New Mexico Educational Retirement Board Increases Stock Position in W. R. Berkley Co. (NYSE:WRB)

New Mexico Educational Retirement Board boosted its stake in W. R. Berkley Co. (NYSE:WRBGet Rating) by 41.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,150 shares of the insurance provider’s stock after purchasing an additional 3,550 shares during the quarter. New Mexico Educational Retirement Board’s holdings in W. R. Berkley were worth $809,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WRB. Consolidated Planning Corp purchased a new stake in W. R. Berkley in the 3rd quarter worth $25,000. Covestor Ltd purchased a new stake in W. R. Berkley in the 4th quarter worth $36,000. Quent Capital LLC purchased a new stake in W. R. Berkley in the 4th quarter worth $46,000. CWM LLC purchased a new stake in W. R. Berkley in the 4th quarter worth $64,000. Finally, Spire Wealth Management lifted its stake in W. R. Berkley by 264.3% in the 4th quarter. Spire Wealth Management now owns 1,111 shares of the insurance provider’s stock worth $92,000 after purchasing an additional 806 shares in the last quarter. Institutional investors and hedge funds own 49.90% of the company’s stock.

W. R. Berkley stock opened at $66.93 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market capitalization of $17.75 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 1.90 and a beta of 0.75. The company’s 50-day moving average is $68.44 and its 200 day moving average is $62.64. W. R. Berkley Co. has a 1-year low of $47.13 and a 1-year high of $72.32.

W. R. Berkley (NYSE:WRBGet Rating) last issued its earnings results on Monday, April 25th. The insurance provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.18. The business had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.26 billion. W. R. Berkley had a net margin of 13.55% and a return on equity of 15.77%. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 EPS. Research analysts anticipate that W. R. Berkley Co. will post 3.9 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 7th. Shareholders of record on Monday, June 27th will be paid a $0.10 dividend. This is an increase from W. R. Berkley’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Friday, June 24th. W. R. Berkley’s dividend payout ratio is currently 7.06%.

Several analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of W. R. Berkley from $63.00 to $75.00 in a research report on Friday, April 8th. Morgan Stanley upped their target price on shares of W. R. Berkley from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, May 23rd. Truist Financial upped their target price on shares of W. R. Berkley from $73.33 to $83.00 in a research report on Tuesday, April 26th. StockNews.com upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating in a research report on Thursday, April 28th. Finally, Wells Fargo & Company upped their target price on shares of W. R. Berkley from $65.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.60.

About W. R. Berkley (Get Rating)

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and general and professional liability lines.

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

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