Asset Management Group Inc. Purchases 19,499 Shares of W. R. Berkley Co. (NYSE:WRB)

Asset Management Group Inc. increased its position in W. R. Berkley Co. (NYSE:WRB) by 43.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,482 shares of the insurance provider’s stock after buying an additional 19,499 shares during the quarter. Asset Management Group Inc.’s holdings in W. R. Berkley were worth $3,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Armstrong Advisory Group Inc. lifted its position in W. R. Berkley by 51.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider’s stock worth $35,000 after buying an additional 209 shares during the last quarter. PFS Partners LLC increased its stake in W. R. Berkley by 51.1% in the 3rd quarter. PFS Partners LLC now owns 719 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 243 shares during the period. Quarry LP purchased a new position in W. R. Berkley in the 2nd quarter worth approximately $42,000. Creative Financial Designs Inc. ADV increased its stake in W. R. Berkley by 108.1% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 801 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 416 shares during the period. Finally, Kiely Wealth Advisory Group Inc. increased its stake in W. R. Berkley by 49.9% in the 2nd quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock worth $46,000 after purchasing an additional 193 shares during the period. Institutional investors own 68.82% of the company’s stock.

W. R. Berkley Trading Up 2.0 %

NYSE WRB opened at $62.14 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.34. W. R. Berkley Co. has a twelve month low of $45.75 and a twelve month high of $62.26. The firm has a market capitalization of $23.68 billion, a PE ratio of 15.92, a P/E/G ratio of 1.19 and a beta of 0.62. The stock’s 50 day moving average is $58.60 and its 200 day moving average is $56.36.

W. R. Berkley (NYSE:WRB) last released 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 return on equity of 20.41% and a net margin of 11.96%. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the previous year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts forecast that W. R. Berkley Co. will post 3.96 earnings per share for the current fiscal year.

W. R. Berkley Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, September 23rd. W. R. Berkley’s dividend payout ratio (DPR) is 8.20%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Truist Financial lifted their price target on W. R. Berkley from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Evercore ISI boosted their target price on W. R. Berkley from $57.00 to $60.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Barclays assumed coverage on W. R. Berkley in a research note on Wednesday, September 4th. They set an “underweight” rating and a $56.00 target price on the stock. Bank of America boosted their target price 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. Finally, 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, October 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, W. R. Berkley presently has a consensus rating of “Hold” and a consensus price target of $63.08.

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.