W.R. Berkley Corporation $WRB Shares Sold by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC lessened its stake in shares of W.R. Berkley Corporation (NYSE:WRB) by 68.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 4,708 shares of the insurance provider’s stock after selling 10,424 shares during the period. Impact Partnership Wealth LLC’s holdings in W.R. Berkley were worth $312,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Mitsui Sumitomo Insurance Co. Ltd. acquired a new stake in shares of W.R. Berkley during the fourth quarter worth $3,542,919,000. Jefferies Financial Group Inc. acquired a new position in shares of W.R. Berkley in the 3rd quarter valued at $682,816,000. Norges Bank purchased a new position in W.R. Berkley in the 4th quarter worth about $435,752,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in W.R. Berkley by 35,572.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,219,902 shares of the insurance provider’s stock worth $155,660,000 after purchasing an additional 2,213,679 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in W.R. Berkley by 33.4% during the 3rd quarter. Invesco Ltd. now owns 4,892,799 shares of the insurance provider’s stock worth $374,886,000 after buying an additional 1,224,363 shares during the period. 68.82% of the stock is owned by institutional investors.

W.R. Berkley Trading Up 2.0%

NYSE:WRB opened at $72.09 on Friday. The stock has a market cap of $26.84 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 3.34 and a beta of 0.29. W.R. Berkley Corporation has a fifty-two week low of $62.87 and a fifty-two week high of $78.96. 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 $67.43 and its two-hundred day moving average is $68.20.

W.R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Tuesday, April 21st. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.17. W.R. Berkley had a net margin of 12.64% and a return on equity of 18.92%. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts forecast that W.R. Berkley Corporation will post 4.67 earnings per share for the current fiscal year.

W.R. Berkley Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 23rd were paid a dividend of $0.10 per share. This is an increase from W.R. Berkley’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. W.R. Berkley’s dividend payout ratio (DPR) is 8.47%.

Analyst Ratings Changes

A number of analysts have commented on WRB shares. Keefe, Bruyette & Woods reduced their price objective on shares of W.R. Berkley from $74.00 to $66.00 and set a “market perform” rating for the company in a research note on Wednesday, April 1st. Wolfe Research downgraded shares of W.R. Berkley from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Truist Financial decreased their price objective on shares of W.R. Berkley from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. UBS Group set a $68.00 price objective on shares of W.R. Berkley and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Brean Capital downgraded shares of W.R. Berkley from a “buy” rating to a “neutral” rating and set a $73.00 target price on the stock. in a research note on Wednesday, March 25th. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $68.31.

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.