Independent Advisor Alliance Boosts Holdings in W. R. Berkley Co. (NYSE:WRB)

by · The Markets Daily

Independent Advisor Alliance raised its holdings in shares of W. R. Berkley Co. (NYSE:WRB – Free Report) by 46.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 62,719 shares of the insurance provider’s stock after purchasing an additional 19,753 shares during the period. Independent Advisor Alliance’s holdings in W. R. Berkley were worth $3,558,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in W. R. Berkley during the 2nd quarter valued at about $42,000. Kiely Wealth Advisory Group Inc. grew its holdings in shares of W. R. Berkley by 49.9% during the second quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock worth $46,000 after buying an additional 193 shares in the last quarter. Armstrong Advisory Group Inc. grew its holdings in shares of W. R. Berkley by 51.0% during the third quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider’s stock worth $35,000 after buying an additional 209 shares in the last quarter. PFS Partners LLC grew its holdings in shares of W. R. Berkley by 51.1% during the third quarter. PFS Partners LLC now owns 719 shares of the insurance provider’s stock worth $41,000 after buying an additional 243 shares in the last quarter. Finally, Mascoma Wealth Management LLC purchased a new stake in shares of W. R. Berkley during the second quarter worth about $62,000. 68.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered their price target on shares of W. R. Berkley from $59.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday, October 22nd. Evercore ISI lifted their price target on shares of W. R. Berkley from $57.00 to $60.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Truist Financial raised their target price on shares of W. R. Berkley from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Royal Bank of Canada raised their target price on shares of W. R. Berkley from $57.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 22nd. Finally, Bank of America raised their target price on shares of W. R. Berkley from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $64.22.

Get Our Latest Research Report on W. R. Berkley

W. R. Berkley Trading Up 1.3 %

Shares of WRB stock opened at $63.06 on Tuesday. The stock has a market cap of $24.03 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.20 and a beta of 0.62. 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 Co. has a fifty-two week low of $45.75 and a fifty-two week high of $63.46. The firm’s 50 day moving average price is $58.85 and its two-hundred day moving average price is $56.60.

W. R. Berkley (NYSE:WRB – Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The insurance provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.93 billion. W. R. Berkley had a net margin of 11.96% and a return on equity of 20.41%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 earnings per share. On average, analysts anticipate that W. R. Berkley Co. will post 3.94 EPS for the current year.

W. R. Berkley Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.51%. W. R. Berkley’s dividend payout ratio is currently 8.20%.

W. R. Berkley Company Profile

(Free Report)

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).