Resources Management Corp CT ADV Invests $2.37 Million in W.R. Berkley Corporation $WRB

Resources Management Corp CT ADV purchased a new position in W.R. Berkley Corporation (NYSE:WRB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 33,722 shares of the insurance provider’s stock, valued at approximately $2,365,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jefferies Financial Group Inc. purchased a new position in W.R. Berkley during the third quarter valued at $682,816,000. Norges Bank bought a new stake in W.R. Berkley during the fourth quarter valued at about $435,752,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in W.R. Berkley by 35,572.5% during the fourth 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 valued at $155,660,000 after acquiring an additional 2,213,679 shares during the period. Invesco Ltd. raised its holdings in W.R. Berkley by 33.4% during the third quarter. Invesco Ltd. now owns 4,892,799 shares of the insurance provider’s stock valued at $374,886,000 after acquiring an additional 1,224,363 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of W.R. Berkley by 70.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,754,383 shares of the insurance provider’s stock worth $193,137,000 after purchasing an additional 1,140,349 shares during the last quarter. 68.82% of the stock is currently owned by hedge funds and other institutional investors.

W.R. Berkley Trading Down 0.2%

WRB opened at $68.15 on Monday. 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 company’s 50 day simple moving average is $66.60 and its two-hundred day simple moving average is $68.45. W.R. Berkley Corporation has a 1-year low of $62.87 and a 1-year high of $78.96. The firm has a market capitalization of $25.37 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 3.23 and a beta of 0.30.

W.R. Berkley (NYSE:WRB) last announced 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. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.18 billion. W.R. Berkley had a net margin of 12.64% and a return on equity of 18.92%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 EPS. Analysts expect that W.R. Berkley Corporation will post 4.67 EPS for the current fiscal year.

W.R. Berkley Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 23rd will be issued a $0.10 dividend. This is a boost from W.R. Berkley’s previous quarterly dividend of $0.09. The ex-dividend date is Tuesday, June 23rd. This represents a $0.40 annualized dividend and a yield of 0.6%. W.R. Berkley’s payout ratio is 7.63%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Evercore reaffirmed an “underperform” rating on shares of W.R. Berkley in a report on Monday, March 9th. Brean Capital lowered W.R. Berkley from a “buy” rating to a “neutral” rating and set a $73.00 target price for the company. in a research report on Wednesday, March 25th. Truist Financial lowered their price target on W.R. Berkley from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, April 22nd. The Goldman Sachs Group upgraded W.R. Berkley from a “neutral” rating to a “buy” rating and boosted their price target for the company from $71.00 to $73.00 in a report on Monday, June 8th. Finally, Morgan Stanley lowered their price target on W.R. Berkley from $73.00 to $72.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Three research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, W.R. Berkley currently has a consensus rating of “Reduce” and a consensus price target of $68.31.

About W.R. Berkley

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.