Commerzbank Aktiengesellschaft FI bought a new position in shares of W.R. Berkley Corporation (NYSE:WRB – Free Report) in the fourth quarter, Holdings Channel reports. The institutional investor bought 11,347 shares of the insurance provider’s stock, valued at approximately $796,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in W.R. Berkley by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 37,033,581 shares of the insurance provider’s stock valued at $2,596,795,000 after acquiring an additional 309,828 shares during the last quarter. State Street Corp raised its holdings in W.R. Berkley by 1.0% in the 3rd quarter. State Street Corp now owns 14,921,114 shares of the insurance provider’s stock valued at $1,143,256,000 after acquiring an additional 149,605 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in W.R. Berkley in the 3rd quarter valued at about $682,816,000. Principal Financial Group Inc. raised its holdings in W.R. Berkley by 4.9% in the 3rd quarter. Principal Financial Group Inc. now owns 5,241,509 shares of the insurance provider’s stock valued at $401,607,000 after acquiring an additional 242,546 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in W.R. Berkley by 33.4% in the 3rd quarter. Invesco Ltd. now owns 4,892,799 shares of the insurance provider’s stock valued at $374,886,000 after acquiring an additional 1,224,363 shares during the last quarter. Hedge funds and other institutional investors own 68.82% of the company’s stock.
W.R. Berkley Stock Performance
W.R. Berkley stock opened at $66.38 on Friday. The firm has a 50 day simple moving average of $66.68 and a 200-day simple moving average of $69.67. W.R. Berkley Corporation has a 1-year low of $63.67 and a 1-year high of $78.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $24.71 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 3.16 and a beta of 0.33.
Insider Activity at W.R. Berkley
In related news, major shareholder Sumitomo Insurance Co L. Mitsui acquired 345,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were purchased at an average cost of $70.65 per share, for a total transaction of $24,374,250.00. Following the acquisition, the insider owned 57,508,038 shares in the company, valued at $4,062,942,884.70. The trade was a 0.60% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have purchased 2,183,798 shares of company stock valued at $155,530,321. Corporate insiders own 23.30% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have commented on WRB shares. Barclays increased their price objective on shares of W.R. Berkley from $62.00 to $64.00 and gave the company an “underweight” rating in a report on Wednesday, April 22nd. Mizuho cut their price objective on shares of W.R. Berkley from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. Wells Fargo & Company cut their price objective on shares of W.R. Berkley from $66.00 to $64.00 and set an “equal weight” rating for the company in a report on Wednesday, April 22nd. Truist Financial cut 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 report on Wednesday, April 22nd. Finally, Brean Capital downgraded shares of W.R. Berkley from a “buy” rating to a “neutral” rating and set a $73.00 price objective for the company. in a report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, W.R. Berkley has a consensus rating of “Reduce” and a consensus target price of $68.81.
Read Our Latest Stock Analysis on WRB
W.R. Berkley Company 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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