Resources Management Corp CT ADV Acquires Shares of 33,722 W.R. Berkley Corporation $WRB

Resources Management Corp CT ADV acquired a new stake in W.R. Berkley Corporation (NYSE:WRB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 33,722 shares of the insurance provider’s stock, valued at approximately $2,365,000.

Several other hedge funds also recently modified their holdings of WRB. Entrust Financial LLC purchased a new position in shares of W.R. Berkley during the fourth quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. lifted its position in shares of W.R. Berkley by 140.0% during the 4th 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 during the last quarter. Triumph Capital Management purchased a new position in shares of W.R. Berkley during the 3rd quarter valued at $35,000. Quarry LP purchased a new position in shares of W.R. Berkley during the 4th quarter valued at $39,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of W.R. Berkley during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WRB shares. Truist Financial decreased their price objective on W.R. Berkley from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Evercore restated an “underperform” rating on shares of W.R. Berkley in a research note on Monday, March 9th. Wall Street Zen raised W.R. Berkley from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Argus cut W.R. Berkley from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Weiss Ratings cut W.R. Berkley from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 20th. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $68.31.

W.R. Berkley Stock Down 0.2%

Shares of NYSE:WRB opened at $68.15 on Monday. 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 firm has a market capitalization of $25.37 billion, a P/E ratio of 14.44, a P/E/G ratio of 3.23 and a beta of 0.30. The stock has a 50 day moving average price of $66.60 and a 200-day moving average price of $68.45.

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

W.R. Berkley Increases Dividend

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

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.