CIBC Asset Management Inc Sells 1,016 Shares of W. R. Berkley Co. (NYSE:WRB)

CIBC Asset Management Inc lessened its position in shares of W. R. Berkley Co. (NYSE:WRBFree Report) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,167 shares of the insurance provider’s stock after selling 1,016 shares during the period. CIBC Asset Management Inc’s holdings in W. R. Berkley were worth $1,992,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in WRB. NEOS Investment Management LLC acquired a new stake in shares of W. R. Berkley in the fourth quarter valued at approximately $204,000. The Manufacturers Life Insurance Company raised its position in shares of W. R. Berkley by 89.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,904,555 shares of the insurance provider’s stock valued at $134,690,000 after buying an additional 898,027 shares in the last quarter. APG Asset Management US Inc. acquired a new stake in shares of W. R. Berkley in the fourth quarter valued at approximately $2,878,000. Alberta Investment Management Corp acquired a new stake in shares of W. R. Berkley in the fourth quarter valued at approximately $212,000. Finally, Madison Asset Management LLC raised its position in shares of W. R. Berkley by 2.9% in the fourth quarter. Madison Asset Management LLC now owns 768,850 shares of the insurance provider’s stock valued at $54,373,000 after buying an additional 21,521 shares in the last quarter. Institutional investors own 68.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WRB shares. Keefe, Bruyette & Woods dropped their price target on shares of W. R. Berkley from $88.00 to $86.00 and set a “market perform” rating for the company in a research report on Friday, May 3rd. Truist Financial dropped their price target on shares of W. R. Berkley from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Wednesday, April 24th. Royal Bank of Canada lowered their price objective on shares of W. R. Berkley from $88.00 to $86.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 24th. BMO Capital Markets lowered their price objective on shares of W. R. Berkley from $93.00 to $87.00 and set a “market perform” rating for the company in a research report on Wednesday, April 24th. Finally, Wells Fargo & Company lowered their price objective on shares of W. R. Berkley from $99.00 to $94.00 and set an “overweight” rating for the company in a research report on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, W. R. Berkley currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.38.

Get Our Latest Stock Report on WRB

W. R. Berkley Stock Up 0.8 %

Shares of NYSE:WRB opened at $80.21 on Friday. The company has a fifty day moving average of $80.56 and a 200-day moving average of $78.88. The company has a market capitalization of $20.51 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.03 and a beta of 0.63. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.36 and a current ratio of 0.36. W. R. Berkley Co. has a 52-week low of $56.36 and a 52-week high of $89.18.

W. R. Berkley (NYSE:WRBGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The insurance provider reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.10. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.77 billion. W. R. Berkley had a net margin of 12.23% and a return on equity of 20.51%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 earnings per share. On average, equities analysts predict that W. R. Berkley Co. will post 5.82 EPS for the current fiscal year.

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.

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

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