Resonant Capital Advisors LLC Has $565,000 Stake in W.R. Berkley Corporation $WRB

Resonant Capital Advisors LLC trimmed its stake in W.R. Berkley Corporation (NYSE:WRB) by 55.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,525 shares of the insurance provider’s stock after selling 10,553 shares during the period. Resonant Capital Advisors LLC’s holdings in W.R. Berkley were worth $565,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Entrust Financial LLC acquired a new stake in shares of W.R. Berkley during the 4th quarter worth about $25,000. Hazlett Burt & Watson Inc. boosted its position in W.R. Berkley by 140.0% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock valued at $26,000 after buying an additional 210 shares in the last quarter. DV Equities LLC bought a new stake in W.R. Berkley during the fourth quarter worth about $29,000. Triumph Capital Management acquired a new stake in shares of W.R. Berkley during the third quarter worth approximately $35,000. Finally, Quarry LP acquired a new stake in shares of W.R. Berkley during the fourth quarter worth approximately $39,000. 68.82% of the stock is owned by institutional investors.

W.R. Berkley Stock Up 0.9%

NYSE WRB opened at $71.54 on Wednesday. The stock has a market capitalization of $26.63 billion, a P/E ratio of 15.16, a price-to-earnings-growth ratio of 3.35 and a beta of 0.29. W.R. Berkley Corporation has a 52 week low of $62.87 and a 52 week high of $78.96. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a fifty day moving average of $67.67 and a 200-day moving average of $68.25.

W.R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Tuesday, April 21st. The insurance provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 18.92% and a net margin of 12.64%.The company’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $1.01 earnings per share. On average, equities research analysts forecast that W.R. Berkley Corporation will post 4.67 EPS for the current year.

W.R. Berkley Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Tuesday, June 23rd were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, June 23rd. This is a positive change from W.R. Berkley’s previous quarterly dividend of $0.09. W.R. Berkley’s dividend payout ratio is presently 8.47%.

Wall Street Analysts Forecast Growth

WRB has been the topic of several recent analyst reports. The Goldman Sachs Group raised W.R. Berkley from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $71.00 to $73.00 in a report on Monday, June 8th. Truist Financial cut their price objective on W.R. Berkley from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Brean Capital lowered W.R. Berkley from a “buy” rating to a “neutral” rating and set a $73.00 price objective on the stock. in a research note on Wednesday, March 25th. Weiss Ratings lowered W.R. Berkley from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, May 20th. Finally, Morgan Stanley lifted their price target on W.R. Berkley from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $68.50.

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.