Vise Technologies Inc. Makes New Investment in W.R. Berkley Corporation $WRB

Vise Technologies Inc. purchased a new stake in shares of W.R. Berkley Corporation (NYSE:WRB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 27,062 shares of the insurance provider’s stock, valued at approximately $1,828,000.

Several other institutional investors have also modified their holdings of WRB. Allied Private Wealth LLC acquired a new position in W.R. Berkley during the second quarter worth about $29,000. IFP Advisors Inc lifted its holdings in W.R. Berkley by 44.7% in the 2nd quarter. IFP Advisors Inc now owns 466 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 144 shares during the last quarter. Security National Bank of SO Dak acquired a new stake in W.R. Berkley in the 2nd quarter valued at about $45,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of W.R. Berkley in the 2nd quarter worth approximately $49,000. Finally, Western Wealth Management LLC bought a new stake in shares of W.R. Berkley in the 1st quarter worth approximately $177,000. Institutional investors and hedge funds own 68.82% of the company’s stock.

W.R. Berkley Stock Down 2.3%

NYSE:WRB traded down $1.76 on Friday, hitting $75.22. 1,851,120 shares of the company’s stock traded hands, compared to its average volume of 2,366,465. The company has a market cap of $27.93 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.93 and a beta of 0.23. W.R. Berkley Corporation has a 1 year low of $62.87 and a 1 year high of $79.26. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $71.19 and a 200-day moving average price of $69.43.

W.R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Monday, October 19th. The insurance provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.15 by $0.02. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.82 billion. W.R. Berkley had a net margin of 12.53% and a return on equity of 19.63%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period last year, the company posted $1.10 earnings per share. Equities analysts anticipate that W.R. Berkley Corporation will post 4.91 EPS for the current fiscal year.

W.R. Berkley Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. W.R. Berkley’s dividend payout ratio is currently 8.46%.

Analysts Set New Price Targets

Several research firms have issued reports on WRB. Weiss Ratings upgraded shares of W.R. Berkley from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Mizuho upped their target price on W.R. Berkley from $70.00 to $73.00 and gave the company a “neutral” rating in a report on Tuesday, October 20th. Evercore reiterated an “underperform” rating and issued a $68.00 price target on shares of W.R. Berkley in a research report on Friday, July 10th. UBS Group reissued a “neutral” rating and issued a $79.00 price target on shares of W.R. Berkley in a research note on Monday, October 26th. Finally, Truist Financial upped their price objective on shares of W.R. Berkley from $78.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $70.56.

W.R. Berkley Profile

W.R. Berkley Corporation is an insurance holding company that provides commercial property and casualty insurance, reinsurance, and related services. Its offerings include coverage for businesses and professionals across areas such as property, casualty, workers’ compensation, transportation, and specialty risks.

Founded in 1967 by William R. Berkley, the company operates through a group of insurance businesses with expertise in specific markets and customer needs. Its operations serve customers in the United States and select international markets.

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