Hsbc Holdings PLC Has $72.51 Million Stock Holdings in W. R. Berkley Co. (NYSE:WRB)

Hsbc Holdings PLC lowered its stake in W. R. Berkley Co. (NYSE:WRB) by 13.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 922,779 shares of the insurance provider’s stock after selling 148,752 shares during the period. Hsbc Holdings PLC’s holdings in W. R. Berkley were worth $72,512,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of W. R. Berkley in the 4th quarter valued at $213,635,000. Confluence Investment Management LLC bought a new position in W. R. Berkley in the first quarter valued at about $82,706,000. The Manufacturers Life Insurance Company boosted its stake in shares of W. R. Berkley by 89.2% during 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 purchasing an additional 898,027 shares in the last quarter. Maren Capital LLC bought a new stake in shares of W. R. Berkley during the fourth quarter worth about $37,915,000. Finally, Principal Financial Group Inc. grew its holdings in shares of W. R. Berkley by 83.0% during the second quarter. Principal Financial Group Inc. now owns 1,180,413 shares of the insurance provider’s stock worth $92,757,000 after purchasing an additional 535,471 shares during the last quarter. Institutional investors own 68.82% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Barclays initiated coverage on shares of W. R. Berkley in a report on Wednesday, September 4th. They issued an “underweight” rating and a $56.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 target price on shares of W. R. Berkley in a research report on Tuesday, July 23rd. TD Cowen started coverage on W. R. Berkley in a research report on Monday, July 1st. They issued a “buy” rating and a $103.00 price target on the stock. The Goldman Sachs Group cut W. R. Berkley from a “buy” rating to a “neutral” rating and decreased their price target for the company from $88.00 to $83.00 in a research note on Thursday, June 13th. Finally, Truist Financial lifted their price objective 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. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $77.70.

W. R. Berkley Trading Down 0.5 %

NYSE WRB opened at $57.52 on Friday. The stock has a market capitalization of $22.06 billion, a P/E ratio of 15.30, a P/E/G ratio of 1.05 and a beta of 0.62. The business has a 50 day simple moving average of $56.68 and a 200 day simple moving average of $73.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.38 and a quick ratio of 0.38. W. R. Berkley Co. has a one year low of $41.37 and a one year high of $61.28.

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

W. R. Berkley Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 23rd will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Monday, September 23rd. W. R. Berkley’s dividend payout ratio (DPR) is currently 8.51%.

W. R. Berkley 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.