International Assets Investment Management LLC bought a new position in shares of W. R. Berkley Co. (NYSE:WRB – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 156,779 shares of the insurance provider’s stock, valued at approximately $88,940,000.
Several other hedge funds have also added to or reduced their stakes in the business. MJP Associates Inc. ADV boosted its position in W. R. Berkley by 4.0% during the 2nd 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 position in 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 buying an additional 189 shares during the period. Kiely Wealth Advisory Group Inc. lifted its position 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 purchasing an additional 193 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of 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 worth $3,132,000 after purchasing an additional 202 shares during the period. Finally, Armstrong Advisory Group Inc. lifted its position in shares of W. R. Berkley by 51.0% in the 3rd 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 period. 68.82% of the stock is currently owned by institutional investors and hedge funds.
W. R. Berkley Price Performance
Shares of NYSE WRB opened at $58.16 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38. The firm’s 50-day simple moving average is $58.37 and its 200 day simple moving average is $55.60. The stock has a market cap of $22.30 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.07 and a beta of 0.62. W. R. Berkley Co. has a fifty-two week low of $43.20 and a fifty-two week high of $61.96.
W. R. Berkley Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a $0.08 dividend. The ex-dividend date was Monday, September 23rd. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. W. R. Berkley’s dividend payout ratio is currently 8.51%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the stock. Evercore ISI boosted their price target on shares of W. R. Berkley from $57.00 to $60.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada boosted their price target on shares of W. R. Berkley from $57.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 22nd. Barclays assumed coverage on shares of W. R. Berkley in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $56.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of W. R. Berkley from $63.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of W. R. Berkley from $59.00 to $58.00 and set a “market perform” rating for the company in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.08.
Check Out Our Latest Analysis on W. R. Berkley
About W. R. Berkley
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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