Allstate Corp purchased a new stake in W. R. Berkley Co. (NYSE:WRB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,287 shares of the insurance provider's stock, valued at approximately $602,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wedmont Private Capital lifted its stake in shares of W. R. Berkley by 2.3% in the 4th quarter. Wedmont Private Capital now owns 8,038 shares of the insurance provider's stock valued at $456,000 after purchasing an additional 181 shares during the period. Smartleaf Asset Management LLC increased its holdings in W. R. Berkley by 3.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,289 shares of the insurance provider's stock valued at $310,000 after buying an additional 188 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of W. R. Berkley by 1.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 15,632 shares of the insurance provider's stock worth $915,000 after acquiring an additional 235 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of W. R. Berkley by 1.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,631 shares of the insurance provider's stock worth $773,000 after acquiring an additional 242 shares in the last quarter. Finally, Private Advisor Group LLC grew its position in shares of W. R. Berkley by 1.2% during the 4th quarter. Private Advisor Group LLC now owns 21,588 shares of the insurance provider's stock valued at $1,263,000 after acquiring an additional 257 shares during the period. 68.82% of the stock is owned by institutional investors and hedge funds.
W. R. Berkley Price Performance
Shares of NYSE:WRB traded up $0.55 during midday trading on Thursday, hitting $70.30. The company's stock had a trading volume of 2,311,054 shares, compared to its average volume of 1,779,244. W. R. Berkley Co. has a 12-month low of $50.73 and a 12-month high of $76.38. The company has a market cap of $26.66 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 1.56 and a beta of 0.40. 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 business's 50 day simple moving average is $62.37 and its 200 day simple moving average is $60.43.
W. R. Berkley (NYSE:WRB - Get Free Report) last issued its earnings results on Monday, January 27th. The insurance provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.18. W. R. Berkley had a return on equity of 20.83% and a net margin of 12.88%. On average, analysts forecast that W. R. Berkley Co. will post 4.33 EPS for the current year.
W. R. Berkley Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Monday, March 3rd were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.46%. The ex-dividend date was Monday, March 3rd. W. R. Berkley's payout ratio is currently 7.34%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on WRB. Wells Fargo & Company upped their price target on W. R. Berkley from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Morgan Stanley began coverage on W. R. Berkley in a research note on Thursday, December 5th. They set an "equal weight" rating and a $65.00 target price for the company. Keefe, Bruyette & Woods lifted their price target on shares of W. R. Berkley from $60.00 to $61.00 and gave the company a "market perform" rating in a research note on Tuesday, January 28th. Truist Financial boosted their price target on shares of W. R. Berkley from $68.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday. Finally, StockNews.com downgraded shares of W. R. Berkley from a "buy" rating to a "hold" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $65.13.
Check Out Our Latest Research Report on WRB
W. R. Berkley Company Profile
(
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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