Strategic Financial Concepts LLC acquired a new position in W. R. Berkley Co. (NYSE:WRB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,141 shares of the insurance provider's stock, valued at approximately $1,062,000.
A number of other institutional investors have also added to or reduced their stakes in the company. Armstrong Advisory Group Inc. grew its position in shares of W. R. Berkley by 51.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider's stock valued at $35,000 after acquiring an additional 209 shares during the period. PFS Partners LLC grew its position in shares of W. R. Berkley by 51.1% during the 3rd quarter. PFS Partners LLC now owns 719 shares of the insurance provider's stock valued at $41,000 after acquiring an additional 243 shares during the period. Creative Financial Designs Inc. ADV grew its position in shares of W. R. Berkley by 108.1% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 801 shares of the insurance provider's stock valued at $45,000 after acquiring an additional 416 shares during the period. Coastline Trust Co bought a new position in shares of W. R. Berkley during the 3rd quarter valued at approximately $47,000. Finally, Brooklyn Investment Group bought a new position in shares of W. R. Berkley during the 3rd quarter valued at approximately $48,000. 68.82% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the stock. Evercore ISI increased their target price on shares of W. R. Berkley from $57.00 to $60.00 and gave the company an "in-line" rating in a research report on Tuesday, October 22nd. Bank of America raised their price objective on shares of W. R. Berkley from $73.00 to $76.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. The Goldman Sachs Group raised shares of W. R. Berkley from a "neutral" rating to a "buy" rating and set a $69.00 price objective for the company in a report on Monday, November 25th. Morgan Stanley started coverage on shares of W. R. Berkley in a report on Thursday, December 5th. They issued an "equal weight" rating and a $65.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised their price objective on shares of W. R. Berkley from $60.00 to $61.00 and gave the stock a "market perform" rating in a report on Tuesday, January 28th. One 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 MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $64.36.
Read Our Latest Report on WRB
W. R. Berkley Price Performance
Shares of W. R. Berkley stock traded down $1.10 on Friday, hitting $60.39. 1,432,742 shares of the company traded hands, compared to its average volume of 2,203,621. The firm's 50-day simple moving average is $59.26 and its 200 day simple moving average is $59.05. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.34. The company has a market cap of $23.01 billion, a P/E ratio of 13.84, a P/E/G ratio of 1.59 and a beta of 0.67. W. R. Berkley Co. has a 12-month low of $50.73 and a 12-month high of $65.49.
W. R. Berkley (NYSE:WRB - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The insurance provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.18. W. R. Berkley had a net margin of 12.88% and a return on equity of 20.83%. Analysts expect that W. R. Berkley Co. will post 4.35 earnings per share for the current fiscal year.
W. R. Berkley Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, December 16th. W. R. Berkley's payout ratio is presently 7.33%.
W. R. Berkley 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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