Hutchens & Kramer Investment Management Group LLC Lowers Stock Holdings in W.R. Berkley Corporation $WRB

Hutchens & Kramer Investment Management Group LLC reduced its position in shares of W.R. Berkley Corporation (NYSE:WRB) by 32.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,467 shares of the insurance provider’s stock after selling 1,700 shares during the period. Hutchens & Kramer Investment Management Group LLC’s holdings in W.R. Berkley were worth $253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Baird Financial Group Inc. boosted its position in shares of W.R. Berkley by 1.8% during the first quarter. Baird Financial Group Inc. now owns 7,997 shares of the insurance provider’s stock worth $569,000 after buying an additional 141 shares during the period. Parallel Advisors LLC boosted its position in shares of W.R. Berkley by 4.7% during the second quarter. Parallel Advisors LLC now owns 3,616 shares of the insurance provider’s stock worth $266,000 after buying an additional 161 shares during the period. Bleakley Financial Group LLC boosted its position in shares of W.R. Berkley by 0.7% during the first quarter. Bleakley Financial Group LLC now owns 23,237 shares of the insurance provider’s stock worth $1,654,000 after buying an additional 162 shares during the period. Brooklyn Investment Group boosted its holdings in W.R. Berkley by 19.0% in the first quarter. Brooklyn Investment Group now owns 1,013 shares of the insurance provider’s stock valued at $72,000 after purchasing an additional 162 shares during the period. Finally, Checchi Capital Advisers LLC boosted its holdings in W.R. Berkley by 4.0% in the second quarter. Checchi Capital Advisers LLC now owns 4,334 shares of the insurance provider’s stock valued at $318,000 after purchasing an additional 165 shares during the period. 68.82% of the stock is currently owned by hedge funds and other institutional investors.

W.R. Berkley Stock Down 0.1%

Shares of NYSE WRB opened at $71.45 on Monday. The company has a market capitalization of $27.10 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 2.73 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.37 and a quick ratio of 0.37. The business has a 50-day moving average of $74.07 and a two-hundred day moving average of $72.37. W.R. Berkley Corporation has a 1 year low of $55.97 and a 1 year high of $78.48.

W.R. Berkley (NYSE:WRB) last announced its quarterly earnings results on Monday, October 20th. The insurance provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.16 billion. W.R. Berkley had a return on equity of 19.35% and a net margin of 13.01%.W.R. Berkley’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.93 EPS. On average, analysts forecast that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a dividend of $0.09 per share. The ex-dividend date was Monday, September 22nd. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. W.R. Berkley’s payout ratio is 7.56%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WRB shares. Wolfe Research started coverage on W.R. Berkley in a report on Monday, September 15th. They issued a “peer perform” rating for the company. Cantor Fitzgerald set a $78.00 target price on W.R. Berkley in a report on Monday, October 27th. Jefferies Financial Group decreased their target price on W.R. Berkley from $76.00 to $75.00 and set a “hold” rating for the company in a report on Tuesday, October 21st. Wells Fargo & Company set a $66.00 target price on W.R. Berkley and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Finally, Truist Financial set a $84.00 target price on W.R. Berkley and gave the company a “buy” rating in a report on Tuesday, October 21st. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, W.R. Berkley has a consensus rating of “Hold” and an average target price of $74.46.

W.R. Berkley Company Profile

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writers worldwide. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines, and specialty personal lines.