Pinebridge Investments L.P. Has $5.23 Million Position in W. R. Berkley Co. (NYSE:WRB)

Pinebridge Investments L.P. reduced its position in shares of W. R. Berkley Co. (NYSE:WRB - Free Report) by 14.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,299 shares of the insurance provider's stock after selling 14,903 shares during the period. Pinebridge Investments L.P.'s holdings in W. R. Berkley were worth $5,226,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WRB. Amundi grew its stake in shares of W. R. Berkley by 43.1% in the 4th quarter. Amundi now owns 1,477,932 shares of the insurance provider's stock worth $85,853,000 after purchasing an additional 444,986 shares during the last quarter. Principal Financial Group Inc. boosted its holdings 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. Brown Lisle Cummings Inc. bought a new position in shares of W. R. Berkley in the fourth quarter valued at $982,000. Merit Financial Group LLC acquired a new stake in shares of W. R. Berkley during the 4th quarter valued at $560,000. Finally, HighPoint Advisor Group LLC lifted its position in shares of W. R. Berkley by 12.0% during the 4th quarter. HighPoint Advisor Group LLC now owns 4,967 shares of the insurance provider's stock valued at $304,000 after acquiring an additional 532 shares during the last quarter. 68.82% of the stock is currently owned by institutional investors.

W. R. Berkley Stock Up 0.3 %

Shares of W. R. Berkley stock traded up $0.23 during midday trading on Monday, reaching $70.71. 1,592,626 shares of the company's stock traded hands, compared to its average volume of 1,770,589. The company has a market cap of $26.82 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 1.56 and a beta of 0.40. W. R. Berkley Co. has a 52 week low of $51.13 and a 52 week high of $76.38. The company's 50 day simple moving average is $65.50 and its 200 day simple moving average is $61.86. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.36 and a current ratio of 0.36.

W. R. Berkley (NYSE:WRB - Get Free Report) last released its quarterly earnings results on Monday, April 21st. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.07). W. R. Berkley had a return on equity of 20.83% and a net margin of 12.88%. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $3.01 billion. Equities analysts expect that W. R. Berkley Co. will post 4.33 earnings per share for the current fiscal year.

W. R. Berkley Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, March 3rd were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, March 3rd. W. R. Berkley's dividend payout ratio is 7.42%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WRB. Keefe, Bruyette & Woods upped their target price on W. R. Berkley from $62.00 to $65.00 and gave the company a "market perform" rating in a report on Tuesday, April 22nd. Truist Financial lifted their price target on W. R. Berkley from $68.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, April 3rd. StockNews.com downgraded W. R. Berkley from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $63.00 target price on shares of W. R. Berkley in a report on Tuesday, January 28th. Finally, Jefferies Financial Group raised their price target on shares of W. R. Berkley from $57.00 to $66.00 and gave the stock a "hold" rating in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $68.39.

W. R. Berkley Profile

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.