Global Retirement Partners LLC Purchases 10,009 Shares of W.R. Berkley Corporation $WRB

Global Retirement Partners LLC boosted its position in W.R. Berkley Corporation (NYSE:WRB) by 1,200.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 10,843 shares of the insurance provider’s stock after buying an additional 10,009 shares during the quarter. Global Retirement Partners LLC’s holdings in W.R. Berkley were worth $760,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Johnson Financial Group Inc. boosted its holdings in W.R. Berkley by 22.3% in the third quarter. Johnson Financial Group Inc. now owns 756 shares of the insurance provider’s stock valued at $58,000 after acquiring an additional 138 shares during the last quarter. Maridea Wealth Management LLC boosted its holdings in W.R. Berkley by 2.0% during the third quarter. Maridea Wealth Management LLC now owns 7,180 shares of the insurance provider’s stock worth $528,000 after buying an additional 141 shares during the last quarter. Physician Wealth Advisors Inc. boosted its holdings in W.R. Berkley by 40.2% during the third quarter. Physician Wealth Advisors Inc. now owns 523 shares of the insurance provider’s stock worth $40,000 after buying an additional 150 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in W.R. Berkley by 3.3% during the third quarter. Valeo Financial Advisors LLC now owns 4,788 shares of the insurance provider’s stock worth $367,000 after buying an additional 151 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in W.R. Berkley by 4.8% during the third quarter. Allworth Financial LP now owns 3,328 shares of the insurance provider’s stock worth $255,000 after buying an additional 153 shares during the last quarter. Institutional investors own 68.82% of the company’s stock.

Analysts Set New Price Targets

WRB has been the topic of a number of recent analyst reports. Weiss Ratings cut W.R. Berkley from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 20th. Morgan Stanley reduced their target price on W.R. Berkley from $73.00 to $72.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Jefferies Financial Group reduced their target price on W.R. Berkley from $75.00 to $70.00 and set a “hold” rating on the stock in a report on Tuesday, January 27th. Argus cut W.R. Berkley from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Wells Fargo & Company reduced their target price on W.R. Berkley from $66.00 to $64.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $68.81.

W.R. Berkley Trading Down 0.2%

NYSE WRB opened at $67.39 on Wednesday. The firm has a market cap of $25.09 billion, a P/E ratio of 14.28, a P/E/G ratio of 3.20 and a beta of 0.33. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.36 and a quick ratio of 0.36. The stock’s 50-day moving average is $66.57 and its 200-day moving average is $69.41. W.R. Berkley Corporation has a one year low of $63.67 and a one year high of $78.96.

W.R. Berkley (NYSE:WRB) last released its quarterly earnings results on Tuesday, April 21st. The insurance provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.17. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.18 billion. W.R. Berkley had a return on equity of 18.92% and a net margin of 12.64%.W.R. Berkley’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. Sell-side analysts anticipate that W.R. Berkley Corporation will post 4.66 earnings per share for the current fiscal year.

Insider Activity at W.R. Berkley

In other W.R. Berkley news, major shareholder Sumitomo Insurance Co L. Mitsui purchased 112,176 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were bought at an average price of $72.20 per share, with a total value of $8,099,107.20. Following the completion of the transaction, the insider directly owned 58,780,450 shares in the company, valued at $4,243,948,490. This trade represents a 0.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 558,176 shares of company stock worth $40,240,547 over the last quarter. Company insiders own 23.00% of the company’s stock.

W.R. Berkley Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.