Allspring Global Investments Holdings LLC Sells 71,974 Shares of W. R. Berkley Co. (NYSE:WRB)

Allspring Global Investments Holdings LLC cut its position in W. R. Berkley Co. (NYSE:WRB - Free Report) by 15.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 386,750 shares of the insurance provider's stock after selling 71,974 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.15% of W. R. Berkley worth $27,351,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of WRB. Ballentine Partners LLC grew its holdings in W. R. Berkley by 1.6% in the fourth quarter. Ballentine Partners LLC now owns 9,180 shares of the insurance provider's stock valued at $649,000 after purchasing an additional 147 shares during the period. Bleakley Financial Group LLC grew its holdings in W. R. Berkley by 0.9% in the fourth quarter. Bleakley Financial Group LLC now owns 17,244 shares of the insurance provider's stock valued at $1,220,000 after purchasing an additional 148 shares during the period. Claro Advisors LLC grew its holdings in W. R. Berkley by 1.6% in the fourth quarter. Claro Advisors LLC now owns 9,832 shares of the insurance provider's stock valued at $695,000 after purchasing an additional 156 shares during the period. First Manhattan Co. grew its holdings in W. R. Berkley by 50.0% in the first quarter. First Manhattan Co. now owns 486 shares of the insurance provider's stock valued at $32,000 after purchasing an additional 162 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its holdings in W. R. Berkley by 2.3% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,320 shares of the insurance provider's stock valued at $473,000 after purchasing an additional 162 shares during the period. 68.82% of the stock is owned by institutional investors and hedge funds.

W. R. Berkley Trading Down 0.0 %

Shares of NYSE WRB traded down $0.04 during trading on Friday, reaching $82.15. The stock had a trading volume of 1,042,422 shares, compared to its average volume of 1,150,431. W. R. Berkley Co. has a fifty-two week low of $55.50 and a fifty-two week high of $89.18. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.37 and a current ratio of 0.37. The business's 50-day moving average price is $84.42 and its 200-day moving average price is $75.24. The company has a market cap of $21.08 billion, a P/E ratio of 16.24, a PEG ratio of 1.53 and a beta of 0.57.

W. R. Berkley (NYSE:WRB - Get Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The insurance provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.10. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $2.70 billion. W. R. Berkley had a return on equity of 19.03% and a net margin of 11.38%. W. R. Berkley's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 EPS. On average, equities research analysts predict that W. R. Berkley Co. will post 5.98 EPS for the current fiscal year.

W. R. Berkley Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, March 4th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Friday, March 1st. W. R. Berkley's dividend payout ratio (DPR) is 8.70%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WRB. Royal Bank of Canada raised their price objective on W. R. Berkley from $73.00 to $79.00 and gave the company a "sector perform" rating in a report on Thursday, January 25th. UBS Group raised their target price on W. R. Berkley from $81.00 to $93.00 and gave the company a "buy" rating in a research report on Tuesday, January 30th. Keefe, Bruyette & Woods raised their target price on W. R. Berkley from $85.00 to $88.00 and gave the company a "market perform" rating in a research report on Wednesday. Truist Financial raised their target price on W. R. Berkley from $83.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, January 25th. Finally, The Goldman Sachs Group raised their target price on W. R. Berkley from $86.00 to $95.00 and gave the company a "buy" rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $89.22.

About W. R. Berkley

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.