Truist Financial Corp Sells 203,858 Shares of W.R. Berkley Corporation $WRB

Key Points

• Truist Financial Corp reduced its stake in W.R. Berkley Corporation by 13.4%, selling 203,858 shares, and now holds approximately 1.32 million shares valued at $97.08 million.
• W.R. Berkley reported $1.05 EPS for the last quarter, beating analysts' estimates, and had revenue of $3.10 billion, in line with expectations.
• The company paid a quarterly dividend of $0.09 per share, resulting in an annualized dividend of $0.36, representing a yield of 0.5%.

Truist Financial Corp lessened its stake in W.R. Berkley Corporation (NYSE:WRB - Free Report) by 13.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,321,311 shares of the insurance provider's stock after selling 203,858 shares during the quarter. Truist Financial Corp owned approximately 0.35% of W.R. Berkley worth $97,077,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Spectrum Wealth Counsel LLC purchased a new position in W.R. Berkley during the 1st quarter worth $29,000. Garde Capital Inc. purchased a new position in W.R. Berkley during the 1st quarter worth $30,000. N.E.W. Advisory Services LLC purchased a new position in W.R. Berkley during the 1st quarter worth $36,000. Keystone Global Partners LLC purchased a new position in W.R. Berkley during the 1st quarter worth $41,000. Finally, MAI Capital Management boosted its holdings in W.R. Berkley by 191.1% during the 1st quarter. MAI Capital Management now owns 847 shares of the insurance provider's stock worth $60,000 after acquiring an additional 556 shares during the last quarter. 68.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WRB. UBS Group lifted their price objective on shares of W.R. Berkley from $78.00 to $80.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Cantor Fitzgerald raised shares of W.R. Berkley to a "strong-buy" rating in a report on Wednesday, August 13th. Barclays boosted their price target on shares of W.R. Berkley from $62.00 to $66.00 and gave the stock an "underweight" rating in a report on Monday, July 7th. Wolfe Research assumed coverage on shares of W.R. Berkley in a report on Monday, September 15th. They issued a "peer perform" rating on the stock. Finally, Wells Fargo & Company cut their price target on shares of W.R. Berkley from $71.00 to $68.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $72.54.

W.R. Berkley Trading Down 1.5%

Shares of W.R. Berkley stock opened at $75.44 on Thursday. W.R. Berkley Corporation has a 52-week low of $55.97 and a 52-week high of $76.97. The stock's 50-day simple moving average is $71.87 and its 200 day simple moving average is $70.94. The stock has a market capitalization of $28.61 billion, a P/E ratio of 17.18, a P/E/G ratio of 2.65 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 (NYSE:WRB - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.10 billion. During the same period in the previous year, the business posted $1.04 EPS. As a group, research analysts anticipate that W.R. Berkley Corporation will post 4.33 EPS for the current year.

W.R. Berkley Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, September 22nd. W.R. Berkley's payout ratio is currently 8.20%.

W.R. Berkley Company 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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