Elo Mutual Pension Insurance Co Increases Stock Holdings in W.R. Berkley Corporation $WRB

Elo Mutual Pension Insurance Co boosted its stake in W.R. Berkley Corporation (NYSE:WRB) by 61.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 40,791 shares of the insurance provider’s stock after buying an additional 15,595 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in W.R. Berkley were worth $3,125,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Compass Financial Services Inc bought a new stake in shares of W.R. Berkley in the 3rd quarter worth $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in W.R. Berkley during the second quarter worth about $27,000. Elevation Point Wealth Partners LLC bought a new stake in W.R. Berkley in the 2nd quarter worth about $34,000. Physician Wealth Advisors Inc. grew its position in W.R. Berkley by 40.2% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 523 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 150 shares in the last quarter. Finally, Westside Investment Management Inc. increased its stake in W.R. Berkley by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 528 shares of the insurance provider’s stock valued at $40,000 after buying an additional 264 shares during the last quarter. 68.82% of the stock is currently owned by institutional investors.

W.R. Berkley Stock Performance

Shares of WRB opened at $72.68 on Wednesday. W.R. Berkley Corporation has a 1 year low of $60.68 and a 1 year high of $78.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.37 and a quick ratio of 0.37. The stock’s fifty day moving average price is $69.74 and its two-hundred day moving average price is $72.25. The firm has a market cap of $27.22 billion, a PE ratio of 16.33, a PEG ratio of 3.07 and a beta of 0.35.

W.R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Monday, January 26th. The insurance provider reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.01). The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.18 billion. W.R. Berkley had a return on equity of 18.35% and a net margin of 12.10%.The company’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.13 EPS. On average, equities research analysts forecast that W.R. Berkley Corporation will post 4.33 EPS for the current year.

W.R. Berkley Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be given a $0.09 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. W.R. Berkley’s payout ratio is 8.09%.

Insider Activity at W.R. Berkley

In other W.R. Berkley news, major shareholder Sumitomo Insurance Co L. Mitsui acquired 112,176 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was bought at an average cost of $72.20 per share, with a total value of $8,099,107.20. Following the acquisition, the insider owned 58,780,450 shares in the company, valued at approximately $4,243,948,490. This represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have purchased 9,933,862 shares of company stock worth $688,134,108. Corporate insiders own 23.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Truist Financial set a $80.00 target price on W.R. Berkley and gave the company a “buy” rating in a report on Tuesday, January 27th. The Goldman Sachs Group reissued a “neutral” rating and issued a $73.00 price objective on shares of W.R. Berkley in a research report on Wednesday, January 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $75.00 target price (down from $76.00) on shares of W.R. Berkley in a research report on Monday, February 2nd. Barclays reiterated an “underweight” rating and set a $64.00 target price (down from $73.00) on shares of W.R. Berkley in a research note on Thursday, January 8th. Finally, Bank of America reduced their price target on shares of W.R. Berkley from $69.00 to $66.00 and set a “neutral” rating for the company in a research report on Tuesday, January 27th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $69.67.

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.