Fortitude Family Office LLC Grows Stock Position in W. R. Berkley Co. (NYSE:WRB)

Fortitude Family Office LLC boosted its position in shares of W. R. Berkley Co. (NYSE:WRB) by 63.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,353 shares of the insurance provider’s stock after buying an additional 526 shares during the quarter. Fortitude Family Office LLC’s holdings in W. R. Berkley were worth $77,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Boston Financial Mangement LLC increased its position in W. R. Berkley by 47.1% during the 3rd quarter. Boston Financial Mangement LLC now owns 987,823 shares of the insurance provider’s stock valued at $56,039,000 after purchasing an additional 316,269 shares during the period. abrdn plc lifted its holdings in W. R. Berkley by 50.1% in the third quarter. abrdn plc now owns 112,153 shares of the insurance provider’s stock worth $6,292,000 after buying an additional 37,436 shares during the period. Nisa Investment Advisors LLC boosted its position in W. R. Berkley by 79.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 222,349 shares of the insurance provider’s stock valued at $12,614,000 after acquiring an additional 98,381 shares in the last quarter. Investment Partners Asset Management Inc. raised its position in shares of W. R. Berkley by 50.0% in the 3rd quarter. Investment Partners Asset Management Inc. now owns 6,750 shares of the insurance provider’s stock worth $383,000 after acquiring an additional 2,250 shares in the last quarter. Finally, Custom Index Systems LLC lifted its stake in shares of W. R. Berkley by 126.7% in the 3rd quarter. Custom Index Systems LLC now owns 12,575 shares of the insurance provider’s stock valued at $713,000 after purchasing an additional 7,029 shares during the period. 68.82% of the stock is currently owned by hedge funds and other institutional investors.

W. R. Berkley Price Performance

NYSE WRB opened at $57.62 on Wednesday. W. R. Berkley Co. has a one year low of $43.58 and a one year high of $61.96. The stock has a 50-day moving average of $58.39 and a 200 day moving average of $55.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market capitalization of $22.10 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.07 and a beta of 0.62.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings results on Monday, October 21st. The insurance provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.93 billion. W. R. Berkley had a net margin of 12.05% and a return on equity of 21.34%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 earnings per share. On average, sell-side analysts forecast that W. R. Berkley Co. will post 4.02 EPS for the current year.

W. R. Berkley Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a dividend of $0.08 per share. The ex-dividend date was Monday, September 23rd. This represents a $0.32 annualized dividend and a dividend yield of 0.56%. W. R. Berkley’s payout ratio is 8.51%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WRB shares. Barclays started coverage on W. R. Berkley in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $56.00 price target on the stock. Evercore ISI lifted their price target on shares of W. R. Berkley from $57.00 to $60.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. UBS Group raised their target price on shares of W. R. Berkley from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group upped their price target on W. R. Berkley from $53.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Bank of America lifted their price objective on W. R. Berkley from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, W. R. Berkley presently has an average rating of “Hold” and an average target price of $63.08.

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.