State of New Jersey Common Pension Fund D Trims Stock Holdings in W. R. Berkley Co. (NYSE:WRB)

State of New Jersey Common Pension Fund D reduced its holdings in shares of W. R. Berkley Co. (NYSE:WRBFree Report) by 8.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 106,886 shares of the insurance provider’s stock after selling 10,263 shares during the period. State of New Jersey Common Pension Fund D’s holdings in W. R. Berkley were worth $6,786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clear Street Markets LLC lifted its stake in shares of W. R. Berkley by 92.3% during the 1st quarter. Clear Street Markets LLC now owns 398 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 191 shares during the last quarter. Resurgent Financial Advisors LLC bought a new stake in W. R. Berkley during the 4th quarter valued at $32,000. First Manhattan Co. raised its position in W. R. Berkley by 50.0% during the 1st quarter. First Manhattan Co. now owns 486 shares of the insurance provider’s stock valued at $32,000 after purchasing an additional 162 shares in the last quarter. Farther Finance Advisors LLC raised its position in W. R. Berkley by 232.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 496 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 347 shares in the last quarter. Finally, Atlas Capital Advisors LLC bought a new stake in W. R. Berkley during the 2nd quarter valued at $49,000. 66.34% of the stock is owned by institutional investors.

W. R. Berkley Stock Up 0.3 %

Shares of WRB stock opened at $80.71 on Tuesday. W. R. Berkley Co. has a 1-year low of $55.50 and a 1-year high of $85.01. The stock’s fifty day moving average price is $74.59 and its 200 day moving average price is $68.44. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.39 and a quick ratio of 0.39. The company has a market cap of $20.81 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 1.50 and a beta of 0.58.

W. R. Berkley (NYSE:WRBGet Free Report) last announced its earnings results on Wednesday, January 24th. The insurance provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.10. W. R. Berkley had a return on equity of 19.40% and a net margin of 11.38%. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the previous year, the business earned $1.16 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, research analysts expect that W. R. Berkley Co. will post 5.94 earnings per share for the current fiscal year.

W. R. Berkley Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WRB shares. Evercore ISI reaffirmed 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. BMO Capital Markets lifted their target price on W. R. Berkley from $71.00 to $81.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Wells Fargo & Company lifted their price target on W. R. Berkley from $84.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. UBS Group lifted their price target 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, Truist Financial lifted their price target on W. R. Berkley from $83.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.56.

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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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