TD Asset Management Inc Has $42.45 Million Holdings in W.R. Berkley Corporation (NYSE:WRB)

Key Points

• TD Asset Management Inc decreased its stake in W.R. Berkley Corporation by 2.5%, holding 596,568 shares worth approximately $42.45 million after selling 15,440 shares in the first quarter.
• W.R. Berkley declared a quarterly dividend of $0.09, reflecting an increase from the previous $0.08, with a current annualized dividend of $0.36 and a yield of 0.53%.
• Analysts have mixed views on W.R. Berkley, with Goldman Sachs downgrading it from "strong-buy" to "hold," while several firms adjusted their price targets, leading to an average target of $71.75.

TD Asset Management Inc lowered its stake in W.R. Berkley Corporation (NYSE:WRB - Free Report) by 2.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 596,568 shares of the insurance provider's stock after selling 15,440 shares during the period. TD Asset Management Inc owned 0.16% of W.R. Berkley worth $42,452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Optiver Holding B.V. grew its position in shares of W.R. Berkley by 107.3% during the 4th quarter. Optiver Holding B.V. now owns 427 shares of the insurance provider's stock valued at $25,000 after buying an additional 221 shares during the last quarter. Garde Capital Inc. acquired a new stake in shares of W.R. Berkley in the 1st quarter worth approximately $30,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of W.R. Berkley in the 4th quarter worth approximately $37,000. Colonial Trust Co SC lifted its stake in shares of W.R. Berkley by 79.9% in the 4th quarter. Colonial Trust Co SC now owns 822 shares of the insurance provider's stock worth $48,000 after acquiring an additional 365 shares during the period. Finally, Adalta Capital Management LLC acquired a new stake in shares of W.R. Berkley in the 4th quarter worth approximately $61,000. Institutional investors own 68.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WRB. Barclays upped their price target on shares of W.R. Berkley from $62.00 to $66.00 and gave the stock an "underweight" rating in a research note on Monday, July 7th. UBS Group upped their price target on shares of W.R. Berkley from $78.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Jefferies Financial Group upped their price target on shares of W.R. Berkley from $57.00 to $66.00 and gave the stock a "hold" rating in a research note on Friday, April 11th. Truist Financial upped their price target on shares of W.R. Berkley from $68.00 to $80.00 and gave the stock a "buy" rating in a research note on Thursday, April 3rd. Finally, TD Cowen lowered shares of W.R. Berkley from a "buy" rating to a "hold" rating and set a $78.00 price target for the company. in a research note on Friday, June 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, W.R. Berkley presently has a consensus rating of "Hold" and a consensus price target of $71.75.

W.R. Berkley Trading Up 0.4%

Shares of NYSE:WRB traded up $0.30 during mid-day trading on Friday, hitting $69.11. The stock had a trading volume of 1,060,816 shares, compared to its average volume of 1,935,135. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $26.22 billion, a PE ratio of 15.75, a P/E/G ratio of 2.38 and a beta of 0.41. W.R. Berkley Corporation has a 12-month low of $53.65 and a 12-month high of $76.38. The company's 50 day moving average is $71.48 and its 200-day moving average is $67.44.

W.R. Berkley (NYSE:WRB - Get Free Report) last issued 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. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.10 billion. W.R. Berkley had a net margin of 12.32% and a return on equity of 19.22%. During the same quarter in the prior year, the firm earned $1.04 EPS. On average, sell-side analysts predict that W.R. Berkley Corporation will post 4.33 EPS for the current year.

W.R. Berkley Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 23rd were given a $0.09 dividend. This is a boost from W.R. Berkley's previous quarterly dividend of $0.08. The ex-dividend date was Monday, June 23rd. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. W.R. Berkley's payout ratio is currently 8.20%.

About W.R. Berkley

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.