Mutual of America Capital Management LLC Increases Stock Holdings in W. R. Berkley Co. (NYSE:WRB)

Mutual of America Capital Management LLC raised its stake in W. R. Berkley Co. (NYSE:WRBGet Rating) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 28,557 shares of the insurance provider’s stock after purchasing an additional 608 shares during the quarter. Mutual of America Capital Management LLC’s holdings in W. R. Berkley were worth $1,949,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wolff Wiese Magana LLC grew its stake in shares of W. R. Berkley by 49.3% in the 1st quarter. Wolff Wiese Magana LLC now owns 448 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 148 shares during the last quarter. First Manhattan Co. boosted its stake in shares of W. R. Berkley by 50.0% in the first quarter. First Manhattan Co. now owns 486 shares of the insurance provider’s stock valued at $32,000 after buying an additional 162 shares in the last quarter. MAI Capital Management boosted its stake in shares of W. R. Berkley by 2.8% in the second quarter. MAI Capital Management now owns 6,322 shares of the insurance provider’s stock valued at $432,000 after buying an additional 175 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its stake in shares of W. R. Berkley by 26.7% in the first quarter. Deseret Mutual Benefit Administrators now owns 877 shares of the insurance provider’s stock valued at $58,000 after buying an additional 185 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of W. R. Berkley by 1.4% in the second quarter. EverSource Wealth Advisors LLC now owns 13,994 shares of the insurance provider’s stock valued at $955,000 after buying an additional 193 shares in the last quarter. 69.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on WRB shares. Morgan Stanley lifted their price target on W. R. Berkley from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Tuesday. UBS Group lifted their price target on W. R. Berkley to $84.00 in a research note on Friday, November 4th. Royal Bank of Canada lifted their price target on W. R. Berkley from $75.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, October 25th. Janney Montgomery Scott initiated coverage on W. R. Berkley in a research note on Friday, November 11th. They issued a “buy” rating and a $88.00 price target on the stock. Finally, Argus initiated coverage on W. R. Berkley in a report on Wednesday, August 3rd. They set a “buy” rating and a $72.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.64.

W. R. Berkley Stock Performance

NYSE WRB opened at $74.38 on Thursday. W. R. Berkley Co. has a fifty-two week low of $50.44 and a fifty-two week high of $76.06. The stock has a market cap of $19.75 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 1.92 and a beta of 0.64. The business has a fifty day moving average of $69.82 and a 200-day moving average of $67.70. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.45.

W. R. Berkley (NYSE:WRBGet Rating) last released its quarterly earnings results on Monday, October 24th. The insurance provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. W. R. Berkley had a return on equity of 17.98% and a net margin of 12.05%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, analysts predict that W. R. Berkley Co. will post 4.29 earnings per share for the current fiscal year.

W. R. Berkley Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 26th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, September 23rd. W. R. Berkley’s dividend payout ratio is currently 8.62%.

About W. R. Berkley

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W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and general and professional liability lines.

Further Reading

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

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