Procyon Advisors LLC Acquires 418 Shares of W. R. Berkley Co. (NYSE:WRB)

Posted by on Mar 27th, 2023

Procyon Advisors LLC increased its holdings in shares of W. R. Berkley Co. (NYSE:WRB – Get Rating) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,625 shares of the insurance provider’s stock after buying an additional 418 shares during the quarter. Procyon Advisors LLC’s holdings in W. R. Berkley were worth $1,134,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. James Investment Research Inc. acquired a new position in W. R. Berkley in the 3rd quarter worth about $27,000. Bogart Wealth LLC increased its holdings in W. R. Berkley by 43.2% in the 3rd quarter. Bogart Wealth LLC now owns 451 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 136 shares in the last quarter. Red Cedar Capital LLC acquired a new position in W. R. Berkley in the 3rd quarter worth about $30,000. First Manhattan Co. increased its holdings in W. R. Berkley by 50.0% in the 1st quarter. First Manhattan Co. now owns 486 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 162 shares in the last quarter. Finally, SRS Capital Advisors Inc. acquired a new position in W. R. Berkley in the 2nd quarter worth about $34,000. 71.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on WRB. Bank of America raised W. R. Berkley from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $77.00 to $76.00 in a report on Wednesday, March 15th. BMO Capital Markets assumed coverage on W. R. Berkley in a research note on Thursday, January 19th. They issued a “market perform” rating and a $76.00 price target for the company. Finally, StockNews.com assumed coverage on W. R. Berkley in a research note on Thursday, March 16th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, W. R. Berkley currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.09.

W. R. Berkley Trading Up 0.1 %

Shares of WRB stock opened at $60.03 on Monday. The company has a market cap of $15.81 billion, a P/E ratio of 12.13, a PEG ratio of 1.36 and a beta of 0.62. The stock has a 50 day simple moving average of $66.71 and a two-hundred day simple moving average of $69.63. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.38 and a current ratio of 0.38. W. R. Berkley Co. has a fifty-two week low of $58.92 and a fifty-two week high of $76.99.

W. R. Berkley (NYSE:WRB – Get Rating) last issued its earnings results on Thursday, January 26th. The insurance provider reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.09. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.92 billion. W. R. Berkley had a return on equity of 18.50% and a net margin of 12.37%. During the same period in the previous year, the company posted $1.02 earnings per share. Research analysts forecast that W. R. Berkley Co. will post 4.9 earnings per share for the current year.

W. R. Berkley Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th were issued a $0.10 dividend. The ex-dividend date was Wednesday, March 8th. This represents a $0.40 dividend on an annualized basis and a yield of 0.67%. W. R. Berkley’s payout ratio is currently 8.08%.

W. R. Berkley Profile

(Get Rating)

W.R. Berkley Corp. is an insurance holding company, which engages in the property casualty insurance business. It operates through the following segments: Insurance and Reinsurance & Monoline Excess. The Insurance segment includes excess and surplus lines, admitted lines, and specialty personal lines throughout the United States, as well as insurance businesses in the United Kingdom, Continental Europe, South America, Canada, Mexico, Scandinavia, Asia, and Australia.

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Institutional Ownership by Quarter for W. R. Berkley (NYSE:WRB)

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