Lazard Asset Management LLC Has $1.33 Million Stock Holdings in W. R. Berkley Co. (NYSE:WRB)

Lazard Asset Management LLC cut its holdings in W. R. Berkley Co. (NYSE:WRB) by 71.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 22,732 shares of the insurance provider’s stock after selling 56,082 shares during the quarter. Lazard Asset Management LLC’s holdings in W. R. Berkley were worth $1,329,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Optiver Holding B.V. grew its position in shares of W. R. Berkley by 107.3% in the 4th quarter. Optiver Holding B.V. now owns 427 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 221 shares during the period. Whipplewood Advisors LLC acquired a new position in shares of W. R. Berkley in the 4th quarter valued at approximately $35,000. Catalyst Capital Advisors LLC acquired a new position in W. R. Berkley during the 4th quarter worth approximately $42,000. Colonial Trust Co SC boosted its position in W. R. Berkley by 79.9% during the 4th quarter. Colonial Trust Co SC now owns 822 shares of the insurance provider’s stock worth $48,000 after acquiring an additional 365 shares during the last quarter. Finally, Crowley Wealth Management Inc. acquired a new position in W. R. Berkley during the 4th quarter worth approximately $59,000. 68.82% of the stock is currently owned by institutional investors and hedge funds.

W. R. Berkley Trading Up 0.8%

Shares of W. R. Berkley stock opened at $73.29 on Monday. W. R. Berkley Co. has a 12-month low of $51.17 and a 12-month high of $76.38. The business’s 50 day moving average is $68.49 and its 200-day moving average is $63.23. 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 stock has a market cap of $27.80 billion, a P/E ratio of 16.80, a P/E/G ratio of 1.56 and a beta of 0.44.

W. R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Monday, April 21st. The insurance provider reported $1.01 earnings per share 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 business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3.01 billion. Equities research analysts predict that W. R. Berkley Co. will post 4.33 earnings per share for the current fiscal year.

W. R. Berkley Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Monday, March 3rd were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Monday, March 3rd. W. R. Berkley’s dividend payout ratio (DPR) is presently 7.42%.

Analyst Ratings Changes

WRB has been the subject of a number of recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $63.00 price target on shares of W. R. Berkley in a research report on Tuesday, January 28th. UBS Group upped their price target on W. R. Berkley from $73.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, April 28th. Wells Fargo & Company upped their price target 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. Keefe, Bruyette & Woods upped their price target on W. R. Berkley from $62.00 to $65.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 22nd. Finally, Bank of America reiterated a “neutral” rating and set a $74.00 price objective (up previously from $73.00) on shares of W. R. Berkley in a research note on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $68.39.

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.