Raymond James & Associates Sells 20,016 Shares of W. R. Berkley Co. (NYSE:WRB)

Raymond James & Associates decreased its holdings in shares of W. R. Berkley Co. (NYSE:WRBFree Report) by 2.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 749,007 shares of the insurance provider’s stock after selling 20,016 shares during the period. Raymond James & Associates’ holdings in W. R. Berkley were worth $52,970,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WRB. Bruce G. Allen Investments LLC purchased a new stake in shares of W. R. Berkley in the fourth quarter valued at approximately $25,000. Clear Street Markets LLC lifted its holdings in W. R. Berkley by 92.3% during the first quarter. Clear Street Markets LLC now owns 398 shares of the insurance provider’s stock worth $25,000 after buying an additional 191 shares during the period. Parkside Financial Bank & Trust lifted its holdings in W. R. Berkley by 106.1% during the third quarter. Parkside Financial Bank & Trust now owns 406 shares of the insurance provider’s stock worth $26,000 after buying an additional 209 shares during the period. Raleigh Capital Management Inc. lifted its holdings in W. R. Berkley by 132.6% during the third quarter. Raleigh Capital Management Inc. now owns 414 shares of the insurance provider’s stock worth $26,000 after buying an additional 236 shares during the period. Finally, VisionPoint Advisory Group LLC purchased a new stake in W. R. Berkley during the third quarter worth $27,000. Institutional investors own 68.82% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WRB. UBS Group increased their price objective on W. R. Berkley from $81.00 to $93.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Evercore ISI reiterated an “in-line” rating and set a $79.00 price objective (up previously from $69.00) on shares of W. R. Berkley in a report on Tuesday, January 9th. Truist Financial increased their price objective on W. R. Berkley from $83.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Wells Fargo & Company increased their price objective on W. R. Berkley from $84.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Finally, Royal Bank of Canada increased their price objective on W. R. Berkley from $73.00 to $79.00 and gave the company a “sector perform” rating in a report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $84.11.

Check Out Our Latest Stock Analysis on WRB

W. R. Berkley Price Performance

NYSE WRB opened at $88.18 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.37 and a quick ratio of 0.37. The stock’s fifty day moving average price is $82.83 and its 200 day moving average price is $73.43. W. R. Berkley Co. has a 1 year low of $55.50 and a 1 year high of $88.21. The company has a market cap of $22.62 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.61 and a beta of 0.57.

W. R. Berkley (NYSE:WRBGet Free Report) last released its earnings results on Wednesday, January 24th. The insurance provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.10. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $2.70 billion. W. R. Berkley had a return on equity of 19.03% and a net margin of 11.38%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. As a group, equities research analysts forecast that W. R. Berkley Co. will post 6 earnings per share for the current year.

W. R. Berkley Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, March 4th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.50%. W. R. Berkley’s payout ratio is currently 8.70%.

W. R. Berkley Profile

(Free Report)

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writers worldwide. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines, and specialty personal lines.

See Also

Want to see what other hedge funds are holding WRB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for W. R. Berkley Co. (NYSE:WRBFree Report).

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

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