BI Asset Management Fondsmaeglerselskab A S lowered its stake in W.R. Berkley Corporation (NYSE:WRB – Free Report) by 73.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 7,707 shares of the insurance provider’s stock after selling 21,196 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in W.R. Berkley were worth $511,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of WRB. Brighton Jones LLC increased its position 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 acquiring an additional 21,737 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of 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 boosted its position in shares of W.R. Berkley by 399.0% during the 1st quarter. Acadian Asset Management LLC now owns 9,506 shares of the insurance provider’s stock worth $675,000 after purchasing an additional 7,601 shares during the period. Cary Street Partners Financial LLC boosted its position in shares of 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 purchasing an additional 512 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in W.R. Berkley by 12.0% in 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. Hedge funds and other institutional investors own 68.82% of the company’s stock.
W.R. Berkley Price Performance
W.R. Berkley stock opened at $69.33 on Friday. The firm has a market cap of $25.81 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 3.31 and a beta of 0.30. W.R. Berkley Corporation has a 52-week low of $62.87 and a 52-week high of $78.96. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $66.94 and its two-hundred day moving average is $68.09.
W.R. Berkley Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 23rd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. This is a boost from W.R. Berkley’s previous quarterly dividend of $0.09. The ex-dividend date is Tuesday, June 23rd. W.R. Berkley’s dividend payout ratio (DPR) is 8.47%.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. Barclays reissued an “underweight” rating and issued a $62.00 target price (down from $64.00) on shares of W.R. Berkley in a research report on Friday, June 12th. Truist Financial dropped their price objective on W.R. Berkley from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. UBS Group set a $68.00 price objective on W.R. Berkley and gave the company a “neutral” rating in a report on Monday, April 27th. Weiss Ratings lowered W.R. Berkley from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. Finally, Wells Fargo & Company cut W.R. Berkley from an “overweight” rating to an “underweight” rating and lowered their target price for the company from $64.00 to $58.00 in a report on Monday, June 8th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $68.31.
View Our Latest Stock Analysis on W.R. Berkley
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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