Vontobel Holding Ltd. raised its holdings in W.R. Berkley Corporation (NYSE:WRB - Free Report) by 185.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,908 shares of the insurance provider's stock after buying an additional 9,677 shares during the quarter. Vontobel Holding Ltd.'s holdings in W.R. Berkley were worth $1,061,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of W.R. Berkley during the fourth quarter valued at approximately $272,582,000. Madison Investment Advisors LLC bought a new stake in shares of W.R. Berkley during the fourth quarter valued at approximately $98,446,000. Bank of America Corp DE increased its holdings in shares of W.R. Berkley by 121.1% during the fourth quarter. Bank of America Corp DE now owns 2,949,573 shares of the insurance provider's stock valued at $172,609,000 after acquiring an additional 1,615,565 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of W.R. Berkley during the fourth quarter valued at approximately $89,691,000. Finally, GAMMA Investing LLC increased its holdings in shares of W.R. Berkley by 8,709.4% during the first quarter. GAMMA Investing LLC now owns 671,893 shares of the insurance provider's stock valued at $47,812,000 after acquiring an additional 664,266 shares in the last quarter. 68.82% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
WRB has been the subject of several recent research reports. Wells Fargo & Company upped their price target on W.R. Berkley from $69.00 to $70.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 22nd. UBS Group upped their price target on W.R. Berkley from $73.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Keefe, Bruyette & Woods upped their price objective on W.R. Berkley from $65.00 to $75.00 and gave the company a "market perform" rating in a research note on Monday, May 19th. The Goldman Sachs Group downgraded W.R. Berkley from a "strong-buy" rating to a "hold" rating and upped their price objective for the company from $74.00 to $76.00 in a research note on Thursday, May 22nd. Finally, Truist Financial upped their price objective on W.R. Berkley from $68.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, April 3rd. One equities 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. Based on data from MarketBeat, W.R. Berkley has a consensus rating of "Hold" and a consensus price target of $71.42.
Check Out Our Latest Analysis on WRB
W.R. Berkley Stock Performance
Shares of NYSE WRB opened at $71.49 on Friday. The stock has a market cap of $27.12 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 2.47 and a beta of 0.41. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.32. W.R. Berkley Corporation has a 1-year low of $51.41 and a 1-year high of $76.38. The stock's 50-day moving average is $72.82 and its 200 day moving average is $66.10.
W.R. Berkley (NYSE:WRB - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The insurance provider reported $1.01 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.07). The firm had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $3.01 billion. W.R. Berkley had a net margin of 12.43% and a return on equity of 19.66%. On average, sell-side analysts anticipate that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.
W.R. Berkley Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 23rd were paid a $0.09 dividend. This is a boost from W.R. Berkley's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, June 23rd. W.R. Berkley's payout ratio is 8.35%.
W.R. Berkley Company Profile
(
Free Report)
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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