Elo Mutual Pension Insurance Co Lowers Holdings in W. R. Berkley Co. (NYSE:WRB)

Elo Mutual Pension Insurance Co reduced its stake in W. R. Berkley Co. (NYSE:WRB) by 8.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,260 shares of the insurance provider’s stock after selling 1,590 shares during the period. Elo Mutual Pension Insurance Co’s holdings in W. R. Berkley were worth $1,356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sound Income Strategies LLC grew its position in W. R. Berkley by 563.2% during the 1st quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 383 shares during the last quarter. Intelligent Financial Strategies purchased a new stake in shares of W. R. Berkley during the first quarter valued at approximately $44,000. 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 acquiring an additional 346 shares in the last quarter. Evermay Wealth Management LLC purchased a new position in W. R. Berkley in the 1st quarter worth approximately $65,000. Finally, Mascoma Wealth Management LLC purchased a new position in shares of W. R. Berkley in the second quarter worth $62,000. 68.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WRB shares. Truist Financial increased their price objective on W. R. Berkley from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group cut shares of W. R. Berkley from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $88.00 to $83.00 in a report on Thursday, June 13th. StockNews.com cut shares of W. R. Berkley from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. Wells Fargo & Company decreased their target price on shares of W. R. Berkley from $62.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $57.00 price target on shares of W. R. Berkley in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $77.70.

W. R. Berkley Stock Down 0.1 %

NYSE WRB opened at $57.45 on Friday. The stock’s 50-day moving average price is $56.76 and its 200-day moving average price is $73.16. The company has a market capitalization of $22.03 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 1.05 and a beta of 0.62. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.36. W. R. Berkley Co. has a 52 week low of $41.37 and a 52 week high of $61.28.

W. R. Berkley (NYSE:WRB) last issued its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.12. The business had revenue of $3.31 billion for 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 revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. On average, equities research analysts predict that W. R. Berkley Co. will post 4.03 earnings per share for the current year.

W. R. Berkley Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $0.32 dividend on an annualized basis and a yield of 0.56%. W. R. Berkley’s 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.