Cresset Asset Management LLC lessened its position in shares of W. R. Berkley Co. (NYSE:WRB - Free Report) by 72.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,364 shares of the insurance provider's stock after selling 13,885 shares during the quarter. Cresset Asset Management LLC's holdings in W. R. Berkley were worth $314,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of W. R. Berkley by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 36,436,473 shares of the insurance provider's stock worth $2,132,262,000 after buying an additional 529,294 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of W. R. Berkley by 1.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,722,476 shares of the insurance provider's stock valued at $685,999,000 after acquiring an additional 116,957 shares during the period. Geode Capital Management LLC raised its holdings in W. R. Berkley by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 7,694,703 shares of the insurance provider's stock worth $449,168,000 after purchasing an additional 103,350 shares during the period. JPMorgan Chase & Co. increased its position 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 worth $417,897,000 after buying an additional 2,616,227 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of W. R. Berkley by 15.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 4,787,361 shares of the insurance provider's stock worth $280,156,000 after buying an additional 632,578 shares during the period. 68.82% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on WRB shares. Morgan Stanley boosted their price objective on W. R. Berkley from $63.00 to $75.00 and gave the company an "equal weight" rating in a research note on Monday. Wells Fargo & Company increased their price objective on shares of W. R. Berkley from $69.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. UBS Group lifted their target price on shares of W. R. Berkley from $73.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Keefe, Bruyette & Woods upped their target price on shares of W. R. Berkley from $65.00 to $75.00 and gave the stock a "market perform" rating in a report on Monday. Finally, Barclays raised their price target on W. R. Berkley from $52.00 to $62.00 and gave the company an "underweight" rating in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $70.64.
Read Our Latest Analysis on WRB
W. R. Berkley Price Performance
Shares of W. R. Berkley stock traded down $1.03 during trading hours on Thursday, reaching $72.17. The company's stock had a trading volume of 245,077 shares, compared to its average volume of 1,756,705. The stock has a market cap of $27.38 billion, a P/E ratio of 16.53, a P/E/G ratio of 1.56 and a beta of 0.44. W. R. Berkley Co. has a one year low of $51.17 and a one year high of $76.38. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a 50 day moving average price of $69.17 and a 200-day moving average price of $63.48.
W. R. Berkley (NYSE:WRB - Get Free Report) last released its earnings results on Monday, April 21st. The insurance provider reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.07). W. R. Berkley had a net margin of 12.88% and a return on equity of 20.83%. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.01 billion. On average, analysts predict that W. R. Berkley Co. will post 4.33 EPS for the current year.
W. R. Berkley Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, March 3rd were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, March 3rd. W. R. Berkley's dividend payout ratio (DPR) is 7.42%.
W. R. Berkley Company Profile
(
Free Report)
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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