Foundations Investment Advisors LLC purchased a new position in shares of W. R. Berkley Co. (NYSE:WRB – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,168 shares of the insurance provider’s stock, valued at approximately $236,000.
A number of other large investors have also made changes to their positions in WRB. MJP Associates Inc. ADV grew its position in W. R. Berkley by 4.0% during the second quarter. MJP Associates Inc. ADV now owns 4,915 shares of the insurance provider’s stock worth $386,000 after buying an additional 188 shares during the period. Atria Investments Inc boosted its stake in shares of W. R. Berkley by 0.4% during the 1st quarter. Atria Investments Inc now owns 50,637 shares of the insurance provider’s stock worth $4,478,000 after acquiring an additional 189 shares in the last quarter. Kiely Wealth Advisory Group Inc. grew its holdings in shares of W. R. Berkley by 49.9% in the 2nd quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 193 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in W. R. Berkley by 0.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 39,857 shares of the insurance provider’s stock valued at $3,132,000 after purchasing an additional 202 shares in the last quarter. Finally, Armstrong Advisory Group Inc. raised its holdings in W. R. Berkley by 51.0% during the third quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 68.82% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on WRB shares. Truist Financial upped their target price on W. R. Berkley from $64.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Barclays assumed coverage on shares of W. R. Berkley in a report on Wednesday, September 4th. They set an “underweight” rating and a $56.00 target price for the company. Keefe, Bruyette & Woods reduced their price target on shares of W. R. Berkley from $59.00 to $58.00 and set a “market perform” rating on the stock in a report on Tuesday, October 22nd. TD Cowen began coverage on shares of W. R. Berkley in a research note on Monday, July 1st. They set a “buy” rating and a $68.67 price objective for the company. Finally, Bank of America lifted their price objective on W. R. Berkley from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.08.
W. R. Berkley Trading Down 1.9 %
Shares of W. R. Berkley stock opened at $58.16 on Friday. The firm has a market cap of $22.30 billion, a PE ratio of 15.47, a P/E/G ratio of 1.07 and a beta of 0.62. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.36. W. R. Berkley Co. has a fifty-two week low of $43.20 and a fifty-two week high of $61.96. The business’s fifty day moving average is $58.37 and its two-hundred day moving average is $55.60.
W. R. Berkley (NYSE:WRB – Get Free Report) last released its earnings results on Monday, October 21st. The insurance provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.01. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.93 billion. W. R. Berkley had a return on equity of 21.34% and a net margin of 12.05%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 earnings per share. Analysts anticipate that W. R. Berkley Co. will post 4.02 earnings per share for the current year.
W. R. Berkley Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Monday, September 23rd. W. R. Berkley’s dividend payout ratio is currently 8.51%.
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.
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