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Bayforest Capital Ltd Buys 17,380 Shares of W.R. Berkley Corporation (NYSE:WRB)

W.R. Berkley logo with Finance background

Bayforest Capital Ltd lifted its stake in shares of W.R. Berkley Corporation (NYSE:WRB - Free Report) by 2,129.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,196 shares of the insurance provider's stock after acquiring an additional 17,380 shares during the period. W.R. Berkley accounts for approximately 0.6% of Bayforest Capital Ltd's portfolio, making the stock its 10th biggest holding. Bayforest Capital Ltd's holdings in W.R. Berkley were worth $1,295,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new position in W.R. Berkley during the first quarter worth about $36,000. Meeder Advisory Services Inc. lifted its holdings in shares of W.R. Berkley by 11.1% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,007 shares of the insurance provider's stock worth $285,000 after acquiring an additional 401 shares during the period. Indie Asset Partners LLC purchased a new stake in W.R. Berkley in the first quarter valued at approximately $233,000. Picton Mahoney Asset Management purchased a new position in W.R. Berkley during the first quarter worth approximately $1,246,000. Finally, Foundations Investment Advisors LLC boosted its holdings in shares of W.R. Berkley by 164.1% in the 1st quarter. Foundations Investment Advisors LLC now owns 11,399 shares of the insurance provider's stock valued at $811,000 after purchasing an additional 7,083 shares during the last quarter. Hedge funds and other institutional investors own 68.82% of the company's stock.

W.R. Berkley Stock Performance

WRB traded up $0.43 on Friday, hitting $69.24. The company had a trading volume of 2,236,973 shares, compared to its average volume of 1,943,626. The stock has a market cap of $26.27 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 2.38 and a beta of 0.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.36 and a quick ratio of 0.36. The company's fifty day moving average price is $71.48 and its 200 day moving average price is $67.44. W.R. Berkley Corporation has a 1-year low of $53.65 and a 1-year high of $76.38.

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, topping the consensus estimate of $1.03 by $0.02. The business had revenue of $3.10 billion for 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 last year, the company posted $1.04 earnings per share. Equities analysts predict that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WRB. Jefferies Financial Group upped their target price on W.R. Berkley from $57.00 to $66.00 and gave the stock a "hold" rating in a research report on Friday, April 11th. TD Cowen cut shares of W.R. Berkley from a "buy" rating to a "hold" rating and set a $78.00 target price on the stock. in a research report on Friday, June 27th. Morgan Stanley raised their price target on shares of W.R. Berkley from $63.00 to $75.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Wall Street Zen cut shares of W.R. Berkley from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, UBS Group lifted their target price on W.R. Berkley from $78.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $71.75.

View Our Latest Report on W.R. Berkley

About W.R. Berkley

(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.

Further Reading

Institutional Ownership by Quarter for W.R. Berkley (NYSE:WRB)

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