Elevate Capital Advisors LLC acquired a new position in W. R. Berkley Co. (NYSE:WRB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 56,110 shares of the insurance provider's stock, valued at approximately $3,284,000. W. R. Berkley comprises approximately 2.9% of Elevate Capital Advisors LLC's portfolio, making the stock its 9th largest position.
Other institutional investors and hedge funds have also bought and sold shares of the company. MML Investors Services LLC grew its position in W. R. Berkley by 49.0% during the third quarter. MML Investors Services LLC now owns 39,035 shares of the insurance provider's stock worth $2,214,000 after buying an additional 12,830 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in W. R. Berkley during the third quarter worth about $732,000. Sumitomo Mitsui Trust Group Inc. grew its position in W. R. Berkley by 53.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 737,472 shares of the insurance provider's stock worth $41,837,000 after buying an additional 257,211 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in W. R. Berkley by 104.1% during the third quarter. The Manufacturers Life Insurance Company now owns 4,154,783 shares of the insurance provider's stock worth $235,701,000 after buying an additional 2,118,641 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in W. R. Berkley by 211.3% during the third quarter. Principal Financial Group Inc. now owns 3,674,171 shares of the insurance provider's stock worth $208,436,000 after buying an additional 2,493,758 shares in the last quarter. Institutional investors own 68.82% of the company's stock.
W. R. Berkley Price Performance
Shares of NYSE:WRB traded up $0.83 during trading on Thursday, reaching $61.57. The stock had a trading volume of 1,201,761 shares, compared to its average volume of 2,019,130. 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 business's 50-day moving average price is $59.35 and its 200 day moving average price is $58.97. W. R. Berkley Co. has a 52 week low of $50.73 and a 52 week high of $65.49. The stock has a market capitalization of $23.46 billion, a PE ratio of 14.11, a P/E/G ratio of 1.59 and a beta of 0.67.
W. R. Berkley (NYSE:WRB - Get Free Report) last posted its quarterly earnings data 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 net margin of 12.88% and a return on equity of 20.83%. As a group, equities analysts predict that W. R. Berkley Co. will post 4.35 earnings per share for the current year.
W. R. Berkley Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, December 16th. W. R. Berkley's dividend payout ratio (DPR) is presently 7.33%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on WRB. Royal Bank of Canada reissued a "sector perform" rating and set a $63.00 target price on shares of W. R. Berkley in a research report on Tuesday, January 28th. UBS Group raised their price target on shares of W. R. Berkley from $67.00 to $69.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Bank of America raised their price target on shares of W. R. Berkley from $73.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods raised their price target 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. Finally, The Goldman Sachs Group upgraded shares of W. R. Berkley from a "neutral" rating to a "buy" rating and set a $69.00 price target for the company in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $64.36.
Get Our Latest Stock Report on WRB
W. R. Berkley Profile
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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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