Tobam Sells 11,124 Shares of W.R. Berkley Corporation $WRB

Tobam reduced its position in shares of W.R. Berkley Corporation (NYSE:WRB) by 39.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,316 shares of the insurance provider’s stock after selling 11,124 shares during the quarter. Tobam’s holdings in W.R. Berkley were worth $1,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Johnson Financial Group Inc. increased its stake in shares of W.R. Berkley by 22.3% during the third quarter. Johnson Financial Group Inc. now owns 756 shares of the insurance provider’s stock valued at $58,000 after buying an additional 138 shares during the period. Inspire Advisors LLC lifted its stake in W.R. Berkley by 1.0% in the fourth quarter. Inspire Advisors LLC now owns 14,364 shares of the insurance provider’s stock worth $1,007,000 after acquiring an additional 144 shares during the period. Allworth Financial LP grew its holdings in W.R. Berkley by 4.8% during the 3rd quarter. Allworth Financial LP now owns 3,328 shares of the insurance provider’s stock worth $255,000 after acquiring an additional 153 shares in the last quarter. Coastal Bridge Advisors LLC grew its holdings in W.R. Berkley by 1.5% during the 4th quarter. Coastal Bridge Advisors LLC now owns 10,277 shares of the insurance provider’s stock worth $721,000 after acquiring an additional 154 shares in the last quarter. Finally, Accurate Wealth Management LLC increased its position in W.R. Berkley by 5.2% during the 4th quarter. Accurate Wealth Management LLC now owns 3,173 shares of the insurance provider’s stock valued at $217,000 after purchasing an additional 157 shares during the period. 68.82% of the stock is currently owned by hedge funds and other institutional investors.

W.R. Berkley Stock Up 0.1%

NYSE:WRB opened at $67.27 on Friday. The company’s 50-day simple moving average is $66.74 and its 200-day simple moving average is $68.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.36 and a current ratio of 0.36. W.R. Berkley Corporation has a fifty-two week low of $62.87 and a fifty-two week high of $78.96. The stock has a market capitalization of $25.04 billion, a P/E ratio of 14.25, a P/E/G ratio of 3.18 and a beta of 0.30.

W.R. Berkley (NYSE:WRB) last posted its quarterly earnings data on Tuesday, April 21st. The insurance provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.13 by $0.17. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.18 billion. W.R. Berkley had a net margin of 12.64% and a return on equity of 18.92%. W.R. Berkley’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 EPS. On average, equities analysts anticipate that W.R. Berkley Corporation will post 4.67 earnings per share for the current fiscal year.

W.R. Berkley Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Tuesday, June 23rd will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. This is a boost from W.R. Berkley’s previous quarterly dividend of $0.09. W.R. Berkley’s dividend payout ratio (DPR) is currently 7.63%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WRB shares. Brean Capital lowered shares of W.R. Berkley from a “buy” rating to a “neutral” rating and set a $73.00 price target for the company. in a report on Wednesday, March 25th. Evercore reissued an “underperform” rating on shares of W.R. Berkley in a report on Monday, March 9th. Truist Financial reduced their price objective on shares of W.R. Berkley from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, April 22nd. Barclays restated an “underweight” rating and set a $62.00 target price (down from $64.00) on shares of W.R. Berkley in a report on Friday, June 12th. Finally, Argus cut W.R. Berkley from a “buy” rating to a “hold” rating in a research report on Monday, April 27th. Three equities 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’s stock. According to data from MarketBeat, the company presently has a consensus 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.