Elevate Capital Advisors LLC Makes New $3.28 Million Investment in W. R. Berkley Co. (NYSE:WRB)

Elevate Capital Advisors LLC bought a new stake in W. R. Berkley Co. (NYSE:WRB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 56,110 shares of the insurance provider’s stock, valued at approximately $3,284,000. W. R. Berkley comprises approximately 2.9% of Elevate Capital Advisors LLC’s portfolio, making the stock its 9th largest holding.

Several other institutional investors and hedge funds have also modified their holdings of WRB. Atomi Financial Group Inc. grew its holdings in W. R. Berkley by 45.6% during the 3rd quarter. Atomi Financial Group Inc. now owns 5,032 shares of the insurance provider’s stock worth $285,000 after acquiring an additional 1,575 shares during the last quarter. Wedmont Private Capital grew its stake in shares of W. R. Berkley by 4.2% during the third quarter. Wedmont Private Capital now owns 7,857 shares of the insurance provider’s stock valued at $444,000 after purchasing an additional 317 shares during the last quarter. Clarius Group LLC acquired a new stake in shares of W. R. Berkley in the third quarter valued at approximately $201,000. Livforsakringsbolaget Skandia Omsesidigt raised its position in W. R. Berkley by 563.4% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,196 shares of the insurance provider’s stock worth $125,000 after purchasing an additional 1,865 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in W. R. Berkley by 83.7% during the 3rd quarter. Valeo Financial Advisors LLC now owns 4,722 shares of the insurance provider’s stock worth $268,000 after buying an additional 2,152 shares in the last quarter. 68.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on WRB shares. Wells Fargo & Company lifted their target price on W. R. Berkley from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. StockNews.com cut W. R. Berkley from a “buy” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group upgraded shares of W. R. Berkley from a “neutral” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Monday, November 25th. Bank of America lifted their price target on shares of W. R. Berkley from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Truist Financial increased their price objective on shares of W. R. Berkley from $64.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $64.36.

W. R. Berkley Stock Performance

Shares of W. R. Berkley stock opened at $61.51 on Monday. The stock’s fifty day simple moving average is $59.52 and its 200 day simple moving average is $58.80. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $23.44 billion, a PE ratio of 14.10, a PEG ratio of 1.59 and a beta of 0.67. W. R. Berkley Co. has a 12 month low of $50.73 and a 12 month high of $65.49.

W. R. Berkley (NYSE:WRB) last released its quarterly earnings results on Monday, January 27th. The insurance provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.18. W. R. Berkley had a return on equity of 20.83% and a net margin of 12.88%. On average, research analysts predict that W. R. Berkley Co. will post 4.35 EPS for the current year.

W. R. Berkley Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, December 16th. W. R. Berkley’s dividend payout ratio is 7.33%.

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.