NEOS Investment Management LLC lifted its stake in W. R. Berkley Co. (NYSE:WRB - Free Report) by 29.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,227 shares of the insurance provider's stock after buying an additional 3,729 shares during the period. NEOS Investment Management LLC's holdings in W. R. Berkley were worth $950,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in shares of W. R. Berkley by 48.6% in the 3rd quarter. State Street Corp now owns 15,121,001 shares of the insurance provider's stock valued at $857,814,000 after buying an additional 4,947,830 shares in the last quarter. Janus Henderson Group PLC raised its position in W. R. Berkley by 51.0% in the third quarter. Janus Henderson Group PLC now owns 11,321,958 shares of the insurance provider's stock worth $642,294,000 after purchasing an additional 3,825,238 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in W. R. Berkley by 55.1% during the third quarter. JPMorgan Chase & Co. now owns 7,366,424 shares of the insurance provider's stock worth $417,897,000 after purchasing an additional 2,616,227 shares during the period. Principal Financial Group Inc. boosted its stake in W. R. Berkley by 211.3% in the 3rd quarter. Principal Financial Group Inc. now owns 3,674,171 shares of the insurance provider's stock valued at $208,436,000 after buying an additional 2,493,758 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in W. R. Berkley by 47.9% in the third quarter. Geode Capital Management LLC now owns 7,591,353 shares of the insurance provider's stock valued at $429,266,000 after acquiring an additional 2,459,073 shares during the period. 68.82% of the stock is owned by institutional investors and hedge funds.
W. R. Berkley Trading Down 0.7 %
NYSE:WRB traded down $0.52 on Wednesday, hitting $69.73. 2,246,003 shares of the stock were exchanged, compared to its average volume of 1,777,257. The stock has a market capitalization of $26.44 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 1.56 and a beta of 0.63. 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 Co. has a 52 week low of $50.73 and a 52 week high of $76.38. The company's 50-day moving average price is $62.15 and its 200 day moving average price is $60.36.
W. R. Berkley (NYSE:WRB - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The insurance provider reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.18. W. R. Berkley had a net margin of 12.88% and a return on equity of 20.83%. On average, equities research analysts forecast that W. R. Berkley Co. will post 4.33 earnings per share for the current year.
W. R. Berkley Announces Dividend
The business 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. The ex-dividend date was Monday, March 3rd. This represents a $0.32 annualized dividend and a dividend yield of 0.46%. W. R. Berkley's dividend payout ratio is currently 7.34%.
Analysts Set New Price Targets
Several equities research analysts have recently commented on WRB shares. StockNews.com upgraded shares of W. R. Berkley from a "hold" rating to a "buy" rating in a research note on Wednesday, March 26th. Morgan Stanley initiated coverage on shares of W. R. Berkley in a research report on Thursday, December 5th. They issued an "equal weight" rating and a $65.00 price target on the stock. 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. Wells Fargo & Company boosted their target price on W. R. Berkley from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Finally, Bank of America restated a "neutral" rating and set a $74.00 price target (up from $73.00) on shares of W. R. Berkley in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $64.21.
Read Our Latest Report on W. R. Berkley
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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