Corient Private Wealth LLC Sells 364,391 Shares of W.R. Berkley Corporation $WRB

Corient Private Wealth LLC decreased its position in shares of W.R. Berkley Corporation (NYSE:WRB) by 72.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,335 shares of the insurance provider’s stock after selling 364,391 shares during the quarter. Corient Private Wealth LLC’s holdings in W.R. Berkley were worth $9,573,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of WRB. Hsbc Holdings PLC increased its holdings in W.R. Berkley by 104.1% in the 4th quarter. Hsbc Holdings PLC now owns 1,735,958 shares of the insurance provider’s stock worth $121,934,000 after purchasing an additional 885,417 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of W.R. Berkley by 47.3% during the fourth quarter. Pacer Advisors Inc. now owns 35,525 shares of the insurance provider’s stock worth $2,491,000 after purchasing an additional 11,400 shares during the last quarter. Dean Capital Management increased its stake in shares of W.R. Berkley by 3.2% in the fourth quarter. Dean Capital Management now owns 33,170 shares of the insurance provider’s stock valued at $2,326,000 after buying an additional 1,013 shares during the period. Mcguire Capital Advisors Inc. acquired a new position in shares of W.R. Berkley in the fourth quarter valued at approximately $88,000. Finally, Hamilton Wealth LLC raised its holdings in W.R. Berkley by 18.2% in the 4th quarter. Hamilton Wealth LLC now owns 3,890 shares of the insurance provider’s stock valued at $273,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 68.82% of the company’s stock.

W.R. Berkley Stock Performance

Shares of W.R. Berkley stock opened at $70.12 on Thursday. W.R. Berkley Corporation has a one year low of $62.87 and a one year high of $78.96. The firm has a market capitalization of $26.11 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 3.26 and a beta of 0.30. The business has a 50-day simple moving average of $66.87 and a 200 day simple moving average of $68.07. 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 (NYSE:WRB) last announced its quarterly earnings results on Tuesday, April 21st. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the prior year, the company earned $1.01 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. On average, research analysts anticipate that W.R. Berkley Corporation will post 4.67 earnings per share for the current fiscal year.

W.R. Berkley Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This is a positive change from W.R. Berkley’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. W.R. Berkley’s payout ratio is currently 8.47%.

Analysts Set New Price Targets

WRB has been the topic of several recent research reports. Wall Street Zen upgraded shares of W.R. Berkley from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Truist Financial dropped their price target on shares of W.R. Berkley from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Cantor Fitzgerald lowered shares of W.R. Berkley from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $75.00 to $71.00 in a report on Thursday, April 9th. Bank of America reduced their price objective on shares of W.R. Berkley from $68.00 to $67.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Finally, Wells Fargo & Company downgraded W.R. Berkley from an “overweight” rating to an “underweight” rating and decreased their price objective for the company from $64.00 to $58.00 in a report on Monday, June 8th. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $68.31.

W.R. Berkley Company 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.