Truist Financial Corp Has $63.80 Million Stock Position in W. R. Berkley Co. (NYSE:WRB)

Truist Financial Corp lifted its stake in shares of W. R. Berkley Co. (NYSE:WRB) by 3.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 811,844 shares of the insurance provider’s stock after buying an additional 26,738 shares during the period. Truist Financial Corp’s holdings in W. R. Berkley were worth $63,795,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sound Income Strategies LLC grew its holdings in shares of W. R. Berkley by 563.2% during the 1st quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 383 shares in the last quarter. Quarry LP acquired a new stake in shares of W. R. Berkley during the 2nd quarter worth $42,000. Intelligent Financial Strategies acquired a new stake in W. R. Berkley in the first quarter valued at about $44,000. Kiely Wealth Advisory Group Inc. boosted its stake in W. R. Berkley by 49.9% in the second quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock valued at $46,000 after buying an additional 193 shares in the last quarter. Finally, Covestor Ltd boosted its stake in W. R. Berkley by 173.0% in 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 in the last quarter. 68.82% of the stock is owned by institutional investors and hedge funds.

W. R. Berkley Price Performance

Shares of WRB opened at $57.26 on Wednesday. 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 $21.96 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.05 and a beta of 0.62. The business has a 50-day moving average of $57.09 and a 200-day moving average of $71.81.

W. R. Berkley (NYSE:WRB) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the company earned $1.14 earnings per share. The firm’s revenue was up 10.6% compared to the same quarter last year. As a group, equities research analysts anticipate that W. R. Berkley Co. will post 4.03 earnings per share for the current year.

W. R. Berkley Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a dividend of $0.08 per share. The ex-dividend date was Monday, September 23rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%. W. R. Berkley’s dividend payout ratio (DPR) is 8.51%.

Analyst Ratings Changes

Several research firms recently weighed in on WRB. Barclays began coverage on W. R. Berkley in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $56.00 price objective on the stock. Truist Financial raised their price objective 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. Wells Fargo & Company reduced their price objective on W. R. Berkley from $62.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. StockNews.com raised W. R. Berkley from a “hold” rating to a “buy” rating in a research note on Wednesday, September 25th. Finally, The Goldman Sachs Group downgraded W. R. Berkley from a “buy” rating to a “neutral” rating and dropped their target price for the company from $88.00 to $83.00 in a research report on Thursday, June 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $77.70.

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.