Inspire Investing LLC Sells 2,596 Shares of W. R. Berkley Co. (NYSE:WRB)

Inspire Investing LLC decreased its holdings in W. R. Berkley Co. (NYSE:WRB) by 14.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,366 shares of the insurance provider’s stock after selling 2,596 shares during the quarter. Inspire Investing LLC’s holdings in W. R. Berkley were worth $1,207,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Sound Income Strategies LLC grew its position in shares of W. R. Berkley by 563.2% in the 1st quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider’s stock valued at $40,000 after buying an additional 383 shares during the last quarter. Intelligent Financial Strategies bought a new stake in W. R. Berkley in the first quarter valued at approximately $44,000. Covestor Ltd increased its position in W. R. Berkley by 173.0% during the 1st quarter. Covestor Ltd now owns 546 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 346 shares during the period. Evermay Wealth Management LLC bought a new position in W. R. Berkley during the 1st quarter worth approximately $65,000. Finally, Mascoma Wealth Management LLC acquired a new position in shares of W. R. Berkley in the 2nd quarter worth approximately $62,000. 68.82% of the stock is owned by institutional investors.

W. R. Berkley Trading Down 0.5 %

NYSE WRB opened at $57.52 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.36. W. R. Berkley Co. has a 52 week low of $41.37 and a 52 week high of $61.28. The business has a 50 day moving average price of $56.68 and a 200-day moving average price of $73.34. The company has a market cap of $22.06 billion, a price-to-earnings ratio of 15.30, a P/E/G ratio of 1.05 and a beta of 0.62.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.12. The business had revenue of $3.31 billion during the quarter, compared to analyst estimates of $2.84 billion. W. R. Berkley had a net margin of 12.05% and a return on equity of 21.34%. W. R. Berkley’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. As a group, equities analysts expect that W. R. Berkley Co. will post 4.03 earnings per share for the current fiscal year.

W. R. Berkley Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be given a $0.08 dividend. The ex-dividend date is Monday, September 23rd. This represents a $0.32 annualized dividend and a yield of 0.56%. W. R. Berkley’s payout ratio is 8.51%.

Analysts Set New Price Targets

Several research firms have recently weighed in on WRB. Truist Financial increased their price objective on shares of W. R. Berkley from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $57.00 price objective on shares of W. R. Berkley in a research report on Tuesday, July 23rd. Barclays started coverage on W. R. Berkley in a research report on Wednesday, September 4th. They set an “underweight” rating and a $56.00 target price on the stock. The Goldman Sachs Group downgraded W. R. Berkley from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $88.00 to $83.00 in a report on Thursday, June 13th. Finally, Wells Fargo & Company cut their price target on W. R. Berkley from $62.00 to $59.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, W. R. Berkley currently has an average rating of “Hold” and a consensus target price of $77.70.

W. R. Berkley Profile

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.