AlphaQuest LLC Sells 30,531 Shares of W.R. Berkley Corporation $WRB

Key Points

• AlphaQuest LLC has reduced its holdings in W.R. Berkley Corporation by 66.1%, now owning 15,677 shares valued at approximately $1.116 million after selling 30,531 shares in the first quarter.
• W.R. Berkley announced an increase in its quarterly dividend from $0.08 to $0.09, reflecting a dividend yield of 0.5% and indicating confidence in its financial stability.
• According to analysts, W.R. Berkley's average price target is $72.54 with a consensus rating of "Hold," while some firms have upgraded their ratings, highlighting potential growth.

AlphaQuest LLC trimmed its holdings in shares of W.R. Berkley Corporation (NYSE:WRB - Free Report) by 66.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,677 shares of the insurance provider's stock after selling 30,531 shares during the quarter. AlphaQuest LLC's holdings in W.R. Berkley were worth $1,116,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Optiver Holding B.V. grew its position in W.R. Berkley by 107.3% during the fourth quarter. Optiver Holding B.V. now owns 427 shares of the insurance provider's stock valued at $25,000 after buying an additional 221 shares during the period. Spectrum Wealth Counsel LLC bought a new stake in W.R. Berkley during the first quarter valued at approximately $29,000. Garde Capital Inc. bought a new stake in W.R. Berkley during the first quarter valued at approximately $30,000. N.E.W. Advisory Services LLC bought a new stake in W.R. Berkley during the first quarter valued at approximately $36,000. Finally, Mpwm Advisory Solutions LLC bought a new position in shares of W.R. Berkley in the fourth quarter worth approximately $37,000. 68.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WRB has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of W.R. Berkley from $63.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. The Goldman Sachs Group lowered shares of W.R. Berkley from a "strong-buy" rating to a "hold" rating and upped their price target for the stock from $74.00 to $76.00 in a research report on Thursday, May 22nd. UBS Group upped their price target on shares of W.R. Berkley from $78.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wells Fargo & Company dropped their price target on shares of W.R. Berkley from $71.00 to $68.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 22nd. Finally, Cantor Fitzgerald upgraded shares of W.R. Berkley to a "strong-buy" rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $72.54.

W.R. Berkley Price Performance

WRB stock opened at $72.0950 on Friday. W.R. Berkley Corporation has a one year low of $55.80 and a one year high of $76.38. The company's fifty day moving average price is $70.61 and its 200-day moving average price is $68.79. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $27.34 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 2.49 and a beta of 0.39.

W.R. Berkley (NYSE:WRB - Get Free Report) last released its earnings results on Monday, July 21st. The insurance provider reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. W.R. Berkley had a net margin of 12.32% and a return on equity of 18.83%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the firm earned $1.04 earnings per share. On average, equities analysts anticipate that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.

W.R. Berkley Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 23rd were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. This is a boost from W.R. Berkley's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Monday, June 23rd. W.R. Berkley's payout ratio is presently 8.20%.

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.

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