Confluence Investment Management LLC reduced its stake in W. R. Berkley Co. (NYSE:WRB - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,336,426 shares of the insurance provider's stock after selling 26,869 shares during the period. Confluence Investment Management LLC owned approximately 0.35% of W. R. Berkley worth $78,208,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of WRB. Commonwealth Equity Services LLC raised its stake in W. R. Berkley by 2.5% during the second quarter. Commonwealth Equity Services LLC now owns 94,555 shares of the insurance provider's stock worth $7,430,000 after acquiring an additional 2,331 shares in the last quarter. Mascoma Wealth Management LLC bought a new position in W. R. Berkley during the 2nd quarter valued at about $62,000. Strategy Asset Managers LLC acquired a new position in W. R. Berkley in the second quarter valued at about $571,000. TD Asset Management Inc boosted its position in W. R. Berkley by 6.2% in the second quarter. TD Asset Management Inc now owns 462,207 shares of the insurance provider's stock valued at $36,320,000 after buying an additional 27,090 shares in the last quarter. Finally, Nicholas Hoffman & Company LLC. acquired a new stake in shares of W. R. Berkley during the second quarter worth approximately $201,000. 68.82% of the stock is owned by institutional investors and hedge funds.
W. R. Berkley Trading Down 0.9 %
Shares of W. R. Berkley stock traded down $0.51 on Thursday, hitting $58.01. 1,384,925 shares of the company's stock traded hands, compared to its average volume of 1,731,382. The firm's 50-day moving average price is $60.33 and its two-hundred day moving average price is $58.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $22.11 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 1.17 and a beta of 0.65. W. R. Berkley Co. has a one year low of $47.59 and a one year high of $65.49.
W. R. Berkley (NYSE:WRB - Get Free Report) last released its earnings results on Monday, October 21st. The insurance provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.01. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.93 billion. W. R. Berkley had a return on equity of 20.41% and a net margin of 11.96%. The company's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, research analysts expect that W. R. Berkley Co. will post 3.96 EPS for the current fiscal year.
W. R. Berkley Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Monday, December 16th. W. R. Berkley's dividend payout ratio is currently 8.21%.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on WRB. Royal Bank of Canada boosted their target price on W. R. Berkley from $57.00 to $63.00 and gave the stock a "sector perform" rating in a report on Tuesday, October 22nd. The Goldman Sachs Group raised W. R. Berkley from a "neutral" rating to a "buy" rating and set a $69.00 price objective on the stock in a research note on Monday, November 25th. Evercore ISI raised their target price on W. R. Berkley from $57.00 to $60.00 and gave the company an "in-line" rating in a research note on Tuesday, October 22nd. Morgan Stanley assumed coverage on W. R. Berkley in a report on Thursday, December 5th. They issued an "equal weight" rating and a $65.00 price target for the company. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of W. R. Berkley from $59.00 to $58.00 and set a "market perform" rating on the stock in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, W. R. Berkley currently has an average rating of "Hold" and a consensus target price of $64.28.
Read 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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