W.R. Berkley Corporation $WRB Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its position in W.R. Berkley Corporation (NYSE:WRBFree Report) by 25.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,442 shares of the insurance provider’s stock after selling 21,898 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in W.R. Berkley were worth $4,337,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Stoneridge Investment Partners LLC acquired a new position in shares of W.R. Berkley during the 4th quarter worth about $2,801,000. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of W.R. Berkley during the 4th quarter worth about $65,233,000. Generali Asset Management SPA SGR purchased a new stake in W.R. Berkley during the fourth quarter worth approximately $1,630,000. Citadel Investment Advisory Inc. boosted its holdings in W.R. Berkley by 105.4% in the fourth quarter. Citadel Investment Advisory Inc. now owns 29,693 shares of the insurance provider’s stock valued at $2,082,000 after purchasing an additional 15,240 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in W.R. Berkley by 6.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 634,244 shares of the insurance provider’s stock valued at $43,991,000 after purchasing an additional 41,125 shares during the last quarter. 68.82% of the stock is owned by hedge funds and other institutional investors.

W.R. Berkley Trading Down 0.6%

NYSE:WRB opened at $75.69 on Thursday. W.R. Berkley Corporation has a 12-month low of $62.87 and a 12-month high of $78.96. 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 stock’s 50 day simple moving average is $69.64 and its 200-day simple moving average is $68.57. The firm has a market cap of $28.18 billion, a P/E ratio of 15.54, a PEG ratio of 3.52 and a beta of 0.29.

W.R. Berkley (NYSE:WRBGet Free Report) last issued its quarterly earnings results on Monday, July 20th. The insurance provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.19. W.R. Berkley had a return on equity of 19.49% and a net margin of 12.94%.The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period last year, the company earned $1.05 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts anticipate that W.R. Berkley Corporation will post 4.78 EPS for the current year.

W.R. Berkley Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 23rd were paid a $0.10 dividend. This is a boost from W.R. Berkley’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, June 23rd. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. W.R. Berkley’s dividend payout ratio (DPR) is 8.21%.

Wall Street Analyst Weigh In

WRB has been the topic of a number of research analyst reports. Wolfe Research cut shares of W.R. Berkley from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. Bank of America reaffirmed an “underperform” rating and issued a $68.00 target price (down from $74.00) on shares of W.R. Berkley in a research report on Thursday, July 16th. Cantor Fitzgerald reiterated a “neutral” rating and set a $74.00 price target (up from $70.00) on shares of W.R. Berkley in a research note on Thursday, July 9th. Atlantic Securities set a $74.00 price target on shares of W.R. Berkley in a research report on Wednesday, July 15th. Finally, Truist Financial upped their price objective on shares of W.R. Berkley from $78.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, W.R. Berkley has an average rating of “Reduce” and a consensus price target of $70.94.

Get Our Latest Stock Report on WRB

About W.R. Berkley

(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.

Further Reading

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Institutional Ownership by Quarter for W.R. Berkley (NYSE:WRB)

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