling 15,900 shares during the period. Stance Capital LLC’s holdings in W.R. Berkley were worth $2,259,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of WRB. Entrust Financial LLC bought a new position in W.R. Berkley during the fourth quarter valued at $25,000. Hazlett Burt & Watson Inc. increased its holdings in shares of W.R. Berkley by 140.0% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock worth $26,000 after buying an additional 210 shares during the last quarter. DV Equities LLC bought a new stake in shares of W.R. Berkley in the 4th quarter worth about $29,000. Triumph Capital Management purchased a new stake in shares of W.R. Berkley during the 3rd quarter valued at about $35,000. Finally, Quarry LP bought a new position in shares of W.R. Berkley in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently commented on the company. Truist Financial dropped their price target on 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. Cantor Fitzgerald cut W.R. Berkley from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $75.00 to $71.00 in a report on Thursday, April 9th. UBS Group set a $68.00 target price on W.R. Berkley and gave the company a “neutral” rating in a research report on Monday, April 27th. Evercore restated an “underperform” rating on shares of W.R. Berkley in a report on Monday, March 9th. Finally, The Goldman Sachs Group upgraded W.R. Berkley from a “neutral” rating to a “buy” rating and raised their price target for the stock from $71.00 to $73.00 in a research report on Monday, June 8th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $68.31.
W.R. Berkley Stock Up 0.1%
Shares of NYSE:WRB opened at $67.27 on Friday. W.R. Berkley Corporation has a 1 year low of $62.87 and a 1 year high of $78.96. The business has a 50 day simple moving average of $66.74 and a two-hundred day simple moving average of $68.16. The firm has a market capitalization of $25.04 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 3.18 and a beta of 0.30. 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 (NYSE:WRB – Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The insurance provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.17. W.R. Berkley had a return on equity of 18.92% and a net margin of 12.64%.The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities analysts predict that W.R. Berkley Corporation will post 4.67 EPS for the current year.
W.R. Berkley Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 23rd will be given a $0.10 dividend. This is a boost from W.R. Berkley’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $0.40 annualized dividend and a yield of 0.6%. W.R. Berkley’s dividend payout ratio is currently 7.63%.
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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