Ethic Inc. Boosts Stock Position in W.R. Berkley Corporation $WRB

Key Points

• Ethic Inc. increased its position in W.R. Berkley Corporation by 38.1% in Q2, bringing its total holdings to 45,788 shares valued at $3.31 million.
• W.R. Berkley reported a quarterly EPS of $1.10, exceeding estimates, with a revenue of $3.16 billion, marking a year-over-year growth of 10.8%.
• Institutional investors and hedge funds own 68.82% of W.R. Berkley's stock, reflecting strong institutional interest in the company.

Ethic Inc. grew its holdings in shares of W.R. Berkley Corporation (NYSE:WRB - Free Report) by 38.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,788 shares of the insurance provider's stock after purchasing an additional 12,640 shares during the period. Ethic Inc.'s holdings in W.R. Berkley were worth $3,310,000 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. Hilltop National Bank acquired a new position in W.R. Berkley during the 2nd quarter worth approximately $27,000. Spectrum Wealth Counsel LLC acquired a new position in W.R. Berkley during the 1st quarter worth approximately $29,000. N.E.W. Advisory Services LLC acquired a new stake in shares of W.R. Berkley in the 1st quarter worth approximately $36,000. Keystone Global Partners LLC purchased a new position in W.R. Berkley in the 1st quarter valued at approximately $41,000. Finally, REAP Financial Group LLC raised its holdings in W.R. Berkley by 148.2% during the second quarter. REAP Financial Group LLC now owns 633 shares of the insurance provider's stock worth $46,000 after purchasing an additional 378 shares during the last quarter. Institutional investors and hedge funds own 68.82% of the company's stock.

W.R. Berkley Price Performance

Shares of NYSE:WRB opened at $75.01 on Friday. The business's fifty day moving average price is $74.02 and its two-hundred day moving average price is $72.10. The stock has a market cap of $28.45 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 2.89 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.37. W.R. Berkley Corporation has a one year low of $55.97 and a one year high of $78.48.

W.R. Berkley (NYSE:WRB - Get Free Report) last posted its quarterly earnings data on Monday, October 20th. The insurance provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.03. W.R. Berkley had a return on equity of 19.35% and a net margin of 13.01%.The business had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter last year, the firm earned $0.93 earnings per share. The business's revenue was up 10.8% on a year-over-year basis. On average, analysts forecast that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.

W.R. Berkley Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.09 per share. The ex-dividend date was Monday, September 22nd. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. W.R. Berkley's dividend payout ratio (DPR) is 7.56%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. TD Cowen lowered W.R. Berkley from a "buy" rating to a "hold" rating and set a $78.00 target price on the stock. in a report on Friday, June 27th. Barclays reissued an "underweight" rating and issued a $73.00 target price on shares of W.R. Berkley in a report on Wednesday, October 8th. UBS Group set a $87.00 target price on W.R. Berkley and gave the company a "buy" rating in a report on Wednesday, October 8th. Jefferies Financial Group lowered their target price on W.R. Berkley from $76.00 to $75.00 and set a "hold" rating on the stock in a report on Tuesday. Finally, Wolfe Research began coverage on W.R. Berkley in a report on Monday, September 15th. They set a "peer perform" rating on the stock. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, W.R. Berkley has a consensus rating of "Hold" and an average target price of $74.77.

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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