Geode Capital Management LLC raised its stake in W. R. Berkley Co. (NYSE:WRB - Free Report) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,694,703 shares of the insurance provider's stock after acquiring an additional 103,350 shares during the period. Geode Capital Management LLC owned approximately 2.02% of W. R. Berkley worth $449,168,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of W. R. Berkley by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 36,436,473 shares of the insurance provider's stock valued at $2,132,262,000 after buying an additional 529,294 shares during the period. State Street Corp lifted its holdings in shares of W. R. Berkley by 48.6% during the third quarter. State Street Corp now owns 15,121,001 shares of the insurance provider's stock worth $857,814,000 after purchasing an additional 4,947,830 shares during the period. JPMorgan Chase & Co. increased its holdings in W. R. Berkley by 55.1% in the third quarter. JPMorgan Chase & Co. now owns 7,366,424 shares of the insurance provider's stock valued at $417,897,000 after purchasing an additional 2,616,227 shares during the period. Norges Bank bought a new position in W. R. Berkley during the 4th quarter worth $272,582,000. Finally, Principal Financial Group Inc. lifted its holdings in W. R. Berkley by 12.2% during the 4th quarter. Principal Financial Group Inc. now owns 4,121,968 shares of the insurance provider's stock worth $241,218,000 after buying an additional 447,797 shares during the period. 68.82% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. Wells Fargo & Company downgraded W. R. Berkley from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $70.00 to $69.00 in a research note on Wednesday. Truist Financial lifted their price target on shares of W. R. Berkley from $68.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods reduced their target price on W. R. Berkley from $64.00 to $62.00 and set a "market perform" rating for the company in a research note on Wednesday. Royal Bank of Canada restated a "sector perform" rating and set a $63.00 price objective on shares of W. R. Berkley in a report on Tuesday, January 28th. Finally, StockNews.com lowered shares of W. R. Berkley from a "buy" rating to a "hold" rating in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, W. R. Berkley has an average rating of "Hold" and an average target price of $65.13.
View Our Latest Stock Analysis on WRB
W. R. Berkley Stock Down 1.6 %
Shares of NYSE WRB traded down $1.10 during mid-day trading on Thursday, hitting $65.84. 522,196 shares of the stock traded hands, compared to its average volume of 2,014,440. 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 stock has a fifty day moving average price of $63.46 and a 200-day moving average price of $60.82. The company has a market cap of $24.97 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.56 and a beta of 0.40. W. R. Berkley Co. has a 52 week low of $50.73 and a 52 week high of $76.38.
W. R. Berkley (NYSE:WRB - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The insurance provider reported $1.13 earnings per share for the quarter, beating 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%. Research analysts anticipate that W. R. Berkley Co. will post 4.33 EPS for the current year.
W. R. Berkley Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, March 3rd were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 0.49%. W. R. Berkley's dividend payout ratio is presently 7.34%.
W. R. Berkley 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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