Hutchens & Kramer Investment Management Group LLC Lowers Stock Holdings in W.R. Berkley Corporation $WRB

Hutchens & Kramer Investment Management Group LLC lowered its holdings in shares of W.R. Berkley Corporation (NYSE:WRB) by 32.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,467 shares of the insurance provider’s stock after selling 1,700 shares during the quarter. Hutchens & Kramer Investment Management Group LLC’s holdings in W.R. Berkley were worth $253,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WRB. Brighton Jones LLC boosted its position in W.R. Berkley by 75.6% during the fourth quarter. Brighton Jones LLC now owns 50,503 shares of the insurance provider’s stock worth $2,955,000 after purchasing an additional 21,737 shares in the last quarter. Vontobel Holding Ltd. boosted its position in W.R. Berkley by 185.0% during the first quarter. Vontobel Holding Ltd. now owns 14,908 shares of the insurance provider’s stock worth $1,061,000 after purchasing an additional 9,677 shares in the last quarter. DAVENPORT & Co LLC boosted its position in W.R. Berkley by 15.8% during the first quarter. DAVENPORT & Co LLC now owns 20,396 shares of the insurance provider’s stock worth $1,451,000 after purchasing an additional 2,785 shares in the last quarter. IFM Investors Pty Ltd boosted its position in W.R. Berkley by 7.2% during the first quarter. IFM Investors Pty Ltd now owns 57,305 shares of the insurance provider’s stock worth $4,078,000 after purchasing an additional 3,827 shares in the last quarter. Finally, Truist Financial Corp boosted its position in W.R. Berkley by 3.8% during the first quarter. Truist Financial Corp now owns 1,525,169 shares of the insurance provider’s stock worth $108,531,000 after purchasing an additional 55,838 shares in the last quarter. Hedge funds and other institutional investors own 68.82% of the company’s stock.

W.R. Berkley Price Performance

WRB stock opened at $71.45 on Monday. The business has a fifty day moving average of $74.07 and a two-hundred day moving average of $72.37. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.31. The stock has a market cap of $27.10 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 2.73 and a beta of 0.42. W.R. Berkley Corporation has a 52-week low of $55.97 and a 52-week high of $78.48.

W.R. Berkley (NYSE:WRB) last posted its earnings results on Monday, October 20th. The insurance provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.03. The company had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.16 billion. W.R. Berkley had a return on equity of 19.35% and a net margin of 13.01%.The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 earnings per share. As a group, research analysts anticipate that W.R. Berkley Corporation will post 4.33 earnings per share for the current year.

W.R. Berkley Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $0.36 annualized dividend and a yield of 0.5%. W.R. Berkley’s dividend payout ratio (DPR) is 7.56%.

Analyst Ratings Changes

Several research firms have recently weighed in on WRB. Wells Fargo & Company set a $66.00 target price on W.R. Berkley and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Barclays reaffirmed an “underweight” rating and issued a $73.00 price target on shares of W.R. Berkley in a report on Wednesday, October 8th. Jefferies Financial Group cut their price target on W.R. Berkley from $76.00 to $75.00 and set a “hold” rating for the company in a report on Tuesday, October 21st. BMO Capital Markets cut W.R. Berkley from a “market perform” rating to an “underperform” rating and set a $64.00 price target for the company. in a report on Wednesday, October 22nd. Finally, Wolfe Research initiated coverage on W.R. Berkley in a report on Monday, September 15th. They issued a “peer perform” rating for the company. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, W.R. Berkley currently has a consensus rating of “Hold” and a consensus target price of $74.46.

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.