Corbyn Investment Management Inc. MD Has $7.38 Million Stake in W. R. Berkley Co. (NYSE:WRB)

Corbyn Investment Management Inc. MD boosted its position in W. R. Berkley Co. (NYSE:WRB - Free Report) by 49.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 130,065 shares of the insurance provider's stock after purchasing an additional 43,189 shares during the period. W. R. Berkley makes up about 2.8% of Corbyn Investment Management Inc. MD's portfolio, making the stock its 12th largest holding. Corbyn Investment Management Inc. MD's holdings in W. R. Berkley were worth $7,379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake 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 valued at $208,436,000 after purchasing an additional 2,493,758 shares during the last quarter. Raymond James & Associates boosted its stake in shares of W. R. Berkley by 58.2% during the 3rd quarter. Raymond James & Associates now owns 1,333,418 shares of the insurance provider's stock worth $75,645,000 after acquiring an additional 490,669 shares in the last quarter. Confluence Investment Management LLC grew its holdings in shares of W. R. Berkley by 47.6% in the 3rd quarter. Confluence Investment Management LLC now owns 1,363,295 shares of the insurance provider's stock worth $77,340,000 after acquiring an additional 439,853 shares during the last quarter. Boston Financial Mangement LLC raised its position in shares of W. R. Berkley by 47.1% during the third quarter. Boston Financial Mangement LLC now owns 987,823 shares of the insurance provider's stock worth $56,039,000 after purchasing an additional 316,269 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of W. R. Berkley by 49.9% during the third quarter. Swiss National Bank now owns 911,062 shares of the insurance provider's stock valued at $51,685,000 after purchasing an additional 303,287 shares during the last quarter. 68.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

WRB has been the topic of several recent analyst reports. Truist Financial boosted their price objective on W. R. Berkley from $64.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods cut their price target on shares of W. R. Berkley from $59.00 to $58.00 and set a "market perform" rating on the stock in a report on Tuesday, October 22nd. Barclays initiated coverage on shares of W. R. Berkley in a research note on Wednesday, September 4th. They issued an "underweight" rating and a $56.00 price objective for the company. UBS Group boosted their target price on shares of W. R. Berkley from $67.00 to $69.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Finally, 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 report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, W. R. Berkley presently has a consensus rating of "Hold" and an average target price of $63.08.

W. R. Berkley Stock Down 0.2 %

NYSE WRB traded down $0.15 during trading on Monday, hitting $60.59. 406,412 shares of the company traded hands, compared to its average volume of 1,780,809. W. R. Berkley Co. has a 12 month low of $45.75 and a 12 month high of $61.96. The business has a fifty day simple moving average of $58.46 and a 200 day simple moving average of $56.21. The company has a market capitalization of $23.09 billion, a P/E ratio of 15.57, a PEG ratio of 1.21 and a beta of 0.62. 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 posted its earnings results on Monday, October 21st. The insurance provider reported $0.93 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the company earned $0.90 EPS. The company's revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts predict that W. R. Berkley Co. will post 3.96 EPS for the current year.

W. R. Berkley Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, September 23rd. W. R. Berkley's dividend payout ratio is currently 8.21%.

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.