Frank Rimerman Advisors LLC Acquires New Position in W. R. Berkley Co. (NYSE:WRB)

Frank Rimerman Advisors LLC acquired a new position in W. R. Berkley Co. (NYSE:WRB) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 10,394 shares of the insurance provider’s stock, valued at approximately $817,000.

A number of other large investors have also bought and sold shares of WRB. Brown Advisory Inc. raised its holdings in W. R. Berkley by 35.8% in the 4th quarter. Brown Advisory Inc. now owns 5,069 shares of the insurance provider’s stock worth $359,000 after purchasing an additional 1,336 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in W. R. Berkley by 108.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 28,747 shares of the insurance provider’s stock valued at $2,033,000 after buying an additional 14,933 shares during the last quarter. Commerce Bank lifted its holdings in W. R. Berkley by 5.3% in the fourth quarter. Commerce Bank now owns 8,332 shares of the insurance provider’s stock valued at $589,000 after acquiring an additional 422 shares during the period. Advisory Services Network LLC lifted its stake in shares of W. R. Berkley by 12.6% in the 4th quarter. Advisory Services Network LLC now owns 39,405 shares of the insurance provider’s stock worth $2,787,000 after purchasing an additional 4,409 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its position in W. R. Berkley by 50.2% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 10,203 shares of the insurance provider’s stock worth $722,000 after acquiring an additional 3,412 shares during the period. 68.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WRB has been the topic of a number of analyst reports. StockNews.com cut W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Truist Financial increased their price target on W. R. Berkley from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. TD Cowen began coverage on shares of W. R. Berkley in a research report on Monday, July 1st. They set a “buy” rating and a $103.00 price objective for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $57.00 target price on shares of W. R. Berkley in a report on Tuesday, July 23rd. Finally, Barclays assumed coverage on shares of W. R. Berkley in a research note on Wednesday, September 4th. They set an “underweight” rating and a $56.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.70.

W. R. Berkley Stock Performance

WRB stock opened at $57.44 on Tuesday. W. R. Berkley Co. has a 1-year low of $41.37 and a 1-year high of $61.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market capitalization of $22.03 billion, a P/E ratio of 15.28, a PEG ratio of 1.05 and a beta of 0.62. The business has a 50-day moving average price of $56.82 and a 200 day moving average price of $72.82.

W. R. Berkley (NYSE:WRB) last released its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.04 EPS for the quarter, topping the consensus estimate of $0.92 by $0.12. W. R. Berkley had a return on equity of 21.34% and a net margin of 12.05%. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the company posted $1.14 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities research analysts forecast that W. R. Berkley Co. will post 4.03 EPS for the current fiscal year.

W. R. Berkley Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, September 23rd. This represents a $0.32 annualized dividend and a dividend yield of 0.56%. W. R. Berkley’s dividend payout ratio is presently 8.51%.

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.