Generali Asset Management SPA SGR Buys New Holdings in W.R. Berkley Corporation $WRB

Key Points

• Generali Asset Management SPA SGR opened a new position in W.R. Berkley in the fourth quarter, buying 23,245 shares valued at about $1.63 million.
• Several other institutional investors also increased their stakes, and 68.82% of W.R. Berkley’s stock is now held by institutions and hedge funds.
• W.R. Berkley reported better-than-expected quarterly results, with EPS of $1.30 versus the $1.13 estimate and revenue of $3.69 billion versus $3.18 billion expected, while analysts currently hold a Reduce consensus rating on the stock.

Generali Asset Management SPA SGR bought a new stake in W.R. Berkley Corporation (NYSE:WRB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,245 shares of the insurance provider's stock, valued at approximately $1,630,000.

A number of other large investors have also modified their holdings of the company. Johnson Financial Group Inc. raised its stake in shares of W.R. Berkley by 22.3% in the third quarter. Johnson Financial Group Inc. now owns 756 shares of the insurance provider's stock valued at $58,000 after purchasing an additional 138 shares in the last quarter. Maridea Wealth Management LLC raised its stake in shares of W.R. Berkley by 2.0% in the third quarter. Maridea Wealth Management LLC now owns 7,180 shares of the insurance provider's stock valued at $528,000 after purchasing an additional 141 shares in the last quarter. Physician Wealth Advisors Inc. raised its stake in shares of W.R. Berkley by 40.2% in the third quarter. Physician Wealth Advisors Inc. now owns 523 shares of the insurance provider's stock valued at $40,000 after purchasing an additional 150 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of W.R. Berkley by 3.3% in the third quarter. Valeo Financial Advisors LLC now owns 4,788 shares of the insurance provider's stock valued at $367,000 after purchasing an additional 151 shares in the last quarter. Finally, Allworth Financial LP raised its stake in shares of W.R. Berkley by 4.8% in the third quarter. Allworth Financial LP now owns 3,328 shares of the insurance provider's stock valued at $255,000 after purchasing an additional 153 shares in the last quarter. 68.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on WRB shares. Weiss Ratings upgraded W.R. Berkley from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. Wall Street Zen upgraded W.R. Berkley from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Mizuho lowered their price target on W.R. Berkley from $69.00 to $67.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 27th. Bank of America lowered their price target on W.R. Berkley from $68.00 to $67.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. Finally, Barclays upped their price target on W.R. Berkley from $62.00 to $64.00 and gave the company an "underweight" rating in a research report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $68.81.

Insider Activity at W.R. Berkley

In other W.R. Berkley news, major shareholder Sumitomo Insurance Co L. Mitsui bought 112,176 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The shares were bought at an average price of $72.20 per share, for a total transaction of $8,099,107.20. Following the completion of the acquisition, the insider owned 58,780,450 shares of the company's stock, valued at approximately $4,243,948,490. This trade represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders acquired a total of 2,261,794 shares of company stock worth $161,022,960 in the last quarter. 23.00% of the stock is currently owned by corporate insiders.

W.R. Berkley Price Performance

Shares of WRB stock opened at $65.68 on Monday. The stock's fifty day moving average is $67.37 and its 200-day moving average is $70.00. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $24.45 billion, a PE ratio of 13.91, a PEG ratio of 3.12 and a beta of 0.33. W.R. Berkley Corporation has a 52 week low of $63.67 and a 52 week high of $78.96.

W.R. Berkley (NYSE:WRB - Get Free Report) last announced its earnings results on Tuesday, April 21st. The insurance provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.13 by $0.17. The company had revenue of $3.69 billion for the quarter, compared to analysts' expectations of $3.18 billion. W.R. Berkley had a return on equity of 18.92% and a net margin of 12.64%.The business's revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. Equities research analysts expect that W.R. Berkley Corporation will post 4.64 EPS for the current fiscal year.

W.R. Berkley Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, February 23rd. W.R. Berkley's dividend payout ratio is presently 7.63%.

W.R. Berkley Company Profile

W. R. Berkley Corporation NYSE: WRB is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company's product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.

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