Fairman Group LLC reduced its stake in W. R. Berkley Co. (NYSE:WRB - Free Report) by 24.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,087 shares of the insurance provider's stock after selling 17,000 shares during the quarter. W. R. Berkley comprises 2.6% of Fairman Group LLC's holdings, making the stock its 7th largest holding. Fairman Group LLC's holdings in W. R. Berkley were worth $3,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in WRB. Armstrong Advisory Group Inc. lifted its stake in W. R. Berkley by 51.0% in the third quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider's stock valued at $35,000 after buying an additional 209 shares during the period. PFS Partners LLC lifted its holdings in shares of W. R. Berkley by 51.1% in the 3rd quarter. PFS Partners LLC now owns 719 shares of the insurance provider's stock worth $41,000 after purchasing an additional 243 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in W. R. Berkley by 108.1% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 801 shares of the insurance provider's stock valued at $45,000 after purchasing an additional 416 shares during the period. Coastline Trust Co bought a new stake in W. R. Berkley during the 3rd quarter valued at $47,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of W. R. Berkley by 45.6% in the third quarter. Raleigh Capital Management Inc. now owns 843 shares of the insurance provider's stock valued at $48,000 after buying an additional 264 shares in the last quarter. 68.82% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
WRB has been the subject of several recent research reports. Bank of America boosted their target price on shares of W. R. Berkley from $73.00 to $76.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Evercore ISI boosted their price objective on W. R. Berkley from $57.00 to $60.00 and gave the stock an "in-line" rating in a report on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on W. R. Berkley from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Barclays boosted their price objective on W. R. Berkley from $50.00 to $52.00 and gave the stock an "underweight" rating in a report on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods boosted their price objective on 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 investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, W. R. Berkley currently has an average rating of "Hold" and a consensus target price of $64.36.
Check Out Our Latest Report on W. R. Berkley
W. R. Berkley Stock Performance
NYSE WRB traded down $1.10 on Friday, hitting $60.39. 1,432,742 shares of the stock traded hands, compared to its average volume of 2,203,621. The business's fifty day moving average is $59.26 and its two-hundred day moving average is $59.05. W. R. Berkley Co. has a 12 month low of $50.73 and a 12 month high of $65.49. The firm has a market capitalization of $23.01 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.59 and a beta of 0.67. 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 (NYSE:WRB - Get Free Report) last announced 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 return on equity of 20.83% and a net margin of 12.88%. As a group, equities analysts anticipate that W. R. Berkley Co. will post 4.35 EPS for the current fiscal year.
W. R. Berkley Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.53%. The ex-dividend date was Monday, December 16th. W. R. Berkley's dividend payout ratio (DPR) is 7.33%.
W. R. Berkley Company Profile
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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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