nVerses Capital LLC Purchases New Stake in W. R. Berkley Co. (NYSE:WRB)

nVerses Capital LLC acquired a new position in shares of W. R. Berkley Co. (NYSE:WRB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,600 shares of the insurance provider’s stock, valued at approximately $147,000.

A number of other large investors also recently added to or reduced their stakes in the business. Sound Income Strategies LLC lifted its holdings in W. R. Berkley by 563.2% in the first quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider’s stock valued at $40,000 after buying an additional 383 shares during the period. Quarry LP acquired a new position in shares of W. R. Berkley in the 2nd quarter valued at $42,000. Covestor Ltd boosted its position in shares of 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 purchasing an additional 346 shares during the last quarter. Kiely Wealth Advisory Group Inc. grew its stake in shares of W. R. Berkley by 49.9% during the second quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 193 shares during the period. Finally, Armstrong Advisory Group Inc. increased its holdings in W. R. Berkley by 51.0% in the third quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 209 shares during the last quarter. 68.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WRB has been the subject of several analyst reports. Royal Bank of Canada restated 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. Truist Financial increased their target price on shares of W. R. Berkley from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group boosted their price target on shares of W. R. Berkley from $66.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Barclays began coverage on W. R. Berkley in a research note on Wednesday, September 4th. They set an “underweight” rating and a $56.00 price objective on the stock. Finally, TD Cowen initiated coverage on W. R. Berkley in a research note on Monday, July 1st. They issued a “buy” rating and a $68.67 target price for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, W. R. Berkley currently has a consensus rating of “Hold” and a consensus price target of $61.64.

W. R. Berkley Stock Up 0.4 %

Shares of WRB stock opened at $61.26 on Friday. The firm’s fifty day moving average price is $58.16 and its two-hundred day moving average price is $55.54. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.36. W. R. Berkley Co. has a 1 year low of $41.82 and a 1 year high of $61.60. The firm has a market capitalization of $23.49 billion, a P/E ratio of 16.29, a PEG ratio of 1.07 and a beta of 0.62.

W. R. Berkley (NYSE:WRB) last announced its earnings results on Monday, July 22nd. The insurance provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.12. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $2.84 billion. W. R. Berkley had a return on equity of 21.34% and a net margin of 12.05%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. On average, equities analysts predict that W. R. Berkley Co. will post 4.02 EPS for the current fiscal year.

W. R. Berkley Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a dividend of $0.08 per share. The ex-dividend date was Monday, September 23rd. This represents a $0.32 annualized dividend and a dividend yield of 0.52%. W. R. Berkley’s dividend payout ratio is presently 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.