OLD National Bancorp IN Sells 7,880 Shares of W. R. Berkley Co. (NYSE:WRB)

OLD National Bancorp IN lowered its holdings in W. R. Berkley Co. (NYSE:WRB) by 68.3% in the first quarter, Holdings Channel reports. The firm owned 3,655 shares of the insurance provider’s stock after selling 7,880 shares during the quarter. OLD National Bancorp IN’s holdings in W. R. Berkley were worth $260,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in W. R. Berkley by 75.6% in the fourth quarter. Brighton Jones LLC now owns 50,503 shares of the insurance provider’s stock valued at $2,955,000 after acquiring an additional 21,737 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in W. R. Berkley by 33.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,289 shares of the insurance provider’s stock valued at $1,609,000 after acquiring an additional 6,786 shares during the last quarter. Choreo LLC lifted its stake in W. R. Berkley by 17.4% in the fourth quarter. Choreo LLC now owns 5,498 shares of the insurance provider’s stock valued at $322,000 after acquiring an additional 813 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in W. R. Berkley in the fourth quarter valued at $1,062,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in W. R. Berkley by 2.4% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,009 shares of the insurance provider’s stock valued at $1,990,000 after acquiring an additional 787 shares during the last quarter. Institutional investors own 68.82% of the company’s stock.

Analyst Ratings Changes

WRB has been the subject of a number of research reports. Jefferies Financial Group raised their target price on shares of W. R. Berkley from $57.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. Morgan Stanley raised their target price on shares of W. R. Berkley from $63.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Wells Fargo & Company raised their target price on shares of W. R. Berkley from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 22nd. UBS Group raised their target price on shares of W. R. Berkley from $73.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, April 28th. Finally, Bank of America restated a “neutral” rating and set a $74.00 target price (up previously from $73.00) on shares of W. R. Berkley in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $70.64.

W. R. Berkley Trading Down 1.4%

Shares of WRB stock opened at $71.73 on Wednesday. W. R. Berkley Co. has a 52-week low of $51.17 and a 52-week high of $76.38. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.36 and a current ratio of 0.36. The company has a 50-day simple moving average of $71.17 and a two-hundred day simple moving average of $64.80. The company has a market capitalization of $27.21 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.56 and a beta of 0.42.

W. R. Berkley (NYSE:WRB) last issued its quarterly earnings data on Monday, April 21st. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.07). W. R. Berkley had a return on equity of 20.83% and a net margin of 12.88%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.01 billion. Research analysts anticipate that W. R. Berkley Co. will post 4.33 EPS for the current fiscal year.

W. R. Berkley Profile

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.