Procyon Advisors LLC Raises Holdings in W. R. Berkley Co. (NYSE:WRB)

Procyon Advisors LLC lifted its holdings in W. R. Berkley Co. (NYSE:WRB) by 11.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,783 shares of the insurance provider’s stock after buying an additional 2,111 shares during the quarter. Procyon Advisors LLC’s holdings in W. R. Berkley were worth $1,479,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Optiver Holding B.V. boosted its position in shares of W. R. Berkley by 107.3% during the 4th quarter. Optiver Holding B.V. now owns 427 shares of the insurance provider’s stock worth $25,000 after purchasing an additional 221 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of W. R. Berkley in the fourth quarter valued at about $35,000. Mpwm Advisory Solutions LLC purchased a new stake in W. R. Berkley during the fourth quarter worth about $37,000. Catalyst Capital Advisors LLC acquired a new position in W. R. Berkley during the fourth quarter worth about $42,000. Finally, Colonial Trust Co SC increased its holdings in W. R. Berkley by 79.9% in the fourth quarter. Colonial Trust Co SC now owns 822 shares of the insurance provider’s stock valued at $48,000 after buying an additional 365 shares in the last quarter. Institutional investors and hedge funds own 68.82% of the company’s stock.

W. R. Berkley Stock Up 0.5%

Shares of NYSE:WRB opened at $74.23 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $28.16 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.56 and a beta of 0.44. W. R. Berkley Co. has a 52-week low of $51.17 and a 52-week high of $76.38. The stock’s fifty day simple moving average is $71.08 and its 200-day simple moving average is $64.64.

W. R. Berkley (NYSE:WRB) last released its earnings results on Monday, April 21st. The insurance provider reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.07). W. R. Berkley had a net margin of 12.88% and a return on equity of 20.83%. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $3.01 billion. As a group, equities research analysts forecast that W. R. Berkley Co. will post 4.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on WRB. Keefe, Bruyette & Woods boosted their price target on W. R. Berkley from $65.00 to $75.00 and gave the stock a “market perform” rating in a research note on Monday, May 19th. Truist Financial lifted their price objective on W. R. Berkley from $68.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, April 3rd. Wells Fargo & Company boosted their target price on W. R. Berkley from $69.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 22nd. The Goldman Sachs Group cut W. R. Berkley from a “strong-buy” rating to a “hold” rating and raised their price target for the company from $74.00 to $76.00 in a research report on Thursday, May 22nd. Finally, Jefferies Financial Group lifted their price target on W. R. Berkley from $57.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, W. R. Berkley presently has an average rating of “Hold” and a consensus target price of $70.64.

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.