Los Angeles Capital Management LLC Has $27.07 Million Position in W. R. Berkley Co. (NYSE:WRB)

Los Angeles Capital Management LLC lifted its holdings in shares of W. R. Berkley Co. (NYSE:WRBGet Rating) by 53.1% during the first quarter, HoldingsChannel reports. The firm owned 406,585 shares of the insurance provider’s stock after acquiring an additional 141,051 shares during the quarter. Los Angeles Capital Management LLC’s holdings in W. R. Berkley were worth $27,074,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Clearstead Advisors LLC raised its position in W. R. Berkley by 826.0% in the 1st quarter. Clearstead Advisors LLC now owns 463 shares of the insurance provider’s stock valued at $31,000 after buying an additional 413 shares during the last quarter. Washington Trust Advisors Inc. raised its position in W. R. Berkley by 1,025.6% in the 1st quarter. Washington Trust Advisors Inc. now owns 484 shares of the insurance provider’s stock valued at $32,000 after buying an additional 441 shares during the last quarter. Gemmer Asset Management LLC raised its position in W. R. Berkley by 49.9% in the 1st quarter. Gemmer Asset Management LLC now owns 532 shares of the insurance provider’s stock valued at $35,000 after buying an additional 177 shares during the last quarter. Covestor Ltd acquired a new stake in W. R. Berkley in the 4th quarter valued at approximately $36,000. Finally, Clearview Wealth Advisors LLC increased its position in shares of W. R. Berkley by 49.7% during the 1st quarter. Clearview Wealth Advisors LLC now owns 533 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 177 shares during the last quarter. Institutional investors and hedge funds own 49.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. StockNews.com lowered W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. Truist Financial boosted their price target on W. R. Berkley from $73.33 to $83.00 in a research report on Tuesday, April 26th. Wells Fargo & Company boosted their price target on W. R. Berkley to $83.00 in a research report on Friday, July 22nd. Morgan Stanley lifted their target price on W. R. Berkley from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Monday, May 23rd. Finally, Jefferies Financial Group lifted their target price on W. R. Berkley from $67.00 to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 12th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, W. R. Berkley has a consensus rating of “Moderate Buy” and an average target price of $70.03.

W. R. Berkley Stock Performance

WRB opened at $61.83 on Friday. The business has a fifty day simple moving average of $66.45 and a 200 day simple moving average of $64.98. The company has a market capitalization of $16.40 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 1.70 and a beta of 0.65. W. R. Berkley Co. has a 1 year low of $47.13 and a 1 year high of $72.32. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.39 and a quick ratio of 0.49.

W. R. Berkley (NYSE:WRBGet Rating) last released its quarterly earnings results on Thursday, July 21st. The insurance provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.28. The business had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.56 billion. W. R. Berkley had a return on equity of 17.26% and a net margin of 12.71%. During the same period in the previous year, the company posted $0.78 EPS. Research analysts expect that W. R. Berkley Co. will post 4.06 EPS for the current year.

W. R. Berkley Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 7th. Investors of record on Monday, June 27th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 24th. This is an increase from W. R. Berkley’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.65%. W. R. Berkley’s payout ratio is 8.42%.

Insider Activity at W. R. Berkley

In related news, Director Mark Ellwood Brockbank acquired 1,434 shares of the company’s stock in a transaction on Monday, August 1st. The stock was purchased at an average cost of $61.85 per share, with a total value of $88,692.90. Following the acquisition, the director now directly owns 6,000 shares of the company’s stock, valued at $371,100. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 22.30% of the stock is currently owned by corporate insiders.

W. R. Berkley Profile

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W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and general and professional liability lines.

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Institutional Ownership by Quarter for W. R. Berkley (NYSE:WRB)

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