Envestnet Portfolio Solutions Inc. cut its holdings in W.R. Berkley Corporation (NYSE:WRB - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,472 shares of the insurance provider's stock after selling 4,987 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in W.R. Berkley were worth $1,528,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of WRB. Amundi lifted its stake in W.R. Berkley by 43.1% during the 4th quarter. Amundi now owns 1,477,932 shares of the insurance provider's stock valued at $85,853,000 after acquiring an additional 444,986 shares in the last quarter. HighPoint Advisor Group LLC grew its position in W.R. Berkley by 12.0% in the 4th quarter. HighPoint Advisor Group LLC now owns 4,967 shares of the insurance provider's stock worth $304,000 after purchasing an additional 532 shares in the last quarter. Brighton Jones LLC increased its stake in W.R. Berkley by 75.6% in the 4th quarter. Brighton Jones LLC now owns 50,503 shares of the insurance provider's stock valued at $2,955,000 after buying an additional 21,737 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in shares of W.R. Berkley during the 4th quarter worth approximately $5,676,000. Finally, Trexquant Investment LP bought a new position in shares of W.R. Berkley in the fourth quarter valued at approximately $5,787,000. 68.82% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
WRB has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on shares of W.R. Berkley from $69.00 to $70.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. Truist Financial raised their price objective on shares of W.R. Berkley from $68.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, April 3rd. Jefferies Financial Group raised their price target on W.R. Berkley from $57.00 to $66.00 and gave the company a "hold" rating in a report on Friday, April 11th. Morgan Stanley raised their price target on W.R. Berkley from $63.00 to $75.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, UBS Group increased their price target on shares of W.R. Berkley from $73.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $70.64.
Read Our Latest Analysis on W.R. Berkley
W.R. Berkley Trading Down 0.9%
NYSE:WRB traded down $0.69 during trading hours on Tuesday, hitting $73.23. The company had a trading volume of 976,042 shares, compared to its average volume of 1,765,754. W.R. Berkley Corporation has a 52 week low of $51.41 and a 52 week high of $76.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a 50-day moving average price of $72.35 and a 200 day moving average price of $65.39. The company has a market capitalization of $27.78 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 2.53 and a beta of 0.43.
W.R. Berkley (NYSE:WRB - Get Free Report) last posted its earnings results on Monday, April 21st. The insurance provider reported $1.01 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.07). W.R. Berkley had a return on equity of 19.66% and a net margin of 12.43%. The firm had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $3.01 billion. On average, equities research analysts predict that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.
W.R. Berkley Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 23rd will be given a $0.09 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This is an increase from W.R. Berkley's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.49%. W.R. Berkley's dividend payout ratio is currently 7.42%.
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.
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