Commonwealth Equity Services LLC boosted its position in shares of W. R. Berkley Co. (NYSE:WRB – Free Report) by 35.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,150 shares of the insurance provider’s stock after purchasing an additional 10,716 shares during the quarter. Commonwealth Equity Services LLC’s holdings in W. R. Berkley were worth $2,562,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WRB. Dark Forest Capital Management LP bought a new stake in W. R. Berkley during the 4th quarter worth about $30,000. First Manhattan Co. raised its holdings in W. R. Berkley by 50.0% during 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 during the last quarter. Resurgent Financial Advisors LLC bought a new stake in W. R. Berkley during the 4th quarter worth about $32,000. Spire Wealth Management raised its holdings in W. R. Berkley by 549.0% during the 1st quarter. Spire Wealth Management now owns 662 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 560 shares during the last quarter. Finally, Atlas Capital Advisors LLC bought a new stake in W. R. Berkley during the 2nd quarter worth about $49,000. 66.34% of the stock is owned by institutional investors.
W. R. Berkley Price Performance
NYSE WRB opened at $61.73 on Wednesday. The business has a 50 day simple moving average of $61.25 and a 200 day simple moving average of $60.79. W. R. Berkley Co. has a 52-week low of $55.50 and a 52-week high of $76.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market cap of $15.90 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 1.53 and a beta of 0.63.
W. R. Berkley Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Monday, June 26th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, June 23rd. This represents a $0.44 dividend on an annualized basis and a yield of 0.71%. This is an increase from W. R. Berkley’s previous quarterly dividend of $0.10. W. R. Berkley’s dividend payout ratio is 9.67%.
Wall Street Analyst Weigh In
Several analysts have weighed in on the company. StockNews.com initiated coverage on W. R. Berkley in a report on Thursday, August 17th. They set a “buy” rating for the company. Wells Fargo & Company lowered their price target on W. R. Berkley from $76.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, July 21st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, W. R. Berkley presently has a consensus rating of “Moderate Buy” and an average target price of $78.00.
Read Our Latest Analysis on W. R. Berkley
About W. R. Berkley
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.
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