Wealthspire Advisors LLC Sells 1,128 Shares of W.R. Berkley Corporation $WRB

Wealthspire Advisors LLC lessened its position in shares of W.R. Berkley Corporation (NYSE:WRB) by 14.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,452 shares of the insurance provider’s stock after selling 1,128 shares during the quarter. Wealthspire Advisors LLC’s holdings in W.R. Berkley were worth $474,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Hilltop National Bank purchased a new stake in shares of W.R. Berkley during the 2nd quarter valued at about $27,000. Spectrum Wealth Counsel LLC bought a new stake in W.R. Berkley during the first quarter worth approximately $29,000. N.E.W. Advisory Services LLC bought a new stake in W.R. Berkley during the first quarter worth approximately $36,000. Keystone Global Partners LLC purchased a new stake in W.R. Berkley during the first quarter valued at approximately $41,000. Finally, Whipplewood Advisors LLC lifted its stake in shares of W.R. Berkley by 148.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 616 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 368 shares during the last quarter. Institutional investors own 68.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WRB. Weiss Ratings reissued a “buy (b)” rating on shares of W.R. Berkley in a research report on Wednesday, October 8th. Barclays reaffirmed an “underweight” rating and set a $73.00 target price on shares of W.R. Berkley in a research note on Wednesday, October 8th. Wolfe Research assumed coverage on W.R. Berkley in a research note on Monday, September 15th. They set a “peer perform” rating for the company. Wells Fargo & Company set a $66.00 target price on W.R. Berkley and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Finally, Jefferies Financial Group decreased their target price on W.R. Berkley from $76.00 to $75.00 and set a “hold” rating for the company in a research report on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $74.85.

W.R. Berkley Trading Up 1.1%

Shares of NYSE:WRB opened at $78.16 on Friday. The business’s 50-day moving average is $75.21 and its 200 day moving average is $72.89. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.37 and a quick ratio of 0.37. W.R. Berkley Corporation has a 1 year low of $55.97 and a 1 year high of $78.96. The firm has a market capitalization of $29.70 billion, a P/E ratio of 16.42, a P/E/G ratio of 2.73 and a beta of 0.40.

W.R. Berkley (NYSE:WRB) last posted its quarterly earnings data 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 business had revenue of $3.77 billion during 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 revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share. On average, research analysts predict that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a dividend of $0.09 per share. The ex-dividend date 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 currently 7.56%.

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.