W.R. Berkley Corporation $WRB Shares Sold by Alamar Capital Management LLC

Key Points

• Alamar Capital Management cut its W.R. Berkley stake by 50% in the second quarter, selling 15,275 shares and retaining 15,300 shares valued at approximately $1.09 million. Institutional investors and hedge funds own 68.82% of the company.
• Analysts remain cautious, with W.R. Berkley carrying an average rating of “Reduce” and an average price target of $70.94. Ratings range from “Buy” to “Sell,” while Truist raised its target to $83.
• W.R. Berkley reported stronger-than-expected quarterly results, earning $1.27 per share versus the $1.08 consensus estimate and generating $3.72 billion in revenue, up 2.4% year over year.

Alamar Capital Management LLC cut its holdings in shares of W.R. Berkley Corporation (NYSE:WRB - Free Report) by 50.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,300 shares of the insurance provider's stock after selling 15,275 shares during the quarter. Alamar Capital Management LLC's holdings in W.R. Berkley were worth $1,089,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in WRB. Entrust Financial LLC purchased a new stake in W.R. Berkley in the 4th quarter valued at about $25,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of W.R. Berkley by 140.0% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider's stock worth $26,000 after acquiring an additional 210 shares during the period. Allied Private Wealth LLC purchased a new position in shares of W.R. Berkley during the 2nd quarter worth about $29,000. DV Equities LLC acquired a new stake in shares of W.R. Berkley in the fourth quarter worth approximately $29,000. Finally, Triumph Capital Management purchased a new stake in W.R. Berkley in the third quarter valued at approximately $35,000. 68.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $74.00 price target (up from $70.00) on shares of W.R. Berkley in a research report on Thursday, July 9th. Wells Fargo & Company reissued an "underweight" rating and set a $68.00 price objective (up from $67.00) on shares of W.R. Berkley in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods reaffirmed a "market perform" rating on shares of W.R. Berkley in a research report on Tuesday, July 21st. Oppenheimer set a $70.00 target price on W.R. Berkley in a report on Tuesday, July 21st. Finally, Truist Financial boosted their price target on W.R. Berkley from $78.00 to $83.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, W.R. Berkley presently has an average rating of "Reduce" and an average target price of $70.94.

W.R. Berkley Price Performance

WRB opened at $68.15 on Thursday. W.R. Berkley Corporation has a 52-week low of $62.87 and a 52-week high of $78.96. The company has a 50 day moving average of $71.15 and a two-hundred day moving average of $68.80. The company has a market cap of $25.30 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.68 and a beta of 0.28. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.29.

W.R. Berkley (NYSE:WRB - Get Free Report) last issued its earnings results on Monday, July 20th. The insurance provider reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.19. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.28 billion. W.R. Berkley had a net margin of 12.94% and a return on equity of 19.44%. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 EPS. On average, analysts expect that W.R. Berkley Corporation will post 4.87 earnings per share for the current year.

W.R. Berkley Company Profile

W. R. Berkley Corporation NYSE: WRB is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company's product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.

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