GAMMA Investing LLC grew its position in shares of W. R. Berkley Co. (NYSE:WRB – Free Report) by 32.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,627 shares of the insurance provider’s stock after purchasing an additional 1,888 shares during the quarter. GAMMA Investing LLC’s holdings in W. R. Berkley were worth $446,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in WRB. JPMorgan Chase & Co. increased its holdings in W. R. Berkley by 55.1% in the third quarter. JPMorgan Chase & Co. now owns 7,366,424 shares of the insurance provider’s stock valued at $417,897,000 after buying an additional 2,616,227 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of W. R. Berkley by 211.3% during the 3rd quarter. Principal Financial Group Inc. now owns 3,674,171 shares of the insurance provider’s stock valued at $208,436,000 after acquiring an additional 2,493,758 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of W. R. Berkley by 50.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 4,646 shares of the insurance provider’s stock valued at $264,000 after purchasing an additional 1,566 shares in the last quarter. Garden State Investment Advisory Services LLC acquired a new position in W. R. Berkley in the 3rd quarter worth about $233,000. Finally, Retirement Systems of Alabama boosted its position in W. R. Berkley by 46.5% during the third quarter. Retirement Systems of Alabama now owns 65,267 shares of the insurance provider’s stock worth $3,703,000 after purchasing an additional 20,715 shares in the last quarter. 68.82% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on WRB. Royal Bank of Canada upped their target price on W. R. Berkley from $57.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods decreased their price objective on shares of W. R. Berkley from $59.00 to $58.00 and set a “market perform” rating on the stock in a report on Tuesday, October 22nd. Truist Financial boosted their target price on shares of W. R. Berkley from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. UBS Group raised their price target on shares of W. R. Berkley from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group upgraded W. R. Berkley from a “neutral” rating to a “buy” rating and set a $69.00 price objective for the company in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, W. R. Berkley currently has an average rating of “Hold” and a consensus target price of $64.28.
W. R. Berkley Price Performance
W. R. Berkley stock opened at $57.93 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.34. The stock has a market cap of $22.08 billion, a P/E ratio of 14.84, a PEG ratio of 1.17 and a beta of 0.67. The company has a 50-day moving average price of $60.33 and a 200 day moving average price of $58.16. W. R. Berkley Co. has a 12-month low of $47.59 and a 12-month high of $65.49.
W. R. Berkley (NYSE:WRB – Get Free Report) last released its quarterly earnings results on Monday, October 21st. The insurance provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01. The firm had revenue of $2.93 billion for 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 business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. Sell-side analysts anticipate that W. R. Berkley Co. will post 3.96 earnings per share for the current year.
W. R. Berkley Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Monday, December 16th. W. R. Berkley’s dividend payout ratio (DPR) is presently 8.21%.
W. R. Berkley Company 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.
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