SG Americas Securities LLC Purchases 81,094 Shares of W.R. Berkley Corporation $WRB

SG Americas Securities LLC raised its position in W.R. Berkley Corporation (NYSE:WRB) by 23.6% during the first quarter, HoldingsChannel.com reports. The firm owned 425,134 shares of the insurance provider’s stock after purchasing an additional 81,094 shares during the period. SG Americas Securities LLC’s holdings in W.R. Berkley were worth $28,178,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WRB. Entrust Financial LLC purchased a new position in shares of W.R. Berkley during the fourth quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. raised its holdings in shares of W.R. Berkley by 140.0% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock worth $26,000 after buying an additional 210 shares during the period. DV Equities LLC bought a new stake in shares of W.R. Berkley during the 4th quarter worth approximately $29,000. Triumph Capital Management bought a new stake in shares of W.R. Berkley during the 3rd quarter worth approximately $35,000. Finally, Quarry LP purchased a new position in W.R. Berkley during the 4th quarter valued at $39,000. Institutional investors own 68.82% of the company’s stock.

W.R. Berkley Trading Up 1.7%

WRB opened at $70.12 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average is $66.87 and its two-hundred day moving average is $68.07. The company has a market capitalization of $26.11 billion, a P/E ratio of 14.86, a PEG ratio of 3.26 and a beta of 0.30. W.R. Berkley Corporation has a 52 week low of $62.87 and a 52 week high of $78.96.

W.R. Berkley (NYSE:WRB) last issued its earnings results on Tuesday, April 21st. The insurance provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.17. W.R. Berkley had a return on equity of 18.92% and a net margin of 12.64%.The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the prior year, the business earned $1.01 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts forecast that W.R. Berkley Corporation will post 4.67 earnings per share for the current year.

W.R. Berkley Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Tuesday, June 23rd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. This is a boost from W.R. Berkley’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Tuesday, June 23rd. W.R. Berkley’s payout ratio is currently 8.47%.

Wall Street Analysts Forecast Growth

WRB has been the topic of several research analyst reports. Bank of America cut their price objective on W.R. Berkley from $68.00 to $67.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. Morgan Stanley lowered their target price on shares of W.R. Berkley from $73.00 to $72.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. Truist Financial cut their price target on shares of W.R. Berkley from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Keefe, Bruyette & Woods reduced their price target on shares of W.R. Berkley from $74.00 to $66.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 1st. Finally, Barclays reiterated an “underweight” rating and set a $62.00 price objective (down from $64.00) on shares of W.R. Berkley in a report on Friday, June 12th. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $68.31.

W.R. Berkley Company Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.