United Services Automobile Association Invests $488,000 in W.R. Berkley Corporation $WRB

Key Points

• The United Services Automobile Association has invested approximately $488,000 in W.R. Berkley Corporation by acquiring 6,845 shares in the first quarter of 2023.
• W.R. Berkley reported $1.05 earnings per share for its most recent quarter, surpassing expectations, and had a revenue of $3.10 billion.
• Analyst ratings for W.R. Berkley show a mix of sentiment, with one Strong Buy, two Buy, nine Hold, and one Sell ratings, along with an average target price of $72.54.

United Services Automobile Association acquired a new position in shares of W.R. Berkley Corporation (NYSE:WRB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,845 shares of the insurance provider's stock, valued at approximately $488,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WRB. Spectrum Wealth Counsel LLC acquired a new position in shares of W.R. Berkley during the first quarter worth about $29,000. Garde Capital Inc. acquired a new position in shares of W.R. Berkley during the first quarter worth about $30,000. N.E.W. Advisory Services LLC acquired a new position in shares of W.R. Berkley during the first quarter worth about $36,000. Mpwm Advisory Solutions LLC purchased a new stake in W.R. Berkley during the fourth quarter worth approximately $37,000. Finally, Keystone Global Partners LLC purchased a new stake in W.R. Berkley during the first quarter worth approximately $41,000. 68.82% of the stock is owned by institutional investors and hedge funds.

W.R. Berkley Price Performance

WRB stock opened at $72.15 on Thursday. The company has a market capitalization of $27.36 billion, a P/E ratio of 16.43, a PEG ratio of 2.50 and a beta of 0.41. W.R. Berkley Corporation has a twelve month low of $55.80 and a twelve month high of $76.38. The business has a 50 day simple moving average of $70.39 and a 200-day simple moving average of $69.73. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31.

W.R. Berkley (NYSE:WRB - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The insurance provider reported $1.05 earnings per share 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 return on equity of 18.83% and a net margin of 12.32%.During the same period in the prior year, the company earned $1.04 earnings per share. As a group, equities analysts anticipate that W.R. Berkley Corporation will post 4.33 EPS for the current year.

Wall Street Analysts Forecast Growth

WRB has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on W.R. Berkley from $71.00 to $68.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 22nd. UBS Group boosted their target price on W.R. Berkley from $78.00 to $80.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Keefe, Bruyette & Woods boosted their target price on W.R. Berkley from $65.00 to $75.00 and gave the stock a "market perform" rating in a research note on Monday, May 19th. Morgan Stanley boosted their target price on W.R. Berkley from $63.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, The Goldman Sachs Group cut W.R. Berkley from a "strong-buy" rating to a "hold" rating and boosted their target price for the stock from $74.00 to $76.00 in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, W.R. Berkley presently has an average rating of "Hold" and an average target price of $72.54.

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.

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