W. R. Berkley Co. (NYSE:WRB) Shares Acquired by Credit Suisse AG

Posted by Defense World Staff on Aug 21st, 2023

Credit Suisse AG lifted its position in shares of W. R. Berkley Co. (NYSE:WRB – Free Report) by 6.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 828,853 shares of the insurance provider’s stock after acquiring an additional 49,839 shares during the period. Credit Suisse AG owned about 0.32% of W. R. Berkley worth $51,604,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dark Forest Capital Management LP acquired a new stake in W. R. Berkley in the fourth quarter worth $30,000. First Manhattan Co. increased its position in W. R. Berkley by 50.0% in the first quarter. First Manhattan Co. now owns 486 shares of the insurance provider’s stock worth $32,000 after buying an additional 162 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in W. R. Berkley in the fourth quarter worth $32,000. Spire Wealth Management increased its position in W. R. Berkley by 549.0% in the first quarter. Spire Wealth Management now owns 662 shares of the insurance provider’s stock worth $41,000 after buying an additional 560 shares during the period. Finally, Atlas Capital Advisors LLC acquired a new stake in W. R. Berkley in the second quarter worth $49,000. 67.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company dropped their target price on W. R. Berkley from $76.00 to $75.00 and set an “overweight” rating on the stock in a research report on Friday, July 21st. StockNews.com assumed coverage on W. R. Berkley in a research report on Thursday. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

Get Our Latest Report on WRB

W. R. Berkley Trading Up 0.2 %

NYSE:WRB opened at $61.94 on Monday. W. R. Berkley Co. has a 1 year low of $55.50 and a 1 year high of $76.99. The stock has a market cap of $15.95 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.52 and a beta of 0.63. The business has a fifty day moving average of $60.48 and a 200-day moving average of $61.33. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.40 and a current ratio of 0.40.

W. R. Berkley (NYSE:WRB – Get Free Report) last announced its earnings results on Thursday, July 20th. The insurance provider reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.07. W. R. Berkley had a return on equity of 17.65% and a net margin of 10.85%. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter last year, the business posted $1.12 earnings per share. The company’s quarterly revenue was up 19.2% on a year-over-year basis. Equities analysts predict that W. R. Berkley Co. will post 4.52 earnings per share for the current year.

W. R. Berkley Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Monday, June 26th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, June 23rd. This represents a $0.44 annualized dividend and a yield of 0.71%. This is a boost from W. R. Berkley’s previous quarterly dividend of $0.10. W. R. Berkley’s dividend payout ratio (DPR) is currently 9.67%.

W. R. Berkley Company Profile

(Free Report)

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and general and professional liability lines.