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Deutsche Bank AG Cuts Stock Position in W.R. Berkley Corporation (NYSE:WRB)

W.R. Berkley logo with Finance background

Key Points

  • Deutsche Bank AG has reduced its stake in W.R. Berkley Corporation by 1.4%, now holding 1,081,631 shares valued at approximately $76.97 million.
  • W.R. Berkley recently reported earnings of $1.05 per share for the quarter, exceeding analysts' expectations and maintaining a net margin of 12.32%.
  • The company announced an increase in its quarterly dividend from $0.08 to $0.09, with a current yield of 0.5% and a payout ratio of 8.20%.
  • Looking to export and analyze W.R. Berkley data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Deutsche Bank AG cut its holdings in W.R. Berkley Corporation (NYSE:WRB - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,081,631 shares of the insurance provider's stock after selling 15,152 shares during the quarter. Deutsche Bank AG owned 0.29% of W.R. Berkley worth $76,969,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Spectrum Wealth Counsel LLC purchased a new position in shares of W.R. Berkley in the first quarter valued at $29,000. Garde Capital Inc. bought a new stake in W.R. Berkley in the first quarter worth $30,000. Optiver Holding B.V. lifted its position 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 worth $25,000 after buying an additional 221 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in W.R. Berkley in the first quarter worth $36,000. Finally, Mpwm Advisory Solutions LLC bought a new stake in W.R. Berkley in the fourth quarter worth $37,000. 68.82% of the stock is owned by hedge funds and other institutional investors.

W.R. Berkley Stock Performance

Shares of W.R. Berkley stock opened at $70.66 on Monday. The firm has a market cap of $26.80 billion, a P/E ratio of 16.10, a P/E/G ratio of 2.44 and a beta of 0.39. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. W.R. Berkley Corporation has a 12 month low of $55.80 and a 12 month high of $76.38. The stock's fifty day moving average price is $71.06 and its 200-day moving average price is $68.02.

W.R. Berkley (NYSE:WRB - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The insurance provider reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. W.R. Berkley had a return on equity of 18.83% and a net margin of 12.32%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the firm posted $1.04 earnings per share. On average, equities research analysts expect that W.R. Berkley Corporation will post 4.33 earnings per share 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. Shareholders of record on Monday, June 23rd were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.5%. This is a boost from W.R. Berkley's previous quarterly dividend of $0.08. The ex-dividend date was Monday, June 23rd. W.R. Berkley's payout ratio is presently 8.20%.

Analyst Upgrades and Downgrades

WRB has been the subject of a number of analyst reports. Morgan Stanley raised their price target on 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. Wells Fargo & Company lowered their price target on 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. UBS Group lifted their target price on W.R. Berkley from $78.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. The Goldman Sachs Group downgraded W.R. Berkley from a "strong-buy" rating to a "hold" rating and lifted their target price for the stock from $74.00 to $76.00 in a research report on Thursday, May 22nd. Finally, Keefe, Bruyette & Woods lifted their target price on W.R. Berkley from $65.00 to $75.00 and gave the stock a "market perform" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $71.75.

Check Out Our Latest Stock Report on WRB

W.R. Berkley 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.

See Also

Institutional Ownership by Quarter for W.R. Berkley (NYSE:WRB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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