Harbour Investments Inc. Sells 1,266 Shares of W. R. Berkley Co. (NYSE:WRB)

Harbour Investments Inc. decreased its holdings in W. R. Berkley Co. (NYSE:WRB) by 26.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,582 shares of the insurance provider’s stock after selling 1,266 shares during the period. Harbour Investments Inc.’s holdings in W. R. Berkley were worth $203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. US Bancorp DE boosted its holdings in shares of W. R. Berkley by 6.7% in the first quarter. US Bancorp DE now owns 10,841 shares of the insurance provider’s stock worth $959,000 after acquiring an additional 682 shares during the period. Avantax Advisory Services Inc. boosted its stake in W. R. Berkley by 29.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,132 shares of the insurance provider’s stock worth $542,000 after purchasing an additional 1,399 shares during the period. Vanguard Group Inc. grew its holdings in W. R. Berkley by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 24,439,361 shares of the insurance provider’s stock valued at $2,161,417,000 after buying an additional 195,763 shares in the last quarter. Covestor Ltd increased its position in shares of W. R. Berkley by 173.0% during the first quarter. Covestor Ltd now owns 546 shares of the insurance provider’s stock valued at $48,000 after buying an additional 346 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of W. R. Berkley by 9.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 29,845 shares of the insurance provider’s stock valued at $2,640,000 after acquiring an additional 2,483 shares during the period. Institutional investors own 68.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WRB shares. Wells Fargo & Company upped their price target on shares of W. R. Berkley from $63.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. StockNews.com upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Truist Financial lifted their price target on W. R. Berkley from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Bank of America increased their price objective on W. R. Berkley from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group boosted their target price on W. R. Berkley from $53.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, W. R. Berkley currently has an average rating of “Hold” and a consensus target price of $63.08.

W. R. Berkley Stock Performance

Shares of WRB stock opened at $60.74 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.36 and a current ratio of 0.36. W. R. Berkley Co. has a fifty-two week low of $45.75 and a fifty-two week high of $61.96. The company has a market capitalization of $23.15 billion, a P/E ratio of 15.56, a PEG ratio of 1.21 and a beta of 0.62. The stock has a 50 day moving average price of $58.46 and a two-hundred day moving average price of $56.18.

W. R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Monday, October 21st. The insurance provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.93 billion. W. R. Berkley had a net margin of 11.96% and a return on equity of 20.41%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 EPS. Analysts expect that W. R. Berkley Co. will post 3.96 earnings per share for the current year.

W. R. Berkley Dividend Announcement

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 dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.53%. W. R. Berkley’s dividend payout ratio is currently 8.20%.

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.