M&R Capital Management Inc. Has $340,000 Stock Position in W. R. Berkley Co. (NYSE:WRB)

M&R Capital Management Inc. lifted its position in shares of W. R. Berkley Co. (NYSE:WRB) by 50.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the insurance provider’s stock after purchasing an additional 2,000 shares during the quarter. M&R Capital Management Inc.’s holdings in W. R. Berkley were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of WRB. Sound Income Strategies LLC boosted its stake in W. R. Berkley by 563.2% during the first quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider’s stock worth $40,000 after buying an additional 383 shares in the last quarter. Quarry LP acquired a new stake in shares of W. R. Berkley during the 2nd quarter valued at about $42,000. Intelligent Financial Strategies bought a new stake in W. R. Berkley in the first quarter valued at about $44,000. Kiely Wealth Advisory Group Inc. raised its position in W. R. Berkley by 49.9% in the second quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 193 shares in the last quarter. Finally, Covestor Ltd lifted its stake in W. R. Berkley by 173.0% during the first quarter. Covestor Ltd now owns 546 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 346 shares during the period. 68.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $57.00 target price on shares of W. R. Berkley in a report on Tuesday, July 23rd. Barclays assumed coverage on W. R. Berkley in a research note on Wednesday, September 4th. They set an “underweight” rating and a $56.00 price objective for the company. Wells Fargo & Company reduced their target price on shares of W. R. Berkley from $62.00 to $59.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Truist Financial increased their target price 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. Finally, StockNews.com lowered shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, W. R. Berkley presently has an average rating of “Hold” and a consensus target price of $77.70.

W. R. Berkley Price Performance

Shares of WRB stock opened at $57.63 on Thursday. W. R. Berkley Co. has a 1 year low of $41.37 and a 1 year high of $61.28. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $57.30 and its 200-day moving average is $71.51. The firm has a market capitalization of $22.10 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.05 and a beta of 0.62.

W. R. Berkley (NYSE:WRB) last posted its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.12. W. R. Berkley had a return on equity of 21.34% and a net margin of 12.05%. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the business earned $1.14 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Sell-side analysts forecast that W. R. Berkley Co. will post 4.03 EPS for the current fiscal year.

W. R. Berkley Announces Dividend

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

W. R. Berkley Company 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.