W.R. Berkley Corporation $WRB Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its stake in shares of W.R. Berkley Corporation (NYSE:WRB) by 9.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,596 shares of the insurance provider’s stock after acquiring an additional 300 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in W.R. Berkley were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Hilltop National Bank acquired a new stake in W.R. Berkley during the 2nd quarter worth approximately $27,000. Spectrum Wealth Counsel LLC purchased a new position in shares of W.R. Berkley during the 1st quarter worth approximately $29,000. Garde Capital Inc. purchased a new position in shares of W.R. Berkley during the 1st quarter worth approximately $30,000. N.E.W. Advisory Services LLC purchased a new position in shares of W.R. Berkley during the 1st quarter worth approximately $36,000. Finally, Keystone Global Partners LLC purchased a new position in shares of W.R. Berkley during the 1st quarter worth approximately $41,000. 68.82% of the stock is owned by institutional investors and hedge funds.

W.R. Berkley Stock Performance

NYSE WRB opened at $73.96 on Monday. W.R. Berkley Corporation has a 1-year low of $55.97 and a 1-year high of $78.48. The company has a market capitalization of $28.05 billion, a P/E ratio of 16.85, a PEG ratio of 2.55 and a beta of 0.42. The business has a 50 day moving average price of $73.61 and a 200 day moving average price of $71.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.37 and a quick ratio of 0.37.

W.R. Berkley (NYSE:WRB) last released its quarterly earnings data on Monday, July 21st. The insurance provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. W.R. Berkley had a return on equity of 18.83% and a net margin of 12.32%.The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the business posted $1.04 EPS. Sell-side analysts expect that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.

W.R. Berkley Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, September 22nd. W.R. Berkley’s dividend payout ratio (DPR) is presently 8.20%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WRB shares. UBS Group set a $87.00 target price on W.R. Berkley and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Wolfe Research started coverage on W.R. Berkley in a research note on Monday, September 15th. They set a “peer perform” rating for the company. Weiss Ratings reissued a “buy (b)” rating on shares of W.R. Berkley in a research note on Wednesday, October 8th. Barclays reissued an “underweight” rating and set a $73.00 target price on shares of W.R. Berkley in a research note on Wednesday, October 8th. Finally, TD Cowen downgraded W.R. Berkley from a “buy” rating to a “hold” rating and set a $78.00 target price for the company. in a research note on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.69.

About W.R. Berkley

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.