W. R. Berkley Co. (NYSE:WRB) Stock Holdings Cut by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL reduced its stake in shares of W. R. Berkley Co. (NYSE:WRBFree Report) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,634 shares of the insurance provider’s stock after selling 1,700 shares during the period. Gamco Investors INC. ET AL’s holdings in W. R. Berkley were worth $3,850,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its stake in shares of W. R. Berkley by 4.0% in the third quarter. Janney Montgomery Scott LLC now owns 166,240 shares of the insurance provider’s stock worth $10,555,000 after purchasing an additional 6,371 shares during the period. Argent Trust Co increased its stake in shares of W. R. Berkley by 3.4% in the third quarter. Argent Trust Co now owns 5,779 shares of the insurance provider’s stock worth $367,000 after purchasing an additional 188 shares during the period. NewEdge Wealth LLC increased its stake in shares of W. R. Berkley by 9.3% in the third quarter. NewEdge Wealth LLC now owns 49,149 shares of the insurance provider’s stock worth $3,120,000 after purchasing an additional 4,197 shares during the period. Cumberland Partners Ltd bought a new position in shares of W. R. Berkley in the third quarter worth about $1,079,000. Finally, New York Life Investment Management LLC grew its position in W. R. Berkley by 1.9% during the third quarter. New York Life Investment Management LLC now owns 29,101 shares of the insurance provider’s stock worth $1,848,000 after buying an additional 553 shares in the last quarter. 66.34% of the stock is currently owned by institutional investors.

W. R. Berkley Stock Performance

NYSE:WRB opened at $79.88 on Friday. W. R. Berkley Co. has a 1 year low of $55.50 and a 1 year high of $85.01. The firm has a 50 day moving average of $74.16 and a 200-day moving average of $68.00. 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 stock has a market capitalization of $20.60 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58.

W. R. Berkley (NYSE:WRBGet Free Report) last posted its earnings results on Wednesday, January 24th. The insurance provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. W. R. Berkley had a net margin of 11.38% and a return on equity of 19.40%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. W. R. Berkley’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that W. R. Berkley Co. will post 5.94 EPS for the current fiscal year.

W. R. Berkley Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Evercore ISI reissued an “in-line” rating and set a $79.00 target price (up from $69.00) on shares of W. R. Berkley in a research report on Tuesday, January 9th. Royal Bank of Canada lifted their target price on W. R. Berkley from $73.00 to $79.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods lifted their target price on W. R. Berkley from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Truist Financial lifted their target price on W. R. Berkley from $83.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.56.

Get Our Latest Stock Report on WRB

About W. R. Berkley

(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.

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

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