Toronto Dominion Bank Lowers Position in W. R. Berkley Co. (NYSE:WRB)

Toronto Dominion Bank lowered its stake in W. R. Berkley Co. (NYSE:WRB) by 17.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,834 shares of the insurance provider’s stock after selling 21,674 shares during the quarter. Toronto Dominion Bank’s holdings in W. R. Berkley were worth $7,845,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in WRB. Sound Income Strategies LLC lifted its holdings in W. R. Berkley by 563.2% during the first quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 383 shares in the last quarter. Intelligent Financial Strategies purchased a new position in shares of W. R. Berkley during the 1st quarter valued at $44,000. Kiely Wealth Advisory Group Inc. lifted its stake in shares of W. R. Berkley by 49.9% during the 2nd quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock valued at $46,000 after buying an additional 193 shares in the last quarter. Covestor Ltd boosted its holdings in W. R. Berkley by 173.0% in the 1st quarter. Covestor Ltd now owns 546 shares of the insurance provider’s stock worth $48,000 after buying an additional 346 shares during the period. Finally, Mascoma Wealth Management LLC purchased a new stake in W. R. Berkley in the 2nd quarter worth $62,000. Institutional investors own 68.82% of the company’s stock.

W. R. Berkley Stock Performance

Shares of NYSE:WRB opened at $56.51 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $21.67 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.05 and a beta of 0.62. W. R. Berkley Co. has a 12 month low of $41.37 and a 12 month high of $61.28. The firm’s 50-day moving average is $56.99 and its 200 day moving average is $72.20.

W. R. Berkley (NYSE:WRB) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.12. W. R. Berkley had a return on equity of 21.34% and a net margin of 12.05%. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the prior year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts predict that W. R. Berkley Co. will post 4.03 EPS for the current year.

W. R. Berkley Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Monday, September 23rd. W. R. Berkley’s dividend payout ratio is presently 8.51%.

Analyst Upgrades and Downgrades

WRB has been the subject of several recent analyst reports. Truist Financial upped their price target on W. R. Berkley from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group lowered shares of W. R. Berkley from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $88.00 to $83.00 in a research report on Thursday, June 13th. StockNews.com upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays started coverage on shares of W. R. Berkley in a report on Wednesday, September 4th. They set an “underweight” rating and a $56.00 price objective for the company. Finally, TD Cowen assumed coverage on W. R. Berkley in a report on Monday, July 1st. They issued a “buy” rating and a $103.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $77.70.

W. R. Berkley Company Profile

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.