Frank Rimerman Advisors LLC Takes Position in W. R. Berkley Co. (NYSE:WRB)

Frank Rimerman Advisors LLC bought a new position in shares of W. R. Berkley Co. (NYSE:WRB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,394 shares of the insurance provider’s stock, valued at approximately $817,000.

A number of other hedge funds have also modified their holdings of WRB. APG Asset Management US Inc. acquired a new stake in shares of W. R. Berkley during the fourth quarter worth $2,878,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of W. R. Berkley by 108.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 28,747 shares of the insurance provider’s stock worth $2,033,000 after buying an additional 14,933 shares in the last quarter. Cibc World Markets Corp raised its stake in W. R. Berkley by 44.8% in the 4th quarter. Cibc World Markets Corp now owns 47,313 shares of the insurance provider’s stock worth $3,346,000 after purchasing an additional 14,639 shares in the last quarter. Prudential PLC boosted its stake in shares of W. R. Berkley by 205.9% in the second quarter. Prudential PLC now owns 68,526 shares of the insurance provider’s stock valued at $5,385,000 after buying an additional 46,125 shares during the period. Finally, Stoneridge Investment Partners LLC bought a new stake in shares of W. R. Berkley during the 2nd quarter valued at $3,245,000. 68.82% of the stock is currently owned by institutional investors and hedge funds.

W. R. Berkley Stock Performance

WRB stock opened at $57.44 on Tuesday. W. R. Berkley Co. has a 12-month low of $41.37 and a 12-month high of $61.28. The firm has a market cap of $22.03 billion, a PE ratio of 15.28, a P/E/G ratio of 1.05 and a beta of 0.62. The business has a 50 day moving average of $56.82 and a 200-day moving average of $72.82. 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 (NYSE:WRB) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.12. The company had revenue of $3.31 billion during the quarter, compared to analyst estimates of $2.84 billion. W. R. Berkley had a return on equity of 21.34% and a net margin of 12.05%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. As a group, sell-side analysts expect that W. R. Berkley Co. will post 4.03 earnings per share for the current year.

W. R. Berkley Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, September 23rd. This represents a $0.32 dividend on an annualized basis and a yield of 0.56%. W. R. Berkley’s dividend payout ratio (DPR) is 8.51%.

Wall Street Analysts Forecast Growth

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