Kornitzer Capital Management Inc. KS Sells 150 Shares of W.R. Berkley Corporation $WRB

Kornitzer Capital Management Inc. KS cut its stake in W.R. Berkley Corporation (NYSE:WRB) by 1.0% in the second quarter, HoldingsChannel reports. The fund owned 14,647 shares of the insurance provider’s stock after selling 150 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in W.R. Berkley were worth $1,076,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WRB. Brighton Jones LLC lifted its holdings in W.R. Berkley by 75.6% during the 4th quarter. Brighton Jones LLC now owns 50,503 shares of the insurance provider’s stock worth $2,955,000 after buying an additional 21,737 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of W.R. Berkley by 23.8% during the first quarter. GAMMA Investing LLC now owns 9,442 shares of the insurance provider’s stock valued at $672,000 after acquiring an additional 1,815 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in W.R. Berkley by 4.2% in the first quarter. Oppenheimer & Co. Inc. now owns 4,842 shares of the insurance provider’s stock valued at $345,000 after acquiring an additional 194 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in W.R. Berkley by 22.5% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 76,635 shares of the insurance provider’s stock worth $5,453,000 after purchasing an additional 14,089 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its position in W.R. Berkley by 24.6% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 1,104 shares of the insurance provider’s stock valued at $79,000 after purchasing an additional 218 shares during the period. 68.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WRB. Wells Fargo & Company set a $66.00 price target on shares of W.R. Berkley and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. UBS Group set a $87.00 price target on W.R. Berkley and gave the company a “buy” rating in a research note on Wednesday, October 8th. Weiss Ratings restated a “buy (b)” rating on shares of W.R. Berkley in a research report on Friday. Cantor Fitzgerald reiterated an “overweight” rating on shares of W.R. Berkley in a report on Tuesday, October 21st. Finally, Truist Financial set a $84.00 target price on W.R. Berkley and gave the stock a “buy” rating in a report on Tuesday, October 21st. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $74.77.

W.R. Berkley Trading Down 0.3%

NYSE:WRB opened at $75.01 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.37 and a quick ratio of 0.37. The business’s 50-day simple moving average is $74.02 and its 200-day simple moving average is $72.19. W.R. Berkley Corporation has a fifty-two week low of $55.97 and a fifty-two week high of $78.48. The stock has a market capitalization of $28.45 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 2.88 and a beta of 0.42.

W.R. Berkley (NYSE:WRB) last announced its earnings results on Monday, October 20th. The insurance provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. The firm had revenue of $3.16 billion for 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 business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the company posted $0.93 EPS. Sell-side analysts expect that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. W.R. Berkley’s dividend payout ratio is presently 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.