Entropy Technologies LP Purchases Shares of 33,496 W.R. Berkley Corporation $WRB

Entropy Technologies LP purchased a new position in shares of W.R. Berkley Corporation (NYSE:WRB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 33,496 shares of the insurance provider’s stock, valued at approximately $2,220,000.

Other hedge funds have also made changes to their positions in the company. Stoneridge Investment Partners LLC purchased a new stake in W.R. Berkley in the 4th quarter valued at about $2,801,000. Generali Asset Management SPA SGR purchased a new position in shares of W.R. Berkley during the 4th quarter worth about $1,630,000. PFA Pension Forsikringsaktieselskab purchased a new position in shares of W.R. Berkley during the 4th quarter worth about $65,233,000. Citadel Investment Advisory Inc. boosted its position in shares of W.R. Berkley by 105.4% in the fourth quarter. Citadel Investment Advisory Inc. now owns 29,693 shares of the insurance provider’s stock worth $2,082,000 after acquiring an additional 15,240 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of W.R. Berkley by 6.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 634,244 shares of the insurance provider’s stock worth $43,991,000 after acquiring an additional 41,125 shares during the last quarter. Institutional investors and hedge funds own 68.82% of the company’s stock.

W.R. Berkley Stock Performance

Shares of NYSE:WRB opened at $75.48 on Monday. The company has a market cap of $28.10 billion, a P/E ratio of 15.50, a PEG ratio of 3.51 and a beta of 0.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.36 and a current ratio of 0.36. W.R. Berkley Corporation has a one year low of $62.87 and a one year high of $78.96. The business’s 50-day simple moving average is $69.20 and its 200 day simple moving average is $68.43.

W.R. Berkley (NYSE:WRB) last released its quarterly earnings results on Monday, July 20th. The insurance provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.08 by $0.19. W.R. Berkley had a return on equity of 19.49% and a net margin of 12.94%.The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the previous year, the company posted $1.05 EPS. W.R. Berkley’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts forecast that W.R. Berkley Corporation will post 4.75 earnings per share for the current fiscal year.

W.R. Berkley Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 23rd were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. This is a boost from W.R. Berkley’s previous quarterly dividend of $0.09. The ex-dividend date was Tuesday, June 23rd. W.R. Berkley’s payout ratio is currently 8.21%.

More W.R. Berkley News

Here are the key news stories impacting W.R. Berkley this week:

• Positive Sentiment: WRB is being highlighted as a top long-term momentum stock, with coverage pointing to strong style scores and market-beating characteristics that can support investor demand. Article Title
• Positive Sentiment: Analysts and market commentary are reacting favorably to W.R. Berkley’s Q2 results, with reports saying the earnings beat and ongoing share buybacks are reinforcing the bull case and leading some firms to raise price targets. Article Title
• Positive Sentiment: WRB is also being described as a strong value stock and a portfolio “ballast,” which may appeal to investors looking for quality, defensive exposure in property and casualty insurance. Article Title
• Neutral Sentiment: One report compares W.R. Berkley with Allstate on value metrics, which is more of a relative-stock-selection piece than a clear catalyst for the shares. Article Title
• Neutral Sentiment: Another article notes that W.R. Berkley’s baby bonds offer 7%+ yields at investment-grade risk, which supports the company’s credit profile but is unlikely to move the common stock materially on its own. Article Title
• Negative Sentiment: There is some caution in the analyst community, as one report says W.R. Berkley currently carries an average rating of “Reduce,” suggesting valuation or upside concerns remain. Article Title

Analyst Upgrades and Downgrades

Several brokerages recently commented on WRB. Argus lowered shares of W.R. Berkley from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $74.00 price target (up from $70.00) on shares of W.R. Berkley in a report on Thursday, July 9th. Keefe, Bruyette & Woods restated a “market perform” rating on shares of W.R. Berkley in a report on Tuesday, July 21st. Wall Street Zen raised W.R. Berkley from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Truist Financial lifted their target price on W.R. Berkley from $78.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $70.44.

W.R. Berkley Company Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.