W. R. Berkley Co. (NYSE:WRB) Position Increased by New York Life Investment Management LLC

New York Life Investment Management LLC lifted its stake in W. R. Berkley Co. (NYSE:WRBFree Report) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,101 shares of the insurance provider’s stock after acquiring an additional 553 shares during the period. New York Life Investment Management LLC’s holdings in W. R. Berkley were worth $1,848,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Mitchell & Pahl Private Wealth LLC lifted its position in W. R. Berkley by 1.2% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 13,245 shares of the insurance provider’s stock worth $789,000 after purchasing an additional 159 shares during the period. First Manhattan Co. lifted its position in W. R. Berkley by 50.0% in the first quarter. First Manhattan Co. now owns 486 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 162 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its position 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 worth $473,000 after purchasing an additional 162 shares during the period. Carmel Capital Partners LLC lifted its position in W. R. Berkley by 4.3% in the third quarter. Carmel Capital Partners LLC now owns 4,304 shares of the insurance provider’s stock worth $273,000 after purchasing an additional 179 shares during the period. Finally, Clear Street Markets LLC lifted its position in W. R. Berkley by 92.3% in the first quarter. Clear Street Markets LLC now owns 398 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 191 shares during the period. Institutional investors and hedge funds own 66.34% of the company’s stock.

W. R. Berkley Stock Performance

Shares of NYSE:WRB opened at $80.46 on Wednesday. W. R. Berkley Co. has a 1-year low of $55.50 and a 1-year high of $85.01. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average price of $73.78 and a two-hundred day moving average price of $67.78. The stock has a market capitalization of $20.75 billion, a P/E ratio of 15.90, a P/E/G ratio of 1.51 and a beta of 0.58.

W. R. Berkley (NYSE:WRBGet Free Report) last released its quarterly earnings results on Wednesday, January 24th. The insurance provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.10. The firm 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 19.40% and a net margin of 11.38%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 EPS. Equities analysts predict that W. R. Berkley Co. will post 5.94 earnings per share for the current year.

W. R. Berkley Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Monday, December 18th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Friday, December 15th. W. R. Berkley’s dividend payout ratio (DPR) is presently 8.70%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WRB. BMO Capital Markets raised their target price on W. R. Berkley from $71.00 to $81.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Truist Financial lifted their price objective on W. R. Berkley from $83.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Keefe, Bruyette & Woods lifted their price objective on W. R. Berkley from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. UBS Group lifted their price objective on W. R. Berkley from $81.00 to $93.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Finally, Royal Bank of Canada lifted 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. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, W. R. Berkley currently has a consensus rating of “Moderate Buy” and an average target price of $83.56.

Read Our Latest Report on W. R. Berkley

W. R. Berkley Profile

(Free Report)

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.

Further Reading

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

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