W. R. Berkley Co. (NYSE:WRB) Shares Bought by Truist Financial Corp

Truist Financial Corp lifted its holdings in shares of W. R. Berkley Co. (NYSE:WRB) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 730,105 shares of the insurance provider’s stock after acquiring an additional 19,011 shares during the quarter. Truist Financial Corp owned about 0.28% of W. R. Berkley worth $51,633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Morgan Stanley lifted its stake in shares of W. R. Berkley by 4.2% during the third quarter. Morgan Stanley now owns 13,065,224 shares of the insurance provider’s stock worth $829,511,000 after purchasing an additional 529,817 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in W. R. Berkley by 4.6% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,819,124 shares of the insurance provider’s stock worth $432,946,000 after acquiring an additional 302,212 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in W. R. Berkley by 14.2% in the 3rd quarter. Victory Capital Management Inc. now owns 5,639,296 shares of the insurance provider’s stock worth $358,039,000 after acquiring an additional 699,297 shares during the period. Northern Trust Corp grew its position in W. R. Berkley by 5.2% in the third quarter. Northern Trust Corp now owns 2,001,848 shares of the insurance provider’s stock valued at $127,097,000 after acquiring an additional 98,500 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of W. R. Berkley by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 1,748,610 shares of the insurance provider’s stock valued at $111,019,000 after purchasing an additional 62,917 shares during the period. 68.82% of the stock is owned by hedge funds and other institutional investors.

W. R. Berkley Stock Down 1.6 %

Shares of W. R. Berkley stock opened at $76.65 on Friday. The business has a 50-day moving average price of $84.26 and a 200 day moving average price of $76.41. W. R. Berkley Co. has a fifty-two week low of $55.50 and a fifty-two week high of $89.18. The firm has a market cap of $19.66 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.45 and a beta of 0.57. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.38.

W. R. Berkley (NYSE:WRB) last issued its quarterly earnings results on Tuesday, April 23rd. The insurance provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.77 billion. W. R. Berkley had a return on equity of 21.01% and a net margin of 12.23%. The business’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 EPS. On average, sell-side analysts forecast that W. R. Berkley Co. will post 5.87 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 13th. Shareholders of record on Monday, March 4th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.57%. W. R. Berkley’s dividend payout ratio (DPR) is 7.80%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WRB. BMO Capital Markets lowered their price target on shares of W. R. Berkley from $93.00 to $87.00 and set a “market perform” rating for the company in a report on Wednesday. StockNews.com upgraded W. R. Berkley from a “hold” rating to a “buy” rating in a research note on Thursday. Evercore ISI boosted their price target on W. R. Berkley from $83.00 to $89.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. The Goldman Sachs Group increased their price target on W. R. Berkley from $86.00 to $95.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, UBS Group lifted their price objective on W. R. Berkley from $81.00 to $93.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.63.

W. R. Berkley Company Profile

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.