Public Sector Pension Investment Board grew its stake in shares of W. R. Berkley Co. (NYSE:WRB - Free Report) by 53.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,498 shares of the insurance provider's stock after acquiring an additional 18,366 shares during the quarter. Public Sector Pension Investment Board's holdings in W. R. Berkley were worth $2,978,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of WRB. Cetera Investment Advisers grew its holdings in shares of W. R. Berkley by 224.2% during the 1st quarter. Cetera Investment Advisers now owns 43,339 shares of the insurance provider's stock worth $3,833,000 after purchasing an additional 29,970 shares during the period. Cetera Advisors LLC purchased a new position in W. R. Berkley in the 1st quarter worth approximately $968,000. GAMMA Investing LLC boosted its holdings in W. R. Berkley by 40.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,671 shares of the insurance provider's stock worth $210,000 after acquiring an additional 770 shares during the period. Mather Group LLC. boosted its holdings in W. R. Berkley by 26.9% in the 2nd quarter. Mather Group LLC. now owns 3,931 shares of the insurance provider's stock worth $309,000 after acquiring an additional 833 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in W. R. Berkley by 29.5% in the 2nd quarter. Park Avenue Securities LLC now owns 8,222 shares of the insurance provider's stock worth $646,000 after acquiring an additional 1,874 shares during the period. Hedge funds and other institutional investors own 68.82% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. StockNews.com upgraded W. R. Berkley from a "hold" rating to a "buy" rating in a report on Friday, November 29th. Royal Bank of Canada increased their target price on W. R. Berkley from $57.00 to $63.00 and gave the company a "sector perform" rating in a research note on Tuesday, October 22nd. Bank of America increased their target price on W. R. Berkley from $73.00 to $76.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. UBS Group upped their price target on W. R. Berkley from $67.00 to $69.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Finally, Truist Financial upped their price target 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, W. R. Berkley presently has an average rating of "Hold" and a consensus price target of $64.22.
Get Our Latest Analysis on W. R. Berkley
W. R. Berkley Price Performance
WRB stock traded up $0.21 during trading hours on Wednesday, hitting $63.73. 326,557 shares of the stock traded hands, compared to its average volume of 1,751,677. The stock has a 50-day simple moving average of $59.67 and a 200 day simple moving average of $57.09. W. R. Berkley Co. has a one year low of $45.75 and a one year high of $65.49. The company has a market cap of $24.29 billion, a P/E ratio of 16.33, a P/E/G ratio of 1.23 and a beta of 0.65. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.34.
W. R. Berkley (NYSE:WRB - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The insurance provider reported $0.93 earnings per share 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 business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the company posted $0.90 EPS. W. R. Berkley's revenue for the quarter was up 10.8% on a year-over-year basis. Equities analysts forecast that W. R. Berkley Co. will post 3.94 earnings per share for the current year.
W. R. Berkley Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Monday, September 23rd. W. R. Berkley's dividend payout ratio is currently 8.20%.
W. R. Berkley Company 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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