Coho Partners Ltd. decreased its holdings in shares of W.R. Berkley Corporation (NYSE:WRB - Free Report) by 15.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 681,152 shares of the insurance provider's stock after selling 126,626 shares during the quarter. W.R. Berkley comprises approximately 3.7% of Coho Partners Ltd.'s investment portfolio, making the stock its 9th biggest holding. Coho Partners Ltd. owned about 0.18% of W.R. Berkley worth $50,044,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Hilltop National Bank acquired a new stake in W.R. Berkley during the 2nd quarter worth $27,000. Spectrum Wealth Counsel LLC acquired a new stake in W.R. Berkley during the 1st quarter worth $29,000. Garde Capital Inc. acquired a new stake in shares of W.R. Berkley during the first quarter worth $30,000. N.E.W. Advisory Services LLC acquired a new stake in shares of W.R. Berkley during the first quarter worth $36,000. Finally, Keystone Global Partners LLC acquired a new stake in shares of W.R. Berkley during the first quarter worth $41,000. Institutional investors and hedge funds own 68.82% of the company's stock.
W.R. Berkley Price Performance
Shares of WRB opened at $73.64 on Friday. The firm has a market capitalization of $27.93 billion, a PE ratio of 16.77, a P/E/G ratio of 2.63 and a beta of 0.42. W.R. Berkley Corporation has a 52-week low of $55.97 and a 52-week high of $78.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a 50 day simple moving average of $73.55 and a 200 day simple moving average of $71.81.
W.R. Berkley (NYSE:WRB - Get Free Report) last released its quarterly earnings results 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 company had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.10 billion. W.R. Berkley had a net margin of 12.32% and a return on equity of 18.83%. During the same quarter in the prior year, the company earned $1.04 earnings per share. Sell-side analysts predict that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.
W.R. Berkley Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. W.R. Berkley's dividend payout ratio is presently 8.20%.
Wall Street Analysts Forecast Growth
WRB has been the subject of several analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of W.R. Berkley in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their target price on W.R. Berkley from $68.00 to $69.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 8th. Wolfe Research initiated coverage on shares of W.R. Berkley in a report on Monday, September 15th. They set a "peer perform" rating for the company. TD Cowen cut shares of W.R. Berkley from a "buy" rating to a "hold" rating and set a $78.00 price objective for the company. in a report on Friday, June 27th. Finally, Barclays reissued an "underweight" rating and issued a $73.00 price target on shares of W.R. Berkley in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $73.69.
Check Out Our Latest Report on WRB
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.
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