W.R. Berkley Corporation $WRB Stock Holdings Reduced by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC reduced its position in W.R. Berkley Corporation (NYSE:WRB) by 68.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Stance Capital LLC lifted its stake in shares of W.R. Berkley by 376.1% in the 3rd quarter. Stance Capital LLC now owns 48,119 shares of the insurance provider’s stock valued at $3,687,000 after purchasing an additional 38,013 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new position in W.R. Berkley during the fourth quarter worth $2,801,000. Generali Asset Management SPA SGR acquired a new position in W.R. Berkley during the fourth quarter worth $1,630,000. Eagle Rock Investment Company LLC raised its holdings in W.R. Berkley by 18.8% during the fourth quarter. Eagle Rock Investment Company LLC now owns 118,876 shares of the insurance provider’s stock valued at $8,336,000 after buying an additional 18,820 shares in the last quarter. Finally, Citadel Investment Advisory Inc. raised its holdings in W.R. Berkley by 105.4% during the fourth quarter. Citadel Investment Advisory Inc. now owns 29,693 shares of the insurance provider’s stock valued at $2,082,000 after buying an additional 15,240 shares in the last quarter. 68.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their price target on 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 W.R. Berkley from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Evercore restated an “underperform” rating on shares of W.R. Berkley in a report on Monday, March 9th. Weiss Ratings cut W.R. Berkley from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 20th. Finally, The Goldman Sachs Group upgraded W.R. Berkley from a “neutral” rating to a “buy” rating and increased their price target for the company from $71.00 to $73.00 in a report on Monday, June 8th. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $68.31.

W.R. Berkley Stock Up 2.0%

W.R. Berkley stock opened at $72.09 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.36 and a quick ratio of 0.36. W.R. Berkley Corporation has a fifty-two week low of $62.87 and a fifty-two week high of $78.96. The firm has a fifty day moving average price of $67.43 and a two-hundred day moving average price of $68.20. The firm has a market cap of $26.84 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 3.34 and a beta of 0.29.

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

W.R. Berkley Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 23rd were issued a $0.10 dividend. 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 yield of 0.6%. W.R. Berkley’s payout ratio is 8.47%.

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.