Tealwood Asset Management Inc. Raises Position in W. R. Berkley Co. (NYSE:WRB)

Tealwood Asset Management Inc. lifted its holdings in shares of W. R. Berkley Co. (NYSE:WRB - Free Report) by 47.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,457 shares of the insurance provider's stock after buying an additional 13,084 shares during the period. Tealwood Asset Management Inc.'s holdings in W. R. Berkley were worth $2,295,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Sound Income Strategies LLC raised its holdings in shares of W. R. Berkley by 563.2% during the 1st quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider's stock worth $40,000 after buying an additional 383 shares in the last quarter. Intelligent Financial Strategies acquired a new position in shares of W. R. Berkley during the 1st quarter worth $44,000. Quarry LP acquired a new position in W. R. Berkley in the 2nd quarter worth about $42,000. Covestor Ltd increased its holdings in W. R. Berkley by 173.0% in the 1st quarter. Covestor Ltd now owns 546 shares of the insurance provider's stock worth $48,000 after purchasing an additional 346 shares in the last quarter. Finally, Kiely Wealth Advisory Group Inc. increased its holdings in W. R. Berkley by 49.9% in 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. Institutional investors and hedge funds own 68.82% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $57.00 target price on shares of W. R. Berkley in a report on Tuesday, July 23rd. TD Cowen assumed coverage on W. R. Berkley in a report on Monday, July 1st. They issued a "buy" rating and a $68.67 target price for the company. Wells Fargo & Company lowered their target price on W. R. Berkley from $62.00 to $59.00 and set an "overweight" rating for the company in a report on Tuesday, July 23rd. StockNews.com cut W. R. Berkley from a "buy" rating to a "hold" rating in a report on Thursday, October 3rd. Finally, Truist Financial upped their price target on W. R. Berkley from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $59.67.

W. R. Berkley Trading Up 1.8 %

Shares of W. R. Berkley stock traded up $0.99 on Tuesday, hitting $57.47. 2,107,111 shares of the company's stock traded hands, compared to its average volume of 1,768,015. W. R. Berkley Co. has a one year low of $41.82 and a one year high of $61.28. 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 company has a fifty day moving average of $57.53 and a two-hundred day moving average of $55.47. The company has a market capitalization of $22.04 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 1.05 and a beta of 0.62.

W. R. Berkley (NYSE:WRB - Get Free Report) last announced its earnings results on Monday, July 22nd. The insurance provider reported $1.04 EPS for the quarter, beating the consensus estimate of $0.92 by $0.12. W. R. Berkley had a return on equity of 21.34% and a net margin of 12.05%. The company had revenue of $3.31 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, sell-side analysts expect that W. R. Berkley Co. will post 4.03 earnings per share for the current year.

W. R. Berkley Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.08 dividend. The ex-dividend date was Monday, September 23rd. This represents a $0.32 annualized dividend and a yield of 0.56%. W. R. Berkley's payout ratio is currently 8.51%.

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.