Confluence Investment Management LLC lessened its stake in W. R. Berkley Co. (NYSE:WRB - Free Report) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,302,855 shares of the insurance provider's stock after selling 33,571 shares during the period. W. R. Berkley accounts for approximately 1.3% of Confluence Investment Management LLC's investment portfolio, making the stock its 27th largest holding. Confluence Investment Management LLC owned about 0.34% of W. R. Berkley worth $92,711,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Optiver Holding B.V. grew its stake in W. R. Berkley by 107.3% in the fourth quarter. Optiver Holding B.V. now owns 427 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 221 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in W. R. Berkley in the fourth quarter worth about $35,000. Mpwm Advisory Solutions LLC acquired a new stake in W. R. Berkley in the fourth quarter worth about $37,000. Catalyst Capital Advisors LLC acquired a new stake in W. R. Berkley in the fourth quarter worth about $42,000. Finally, Colonial Trust Co SC boosted its holdings in W. R. Berkley by 79.9% in the fourth quarter. Colonial Trust Co SC now owns 822 shares of the insurance provider's stock worth $48,000 after acquiring an additional 365 shares in the last quarter. Hedge funds and other institutional investors own 68.82% of the company's stock.
W. R. Berkley Stock Performance
WRB traded down $0.25 on Monday, reaching $74.45. The stock had a trading volume of 404,578 shares, compared to its average volume of 1,762,559. W. R. Berkley Co. has a 12-month low of $51.17 and a 12-month high of $76.38. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.34. The business's 50-day moving average price is $70.53 and its two-hundred day moving average price is $64.21. The company has a market cap of $28.24 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 1.56 and a beta of 0.44.
W. R. Berkley (NYSE:WRB - Get Free Report) last announced 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). The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3.01 billion. W. R. Berkley had a return on equity of 20.83% and a net margin of 12.88%. Sell-side analysts forecast that W. R. Berkley Co. will post 4.33 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on WRB shares. Barclays lifted their price objective on shares of W. R. Berkley from $52.00 to $62.00 and gave the stock an "underweight" rating in a research note on Friday, April 11th. Morgan Stanley lifted their price objective on shares of W. R. Berkley from $63.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Truist Financial lifted their target price on W. R. Berkley from $68.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, April 3rd. Wells Fargo & Company lifted their target price on W. R. Berkley from $69.00 to $70.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. Finally, UBS Group lifted their target price on W. R. Berkley from $73.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, W. R. Berkley currently has an average rating of "Hold" and a consensus price target of $70.64.
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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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