DNB Asset Management AS Raises Stake in W.R. Berkley Corporation $WRB

DNB Asset Management AS increased its holdings in shares of W.R. Berkley Corporation (NYSE:WRB - Free Report) by 10.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,400 shares of the insurance provider's stock after acquiring an additional 6,256 shares during the period. DNB Asset Management AS's holdings in W.R. Berkley were worth $4,878,000 at the end of the most recent reporting period.

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A number of other institutional investors and hedge funds have also made changes to their positions in WRB. Woodline Partners LP boosted its position in shares of W.R. Berkley by 4,198.9% in the 1st quarter. Woodline Partners LP now owns 777,201 shares of the insurance provider's stock worth $55,306,000 after purchasing an additional 759,122 shares in the last quarter. Vanguard Group Inc. raised its stake in W.R. Berkley by 1.7% during the second quarter. Vanguard Group Inc. now owns 36,961,788 shares of the insurance provider's stock valued at $2,715,583,000 after buying an additional 625,685 shares during the last quarter. Nuveen LLC bought a new stake in W.R. Berkley in the first quarter worth $44,210,000. Jacobs Levy Equity Management Inc. grew its stake in shares of W.R. Berkley by 60.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 826,616 shares of the insurance provider's stock worth $58,822,000 after acquiring an additional 310,313 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of W.R. Berkley by 3.7% during the second quarter. Geode Capital Management LLC now owns 8,189,248 shares of the insurance provider's stock valued at $599,271,000 after acquiring an additional 289,172 shares in the last quarter. Institutional investors own 68.82% of the company's stock.

Analyst Upgrades and Downgrades

WRB has been the topic of a number of analyst reports. Cantor Fitzgerald set a $78.00 price target on shares of W.R. Berkley in a research note on Monday, October 27th. Morgan Stanley set a $80.00 target price on shares of W.R. Berkley in a report on Monday, November 17th. Wolfe Research started coverage on shares of W.R. Berkley in a report on Monday, September 15th. They set a "peer perform" rating on the stock. Truist Financial set a $84.00 price target on shares of W.R. Berkley and gave the company a "buy" rating in a research report on Tuesday, October 21st. Finally, Wells Fargo & Company set a $66.00 price objective on W.R. Berkley and gave the company an "equal weight" rating in a research report on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, W.R. Berkley presently has an average rating of "Hold" and a consensus target price of $74.85.

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Get Our Latest Stock Analysis on WRB

W.R. Berkley Stock Up 1.1%

WRB opened at $78.16 on Monday. The stock has a market capitalization of $29.70 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.73 and a beta of 0.40. The firm has a 50 day moving average price of $75.21 and a 200-day moving average price of $72.89. W.R. Berkley Corporation has a twelve month low of $55.97 and a twelve month high of $78.96. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.31.

W.R. Berkley (NYSE:WRB - Get Free Report) last posted its earnings results on Monday, October 20th. The insurance provider reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.03. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.16 billion. W.R. Berkley had a net margin of 13.01% and a return on equity of 19.35%. The firm's revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 EPS. Equities research analysts forecast that W.R. Berkley Corporation will post 4.33 earnings per share for the current year.

W.R. Berkley Announces Dividend

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

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.

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