Patton Fund Management Inc. lessened its holdings in shares of W. R. Berkley Co. (NYSE:WRB - Free Report) by 14.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,341 shares of the insurance provider's stock after selling 9,353 shares during the period. Patton Fund Management Inc.'s holdings in W. R. Berkley were worth $3,122,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. MML Investors Services LLC increased its position in shares of W. R. Berkley by 49.0% during the third quarter. MML Investors Services LLC now owns 39,035 shares of the insurance provider's stock worth $2,214,000 after purchasing an additional 12,830 shares in the last quarter. GSA Capital Partners LLP purchased a new position in W. R. Berkley during the 3rd quarter worth approximately $732,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in W. R. Berkley by 53.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 737,472 shares of the insurance provider's stock worth $41,837,000 after buying an additional 257,211 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in W. R. Berkley by 104.1% in the third quarter. The Manufacturers Life Insurance Company now owns 4,154,783 shares of the insurance provider's stock valued at $235,701,000 after buying an additional 2,118,641 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of W. R. Berkley by 211.3% during 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 acquiring an additional 2,493,758 shares during the period. Hedge funds and other institutional investors own 68.82% of the company's stock.
W. R. Berkley Trading Down 0.9 %
WRB stock traded down $0.54 on Friday, hitting $58.75. 2,496,884 shares of the company were exchanged, compared to its average volume of 2,047,240. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market capitalization of $22.39 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 1.51 and a beta of 0.67. W. R. Berkley Co. has a twelve month low of $50.73 and a twelve month high of $65.49. The business's fifty day moving average is $59.88 and its two-hundred day moving average is $58.55.
W. R. Berkley (NYSE:WRB - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The insurance provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.18. W. R. Berkley had a return on equity of 20.83% and a net margin of 12.88%. As a group, research analysts forecast that W. R. Berkley Co. will post 4.35 earnings per share for the current year.
W. R. Berkley Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, December 16th. W. R. Berkley's dividend payout ratio is currently 7.33%.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the company. The Goldman Sachs Group raised W. R. Berkley from a "neutral" rating to a "buy" rating and set a $69.00 price objective for the company in a research note on Monday, November 25th. Morgan Stanley assumed 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 objective on the stock. Truist Financial raised their target price on shares of W. R. Berkley from $64.00 to $68.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Barclays increased their price target on shares of W. R. Berkley from $50.00 to $52.00 and gave the company an "underweight" rating in a research report on Tuesday. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $63.00 price objective on shares of W. R. Berkley in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, W. R. Berkley presently has a consensus rating of "Hold" and an average target price of $64.36.
Check Out Our Latest Report on W. R. Berkley
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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