abrdn plc cut its holdings in shares of W. R. Berkley Co. (NYSE:WRB - Free Report) by 23.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,329 shares of the insurance provider's stock after selling 26,824 shares during the quarter. abrdn plc's holdings in W. R. Berkley were worth $4,972,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in WRB. State Street Corp grew its position in shares of W. R. Berkley by 48.6% in the 3rd quarter. State Street Corp now owns 15,121,001 shares of the insurance provider's stock valued at $857,814,000 after buying an additional 4,947,830 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of W. R. Berkley by 51.0% in the 3rd quarter. Janus Henderson Group PLC now owns 11,321,958 shares of the insurance provider's stock valued at $642,294,000 after buying an additional 3,825,238 shares during the last quarter. Geode Capital Management LLC grew its position in W. R. Berkley by 47.9% during the 3rd quarter. Geode Capital Management LLC now owns 7,591,353 shares of the insurance provider's stock worth $429,266,000 after purchasing an additional 2,459,073 shares during the last quarter. JPMorgan Chase & Co. grew its position in W. R. Berkley by 55.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,366,424 shares of the insurance provider's stock worth $417,897,000 after purchasing an additional 2,616,227 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in W. R. Berkley by 104.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,154,783 shares of the insurance provider's stock worth $235,701,000 after purchasing an additional 2,118,641 shares during the last quarter. 68.82% of the stock is currently owned by institutional investors and hedge funds.
W. R. Berkley Trading Up 1.4 %
W. R. Berkley stock traded up $0.83 during trading on Thursday, reaching $61.57. The company had a trading volume of 1,201,761 shares, compared to its average volume of 2,019,130. W. R. Berkley Co. has a 12-month low of $50.73 and a 12-month high of $65.49. The stock's 50 day moving average price is $59.35 and its two-hundred day moving average price is $58.97. The firm has a market capitalization of $23.46 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 1.59 and a beta of 0.67. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.36 and a current ratio of 0.36.
W. R. Berkley (NYSE:WRB - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The insurance provider reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.18. W. R. Berkley had a net margin of 12.88% and a return on equity of 20.83%. As a group, equities analysts expect that W. R. Berkley Co. will post 4.35 earnings per share for the current fiscal year.
W. R. Berkley Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a dividend of $0.08 per share. The ex-dividend date was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.52%. W. R. Berkley's dividend payout ratio (DPR) is 7.33%.
Wall Street Analyst Weigh In
Several research firms have recently commented on WRB. Keefe, Bruyette & Woods raised their target price on shares of W. R. Berkley from $60.00 to $61.00 and gave the stock a "market perform" rating in a research note on Tuesday, January 28th. Morgan Stanley assumed coverage on shares of W. R. Berkley in a research note on Thursday, December 5th. They issued an "equal weight" rating and a $65.00 price objective for the company. Truist Financial raised their target price on shares of W. R. Berkley from $64.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, October 17th. The Goldman Sachs Group upgraded shares of W. R. Berkley from a "neutral" rating to a "buy" rating and set a $69.00 target price for the company in a report on Monday, November 25th. Finally, Barclays raised their target price on shares of W. R. Berkley from $50.00 to $52.00 and gave the company an "underweight" rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $64.36.
View Our Latest Stock Report on W. R. Berkley
About W. R. Berkley
(
Free Report)
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.
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