Martingale Asset Management L P cut its stake in shares of W. R. Berkley Co. (NYSE:WRB - Free Report) by 76.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,619 shares of the insurance provider's stock after selling 21,544 shares during the quarter. Martingale Asset Management L P's holdings in W. R. Berkley were worth $375,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in WRB. GSA Capital Partners LLP bought a new position in shares of W. R. Berkley in the third quarter valued at about $732,000. Sumitomo Mitsui Trust Group Inc. increased its position in W. R. Berkley by 53.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 737,472 shares of the insurance provider's stock worth $41,837,000 after purchasing an additional 257,211 shares during the period. Sanctuary Advisors LLC acquired a new stake in W. R. Berkley in the second quarter worth about $4,801,000. Atria Investments Inc increased its position in W. R. Berkley by 49.9% in the third quarter. Atria Investments Inc now owns 92,574 shares of the insurance provider's stock worth $5,252,000 after purchasing an additional 30,833 shares during the period. Finally, Markel Group Inc. increased its position in W. R. Berkley by 50.0% in the third quarter. Markel Group Inc. now owns 60,750 shares of the insurance provider's stock worth $3,446,000 after purchasing an additional 20,250 shares during the period. 68.82% of the stock is owned by institutional investors.
W. R. Berkley Stock Performance
Shares of WRB stock traded up $0.14 during trading on Wednesday, reaching $63.66. 794,747 shares of the company's stock were exchanged, compared to its average volume of 1,753,839. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $24.26 billion, a PE ratio of 16.33, a PEG ratio of 1.23 and a beta of 0.65. W. R. Berkley Co. has a twelve month low of $45.75 and a twelve month high of $65.49. The firm's fifty day moving average price is $59.67 and its 200-day moving average price is $57.09.
W. R. Berkley (NYSE:WRB - Get Free Report) last issued its quarterly earnings data on Monday, October 21st. The insurance provider reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.01. W. R. Berkley had a return on equity of 20.41% and a net margin of 11.96%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same period in the prior year, the firm posted $0.90 EPS. The company's revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts anticipate that W. R. Berkley Co. will post 3.94 EPS for the current year.
W. R. Berkley Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a dividend of $0.08 per share. The ex-dividend date was Monday, September 23rd. This represents a $0.32 annualized dividend and a dividend yield of 0.50%. W. R. Berkley's dividend payout ratio is currently 8.20%.
Wall Street Analyst Weigh In
WRB has been the subject of a number of research reports. UBS Group lifted their price objective on W. R. Berkley from $67.00 to $69.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Evercore ISI boosted their target price on W. R. Berkley from $57.00 to $60.00 and gave the stock an "in-line" rating in a research report on Tuesday, October 22nd. Truist Financial boosted their price objective on W. R. Berkley from $64.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Wells Fargo & Company boosted their price objective on W. R. Berkley from $63.00 to $68.00 and gave the company an "overweight" rating in a research report on Tuesday, October 22nd. Finally, Barclays initiated coverage on W. R. Berkley in a research report on Wednesday, September 4th. They issued an "underweight" rating and a $56.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $64.22.
Get Our Latest Stock Report on WRB
W. R. Berkley Company 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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