Public Employees Retirement System of Ohio Takes $4.56 Million Position in W.R. Berkley Corporation $WRB

Public Employees Retirement System of Ohio purchased a new position in W.R. Berkley Corporation (NYSE:WRB) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 64,675 shares of the insurance provider’s stock, valued at approximately $4,562,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Mitsui Sumitomo Insurance Co. Ltd. purchased a new position in W.R. Berkley during the fourth quarter valued at $3,542,919,000. State Street Corp grew its position in shares of W.R. Berkley by 1.0% in the 3rd quarter. State Street Corp now owns 14,921,114 shares of the insurance provider’s stock worth $1,143,256,000 after buying an additional 149,605 shares during the period. Norges Bank bought a new position in shares of W.R. Berkley in the 4th quarter worth about $435,752,000. Invesco Ltd. lifted its position in W.R. Berkley by 0.4% during the 4th quarter. Invesco Ltd. now owns 4,913,337 shares of the insurance provider’s stock valued at $344,523,000 after acquiring an additional 20,538 shares during the period. Finally, Wells Fargo & Company MN lifted its position in W.R. Berkley by 2.2% during the 4th quarter. Wells Fargo & Company MN now owns 3,990,309 shares of the insurance provider’s stock valued at $279,800,000 after acquiring an additional 85,165 shares during the period. Institutional investors own 68.82% of the company’s stock.

Wall Street Analyst Weigh In

WRB has been the topic of a number of recent research reports. Morgan Stanley upped their price objective on shares of W.R. Berkley from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Wells Fargo & Company reissued an “underweight” rating and issued a $68.00 price target (up from $67.00) on shares of W.R. Berkley in a research report on Tuesday, July 21st. Truist Financial upped their price target on W.R. Berkley from $78.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $74.00 price objective (up from $70.00) on shares of W.R. Berkley in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group upgraded W.R. Berkley from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $71.00 to $73.00 in a research note on Monday, June 8th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $70.94.

W.R. Berkley Trading Up 0.6%

W.R. Berkley stock opened at $68.15 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.37 and a quick ratio of 0.37. W.R. Berkley Corporation has a one year low of $62.87 and a one year high of $78.96. The stock has a market capitalization of $25.30 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.28. The business’s fifty day moving average is $71.15 and its 200 day moving average is $68.80.

W.R. Berkley (NYSE:WRB) last issued its earnings results on Monday, July 20th. The insurance provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.19. The business had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.28 billion. W.R. Berkley had a return on equity of 19.44% and a net margin of 12.94%.W.R. Berkley’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 EPS. On average, sell-side analysts predict that W.R. Berkley Corporation will post 4.87 EPS for the current year.

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.