Raleigh Capital Management Inc. Acquires 264 Shares of W. R. Berkley Co. (NYSE:WRB)

Raleigh Capital Management Inc. boosted its holdings in W. R. Berkley Co. (NYSE:WRB) by 45.6% during the third quarter, Holdings Channel.com reports. The fund owned 843 shares of the insurance provider’s stock after buying an additional 264 shares during the quarter. Raleigh Capital Management Inc.’s holdings in W. R. Berkley were worth $48,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of WRB. MJP Associates Inc. ADV grew its position in W. R. Berkley by 4.0% in the second quarter. MJP Associates Inc. ADV now owns 4,915 shares of the insurance provider’s stock worth $386,000 after acquiring an additional 188 shares in the last quarter. Atria Investments Inc increased its position in shares of W. R. Berkley by 0.4% during the 1st quarter. Atria Investments Inc now owns 50,637 shares of the insurance provider’s stock valued at $4,478,000 after purchasing an additional 189 shares during the last quarter. Kiely Wealth Advisory Group Inc. raised its holdings in shares of W. R. Berkley by 49.9% during the 2nd quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock valued at $46,000 after buying an additional 193 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in W. R. Berkley by 15.9% in the first quarter. AdvisorNet Financial Inc now owns 1,436 shares of the insurance provider’s stock worth $127,000 after buying an additional 197 shares in the last quarter. Finally, Caprock Group LLC grew its position in W. R. Berkley by 5.9% during the first quarter. Caprock Group LLC now owns 3,612 shares of the insurance provider’s stock valued at $320,000 after acquiring an additional 202 shares during the last quarter. Institutional investors own 68.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of W. R. Berkley from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group upped their price target on shares of W. R. Berkley from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada boosted their target price on W. R. Berkley from $57.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday. Jefferies Financial Group raised their price target on W. R. Berkley from $53.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Truist Financial boosted their price objective on W. R. Berkley from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, W. R. Berkley presently has an average rating of “Hold” and a consensus target price of $63.08.

W. R. Berkley Price Performance

Shares of W. R. Berkley stock opened at $59.13 on Thursday. The business has a 50 day moving average of $58.32 and a 200 day moving average of $55.57. W. R. Berkley Co. has a 52 week low of $43.20 and a 52 week high of $61.96. The company has a market cap of $22.68 billion, a PE ratio of 15.73, a P/E/G ratio of 1.07 and a beta of 0.62. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.36.

W. R. Berkley (NYSE:WRB) last posted its earnings results on Monday, October 21st. The insurance provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. W. R. Berkley had a net margin of 12.05% and a return on equity of 21.34%. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period last year, the company posted $0.90 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities research analysts forecast that W. R. Berkley Co. will post 4.02 earnings per share for the current year.

W. R. Berkley Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were given a dividend of $0.08 per share. The ex-dividend date was Monday, September 23rd. This represents a $0.32 annualized dividend and a yield of 0.54%. W. R. Berkley’s payout ratio is 8.51%.

About W. R. Berkley

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.