Atomi Financial Group Inc. Acquires 1,575 Shares of W. R. Berkley Co. (NYSE:WRB)

Atomi Financial Group Inc. increased its holdings in shares of W. R. Berkley Co. (NYSE:WRB) by 45.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,032 shares of the insurance provider’s stock after acquiring an additional 1,575 shares during the period. Atomi Financial Group Inc.’s holdings in W. R. Berkley were worth $285,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sound Income Strategies LLC grew its stake in shares of W. R. Berkley by 563.2% in 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 period. Quarry LP acquired a new position in W. R. Berkley during the second quarter worth $42,000. Intelligent Financial Strategies bought a new position in shares of W. R. Berkley during the first quarter valued at $44,000. Kiely Wealth Advisory Group Inc. grew its holdings in shares of W. R. Berkley by 49.9% in the 2nd quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 193 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of W. R. Berkley by 173.0% during the 1st quarter. Covestor Ltd now owns 546 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 346 shares in the last quarter. Institutional investors own 68.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on WRB. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 price objective on shares of W. R. Berkley in a research note on Tuesday, July 23rd. Wells Fargo & Company raised their price target on W. R. Berkley from $59.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday. StockNews.com lowered W. R. Berkley from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. TD Cowen began coverage on W. R. Berkley in a research note on Monday, July 1st. They issued a “buy” rating and a $68.67 target price for the company. Finally, Truist Financial lifted their price target on W. R. Berkley from $62.00 to $64.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $60.89.

W. R. Berkley Trading Up 0.8 %

Shares of NYSE WRB opened at $58.57 on Friday. The firm has a market capitalization of $22.29 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.07 and a beta of 0.62. The company’s 50 day simple moving average is $57.76 and its 200 day simple moving average is $55.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.38 and a quick ratio of 0.38. W. R. Berkley Co. has a fifty-two week low of $41.82 and a fifty-two week high of $61.28.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings data 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 firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $2.84 billion. W. R. Berkley had a net margin of 12.05% and a return on equity of 21.34%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 earnings per share. On average, analysts predict that W. R. Berkley Co. will post 4.02 EPS 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 issued a $0.08 dividend. The ex-dividend date was Monday, September 23rd. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. W. R. Berkley’s dividend payout ratio is currently 8.39%.

About W. R. Berkley

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.