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LPL Financial LLC boosted its position in shares of W. R. Berkley Co. (NYSE:WRB – Free Report) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 335,549 shares of the insurance provider’s stock after acquiring an additional 9,349 shares during the quarter. LPL Financial LLC’s holdings in W. R. Berkley were worth $19,636,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its position in W. R. Berkley by 44.8% in the third quarter. Thrivent Financial for Lutherans now owns 11,796 shares of the insurance provider’s stock valued at $669,000 after buying an additional 3,647 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in shares of W. R. Berkley in the 3rd quarter valued at $203,000. FMR LLC increased its stake in shares of W. R. Berkley by 68.6% in the third quarter. FMR LLC now owns 116,767 shares of the insurance provider’s stock worth $6,624,000 after acquiring an additional 47,515 shares during the period. Glenmede Trust Co. NA raised its holdings in shares of W. R. Berkley by 59.8% during the third quarter. Glenmede Trust Co. NA now owns 9,859 shares of the insurance provider’s stock worth $559,000 after purchasing an additional 3,688 shares during the last quarter. Finally, CreativeOne Wealth LLC acquired a new position in W. R. Berkley during the third quarter valued at $410,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.
W. R. Berkley Stock Down 0.1 %
WRB opened at $71.18 on Tuesday. The company has a market cap of $26.99 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 1.56 and a beta of 0.63. W. R. Berkley Co. has a twelve month low of $50.73 and a twelve month high of $76.38. The company has a 50-day moving average price of $61.93 and a 200 day moving average price of $60.28. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.34.
W. R. Berkley (NYSE:WRB – Get Free Report) last released its earnings results 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%. Sell-side analysts expect that W. R. Berkley Co. will post 4.33 earnings per share for the current fiscal year.
W. R. Berkley Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date was Monday, March 3rd. W. R. Berkley’s payout ratio is 7.34%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on W. R. Berkley from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Morgan Stanley assumed coverage on W. R. Berkley in a research report on Thursday, December 5th. They set an “equal weight” rating and a $65.00 price target for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $63.00 price objective on shares of W. R. Berkley in a research report on Tuesday, January 28th. StockNews.com raised shares of W. R. Berkley from a “hold” rating to a “buy” rating in a report on Wednesday, March 26th. Finally, Barclays increased their price target on shares of W. R. Berkley from $50.00 to $52.00 and gave the stock an “underweight” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, W. R. Berkley currently has a consensus rating of “Hold” and a consensus price target of $64.36.
Get Our Latest Stock Analysis on WRB
About W. R. Berkley
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.
See Also
Want to see what other hedge funds are holding WRB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for W. R. Berkley Co. (NYSE:WRB – Free Report).
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