Resources Management Corp CT ADV Buys 12,911 Shares of W. R. Berkley Co. (NYSE:WRB)

Resources Management Corp CT ADV boosted its holdings in W. R. Berkley Co. (NYSE:WRB - Free Report) by 84.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,267 shares of the insurance provider's stock after buying an additional 12,911 shares during the period. Resources Management Corp CT ADV's holdings in W. R. Berkley were worth $1,604,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SG Americas Securities LLC lifted its position in W. R. Berkley by 89.7% during the 2nd quarter. SG Americas Securities LLC now owns 66,309 shares of the insurance provider's stock worth $5,211,000 after buying an additional 31,346 shares in the last quarter. Czech National Bank grew its stake in W. R. Berkley by 7.9% in the 2nd quarter. Czech National Bank now owns 38,488 shares of the insurance provider's stock valued at $3,024,000 after buying an additional 2,828 shares during the last quarter. Wedmont Private Capital raised its holdings in W. R. Berkley by 58.1% in the 2nd quarter. Wedmont Private Capital now owns 7,540 shares of the insurance provider's stock valued at $592,000 after acquiring an additional 2,772 shares during the period. ORG Partners LLC bought a new stake in shares of W. R. Berkley during the second quarter worth approximately $137,000. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of W. R. Berkley by 0.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 39,857 shares of the insurance provider's stock valued at $3,132,000 after purchasing an additional 202 shares during the last quarter. 68.82% of the stock is currently owned by institutional investors.

W. R. Berkley Price Performance

Shares of WRB stock traded down $0.75 on Tuesday, hitting $61.29. 1,213,205 shares of the company's stock were exchanged, compared to its average volume of 1,744,054. The company has a 50 day moving average of $60.27 and a 200 day moving average of $57.44. The stock has a market cap of $23.36 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 1.21 and a beta of 0.65. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.36 and a quick ratio of 0.36. W. R. Berkley Co. has a 12 month low of $45.75 and a 12 month high of $65.49.

W. R. Berkley (NYSE:WRB - Get Free Report) last posted its earnings results on Monday, October 21st. The insurance provider reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.01. The firm had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.93 billion. W. R. Berkley had a net margin of 11.96% and a return on equity of 20.41%. The business's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, equities research analysts predict that W. R. Berkley Co. will post 3.96 EPS for the current year.

W. R. Berkley Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.52%. W. R. Berkley's payout ratio is presently 8.20%.

Analysts Set New Price Targets

A number of brokerages have commented on WRB. The Goldman Sachs Group raised W. R. Berkley from a "neutral" rating to a "buy" rating and set a $69.00 price objective on the stock in a report on Monday, November 25th. Evercore ISI raised their price target on shares of 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. Bank of America lifted their price objective on shares of W. R. Berkley from $73.00 to $76.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Wells Fargo & Company increased their target price on shares of W. R. Berkley from $63.00 to $68.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Finally, Truist Financial lifted their price target on shares of 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 investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $64.28.

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.