1832 Asset Management L.P. Acquires 26,464 Shares of W. R. Berkley Co. (NYSE:WRB)

1832 Asset Management L.P. boosted its position in shares of W. R. Berkley Co. (NYSE:WRB - Free Report) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,929,931 shares of the insurance provider's stock after purchasing an additional 26,464 shares during the quarter. 1832 Asset Management L.P. owned about 0.50% of W. R. Berkley worth $151,654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of WRB. Sound Income Strategies LLC increased its stake in W. R. Berkley by 563.2% in the first quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider's stock valued at $40,000 after purchasing an additional 383 shares in the last quarter. Intelligent Financial Strategies acquired a new position in shares of W. R. Berkley in the 1st quarter valued at approximately $44,000. Kiely Wealth Advisory Group Inc. increased its stake in W. R. Berkley by 49.9% during the 2nd quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider's stock worth $46,000 after purchasing an additional 193 shares in the last quarter. Covestor Ltd raised its holdings in W. R. Berkley by 173.0% during the 1st quarter. Covestor Ltd now owns 546 shares of the insurance provider's stock worth $48,000 after buying an additional 346 shares during the period. Finally, Mascoma Wealth Management LLC bought a new position in W. R. Berkley in the second quarter valued at approximately $62,000. Institutional investors own 68.82% of the company's stock.

W. R. Berkley Stock Performance

NYSE WRB traded down $0.07 on Friday, hitting $57.45. 5,837,141 shares of the stock were exchanged, compared to its average volume of 1,758,733. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.38 and a quick ratio of 0.38. The business's fifty day moving average is $56.76 and its 200 day moving average is $73.00. The company has a market capitalization of $22.03 billion, a PE ratio of 15.28, a P/E/G ratio of 1.05 and a beta of 0.62. W. R. Berkley Co. has a 52 week low of $41.37 and a 52 week high of $61.28.

W. R. Berkley (NYSE:WRB - Get Free Report) last released its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.92 by $0.12. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $2.84 billion. W. R. Berkley had a net margin of 12.05% and a return on equity of 21.34%. The company's quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 earnings per share. Research analysts anticipate that W. R. Berkley Co. will post 4.03 EPS for the current fiscal year.

W. R. Berkley Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Monday, September 23rd. W. R. Berkley's dividend payout ratio is presently 8.51%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WRB. Royal Bank of Canada reissued a "sector perform" rating and set a $57.00 price objective on shares of W. R. Berkley in a research report on Tuesday, July 23rd. The Goldman Sachs Group cut W. R. Berkley from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $88.00 to $83.00 in a research report on Thursday, June 13th. Wells Fargo & Company dropped their target price on W. R. Berkley from $62.00 to $59.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 23rd. TD Cowen began coverage on W. R. Berkley in a research report on Monday, July 1st. They set a "buy" rating and a $103.00 price target for the company. Finally, Truist Financial lifted their price objective on shares of W. R. Berkley from $62.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $77.70.

About W. R. Berkley

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.