Norges Bank Takes $435.75 Million Position in W.R. Berkley Corporation $WRB

Norges Bank acquired a new stake in W.R. Berkley Corporation (NYSE:WRB – Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,214,380 shares of the insurance provider’s stock, valued at approximately $435,752,000. Norges Bank owned approximately 1.64% of W.R. Berkley at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of WRB. Entrust Financial LLC acquired a new position in shares of W.R. Berkley in the 4th quarter valued at about $25,000. Compass Financial Services Inc purchased a new stake in shares of W.R. Berkley during the 3rd quarter valued at about $26,000. Triumph Capital Management purchased a new stake in shares of W.R. Berkley during the 3rd quarter valued at about $35,000. Physician Wealth Advisors Inc. raised its holdings in shares of W.R. Berkley by 40.2% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 523 shares of the insurance provider’s stock valued at $40,000 after buying an additional 150 shares during the period. Finally, Westside Investment Management Inc. raised its holdings in shares of W.R. Berkley by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 528 shares of the insurance provider’s stock valued at $40,000 after buying an additional 264 shares during the period. 68.82% of the stock is owned by institutional investors and hedge funds.

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W.R. Berkley Price Performance

Shares of NYSE WRB opened at $64.43 on Tuesday. W.R. Berkley Corporation has a twelve month low of $62.87 and a twelve month high of $78.96. The company has a market capitalization of $23.98 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 3.00 and a beta of 0.33. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.29. The business has a 50 day simple moving average of $66.31 and a 200-day simple moving average of $69.10.

W.R. Berkley (NYSE:WRB – Get 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, beating analysts’ consensus estimates 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 business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts expect that W.R. Berkley Corporation will post 4.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WRB has been the topic of several analyst reports. Weiss Ratings downgraded W.R. Berkley from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 20th. Evercore reiterated an “underperform” rating on shares of W.R. Berkley in a report on Monday, March 9th. Argus downgraded W.R. Berkley from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Brean Capital downgraded W.R. Berkley from a “buy” rating to a “neutral” rating and set a $73.00 target price on the stock. in a report on Wednesday, March 25th. Finally, Barclays raised their target price on W.R. Berkley from $62.00 to $64.00 and gave the company an “underweight” rating in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $68.81.

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W.R. Berkley Company 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.

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