W.R. Berkley Corporation $WRB Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd decreased its holdings in W.R. Berkley Corporation (NYSE:WRB) by 9.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 81,828 shares of the insurance provider’s stock after selling 8,265 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in W.R. Berkley were worth $5,424,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WRB. Entrust Financial LLC acquired a new stake in shares of W.R. Berkley in the fourth quarter worth $25,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of W.R. Berkley by 140.0% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 210 shares in the last quarter. DV Equities LLC acquired a new position in shares of W.R. Berkley during the 4th quarter valued at $29,000. Triumph Capital Management purchased a new stake in W.R. Berkley during the 3rd quarter worth $35,000. Finally, Quarry LP purchased a new stake in W.R. Berkley during the 4th quarter worth $39,000. 68.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on WRB. BMO Capital Markets raised W.R. Berkley from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $64.00 to $68.00 in a research report on Thursday, April 23rd. Truist Financial upped their target price on W.R. Berkley from $78.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Morgan Stanley increased their target price on W.R. Berkley from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Wolfe Research downgraded W.R. Berkley from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $74.00 price target (up from $70.00) on shares of W.R. Berkley in a report on Thursday, July 9th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $70.44.

W.R. Berkley Stock Performance

NYSE:WRB opened at $75.48 on Friday. The firm has a 50-day moving average of $69.20 and a two-hundred day moving average of $68.45. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.36 and a quick ratio of 0.36. The stock has a market cap of $28.10 billion, a P/E ratio of 15.50, a PEG ratio of 3.51 and a beta of 0.29. W.R. Berkley Corporation has a 1-year low of $62.87 and a 1-year high of $78.96.

W.R. Berkley (NYSE:WRB) last announced its earnings results on Monday, July 20th. The insurance provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.19. W.R. Berkley had a return on equity of 19.49% and a net margin of 12.94%.The business had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the previous year, the company earned $1.05 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts expect that W.R. Berkley Corporation will post 4.75 earnings per share for the current fiscal year.

W.R. Berkley Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 23rd were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.40 annualized dividend and a yield of 0.5%. This is a boost from W.R. Berkley’s previous quarterly dividend of $0.09. W.R. Berkley’s dividend payout ratio (DPR) is presently 8.21%.

W.R. Berkley News Summary

Here are the key news stories impacting W.R. Berkley this week:

• Positive Sentiment: WRB is being highlighted as a top long-term momentum stock, with coverage pointing to strong style scores and market-beating characteristics that can support investor demand. Article Title
• Positive Sentiment: Analysts and market commentary are reacting favorably to W.R. Berkley’s Q2 results, with reports saying the earnings beat and ongoing share buybacks are reinforcing the bull case and leading some firms to raise price targets. Article Title
• Positive Sentiment: WRB is also being described as a strong value stock and a portfolio “ballast,” which may appeal to investors looking for quality, defensive exposure in property and casualty insurance. Article Title
• Neutral Sentiment: One report compares W.R. Berkley with Allstate on value metrics, which is more of a relative-stock-selection piece than a clear catalyst for the shares. Article Title
• Neutral Sentiment: Another article notes that W.R. Berkley’s baby bonds offer 7%+ yields at investment-grade risk, which supports the company’s credit profile but is unlikely to move the common stock materially on its own. Article Title
• Negative Sentiment: There is some caution in the analyst community, as one report says W.R. Berkley currently carries an average rating of “Reduce,” suggesting valuation or upside concerns remain. Article Title

W.R. Berkley 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.