Voya Investment Management LLC Has $6.62 Million Stock Holdings in W.R. Berkley Corporation $WRB

Key Points

• Voya Investment Management LLC reduced its stake in W.R. Berkley Corporation by 29.7% during the first quarter, now holding 92,990 shares valued at approximately $6.6 million.
• W.R. Berkley Corporation reported $1.05 earnings per share for the last quarter, exceeding the consensus estimate of $1.03, and had a net margin of 12.32%.
• The company's recently disclosed quarterly dividend of $0.09 per share will be paid on September 30th, representing an annualized yield of 0.5%.

Voya Investment Management LLC decreased its holdings in W.R. Berkley Corporation (NYSE:WRB - Free Report) by 29.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 92,990 shares of the insurance provider's stock after selling 39,228 shares during the quarter. Voya Investment Management LLC's holdings in W.R. Berkley were worth $6,617,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Spectrum Wealth Counsel LLC bought a new stake in shares of W.R. Berkley during the first quarter worth $29,000. Garde Capital Inc. bought a new stake in shares of W.R. Berkley during the first quarter worth $30,000. N.E.W. Advisory Services LLC bought a new stake in shares of W.R. Berkley during the first quarter worth $36,000. Mpwm Advisory Solutions LLC bought a new stake in shares of W.R. Berkley during the fourth quarter worth $37,000. Finally, Keystone Global Partners LLC bought a new stake in shares of W.R. Berkley during the first quarter worth $41,000. Institutional investors own 68.82% of the company's stock.

W.R. Berkley Trading Up 0.5%

NYSE:WRB traded up $0.33 on Friday, reaching $73.43. The company's stock had a trading volume of 3,377,319 shares, compared to its average volume of 1,556,391. W.R. Berkley Corporation has a 1-year low of $55.80 and a 1-year high of $76.38. 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 firm has a market cap of $27.85 billion, a PE ratio of 16.73, a PEG ratio of 2.53 and a beta of 0.41. The business's 50-day moving average price is $70.79 and its two-hundred day moving average price is $70.24.

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, topping 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 return on equity of 18.83% and a net margin of 12.32%.During the same period in the prior year, the firm earned $1.04 earnings per share. Equities research analysts anticipate that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, September 22nd. W.R. Berkley's dividend payout ratio is currently 8.20%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. TD Cowen downgraded W.R. Berkley from a "buy" rating to a "hold" rating and set a $78.00 target price for the company. in a research report on Friday, June 27th. Wolfe Research assumed coverage on W.R. Berkley in a research report on Monday. They set a "peer perform" rating for the company. Barclays boosted their target price on W.R. Berkley from $62.00 to $66.00 and gave the stock an "underweight" rating in a research report on Monday, July 7th. UBS Group lifted their price objective 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. Finally, Cantor Fitzgerald raised W.R. Berkley to a "strong-buy" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $72.54.

W.R. Berkley Company Profile

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.