Confluence Investment Management LLC decreased its holdings in shares of W. R. Berkley Corp (NYSE:WRB) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 456,293 shares of the insurance provider’s stock after selling 8,589 shares during the period. Confluence Investment Management LLC owned approximately 0.25% of W. R. Berkley worth $38,657,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. M&T Bank Corp lifted its position in W. R. Berkley by 1.4% in the fourth quarter. M&T Bank Corp now owns 10,608 shares of the insurance provider’s stock valued at $785,000 after purchasing an additional 144 shares during the period. Visionary Asset Management Inc. lifted its position in W. R. Berkley by 4.2% in the fourth quarter. Visionary Asset Management Inc. now owns 3,671 shares of the insurance provider’s stock valued at $271,000 after purchasing an additional 148 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in W. R. Berkley by 0.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 27,584 shares of the insurance provider’s stock valued at $2,039,000 after purchasing an additional 151 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in W. R. Berkley by 4.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 4,071 shares of the insurance provider’s stock valued at $301,000 after purchasing an additional 186 shares during the period. Finally, Louisiana State Employees Retirement System lifted its position in W. R. Berkley by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 25,800 shares of the insurance provider’s stock valued at $2,186,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 72.63% of the company’s stock.
Shares of WRB stock traded up $0.29 during midday trading on Tuesday, reaching $58.16. 5,586 shares of the company traded hands, compared to its average volume of 435,250. W. R. Berkley Corp has a 1-year low of $45.91 and a 1-year high of $58.05. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.51. The company has a market cap of $10.61 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 2.52 and a beta of 0.75.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Thursday, March 14th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.69%. W. R. Berkley’s dividend payout ratio (DPR) is 14.98%.
A number of equities research analysts recently commented on WRB shares. Morgan Stanley reduced their price objective on shares of W. R. Berkley from $49.33 to $48.67 and set an “equal weight” rating for the company in a research report on Thursday, January 3rd. Credit Suisse Group upgraded shares of W. R. Berkley from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $51.67 to $58.67 in a research report on Wednesday, February 27th. Zacks Investment Research downgraded shares of W. R. Berkley from a “hold” rating to a “sell” rating in a research report on Monday, January 14th. Finally, ValuEngine downgraded shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $52.93.
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W. R. Berkley Profile
W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and professional liability lines.
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