Resonant Capital Advisors LLC Sells 10,553 Shares of W.R. Berkley Corporation $WRB

Resonant Capital Advisors LLC trimmed its position in W.R. Berkley Corporation (NYSE:WRB) by 55.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,525 shares of the insurance provider’s stock after selling 10,553 shares during the period. Resonant Capital Advisors LLC’s holdings in W.R. Berkley were worth $565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Johnson Financial Group Inc. increased its stake 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 purchasing an additional 138 shares in the last quarter. Inspire Advisors LLC grew its holdings in shares of W.R. Berkley by 1.0% in the 4th quarter. Inspire Advisors LLC now owns 14,364 shares of the insurance provider’s stock valued at $1,007,000 after buying an additional 144 shares during the period. Allworth Financial LP increased its position in shares of W.R. Berkley by 4.8% in the 3rd quarter. Allworth Financial LP now owns 3,328 shares of the insurance provider’s stock valued at $255,000 after buying an additional 153 shares in the last quarter. Coastal Bridge Advisors LLC raised its stake in W.R. Berkley by 1.5% during the 4th quarter. Coastal Bridge Advisors LLC now owns 10,277 shares of the insurance provider’s stock worth $721,000 after buying an additional 154 shares during the period. Finally, Accurate Wealth Management LLC raised its stake in W.R. Berkley by 5.2% during the 4th quarter. Accurate Wealth Management LLC now owns 3,173 shares of the insurance provider’s stock worth $217,000 after buying an additional 157 shares during the period. Institutional investors own 68.82% of the company’s stock.

W.R. Berkley Price Performance

Shares of WRB opened at $71.54 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.29. W.R. Berkley Corporation has a twelve month low of $62.87 and a twelve month high of $78.96. The stock has a market capitalization of $26.63 billion, a P/E ratio of 15.16, a P/E/G ratio of 3.35 and a beta of 0.29. The company has a 50 day moving average of $67.67 and a 200-day moving average of $68.25.

W.R. Berkley (NYSE:WRB) last announced its quarterly earnings data 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 business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.18 billion. W.R. Berkley had a net margin of 12.64% and a return on equity of 18.92%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share. As a group, equities research analysts forecast that W.R. Berkley Corporation will post 4.67 EPS for the current fiscal year.

W.R. Berkley Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 23rd were given a dividend of $0.10 per share. This is a boost 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 annualized dividend and a yield of 0.6%. W.R. Berkley’s payout ratio is presently 8.47%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wall Street Zen raised W.R. Berkley from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings cut W.R. Berkley from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 20th. Bank of America decreased their price objective on W.R. Berkley from $68.00 to $67.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. BMO Capital Markets raised W.R. Berkley from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $64.00 to $68.00 in a research note on Thursday, April 23rd. Finally, UBS Group set a $68.00 target price on shares of W.R. Berkley and gave the stock a “neutral” rating in a report on Monday, April 27th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, W.R. Berkley presently has an average rating of “Reduce” and an average price target of $68.50.

W.R. Berkley Company 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.