Centiva Capital LP Invests $1.92 Million in W. R. Berkley Co. (NYSE:WRB)

Centiva Capital LP acquired a new position in W. R. Berkley Co. (NYSE:WRB) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 33,793 shares of the insurance provider’s stock, valued at approximately $1,917,000.

Other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of W. R. Berkley in the third quarter worth about $732,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in W. R. Berkley by 53.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 737,472 shares of the insurance provider’s stock worth $41,837,000 after acquiring an additional 257,211 shares during the period. Sanctuary Advisors LLC acquired a new stake in W. R. Berkley during the second quarter worth about $4,801,000. Atria Investments Inc grew its holdings in W. R. Berkley by 49.9% during the third quarter. Atria Investments Inc now owns 92,574 shares of the insurance provider’s stock worth $5,252,000 after acquiring an additional 30,833 shares during the period. Finally, Markel Group Inc. grew its holdings in W. R. Berkley by 50.0% during the third quarter. Markel Group Inc. now owns 60,750 shares of the insurance provider’s stock worth $3,446,000 after acquiring an additional 20,250 shares during the period. 68.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wells Fargo & Company raised their target price on W. R. Berkley from $63.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. StockNews.com raised W. R. Berkley from a “hold” rating to a “buy” rating in a report on Friday. Royal Bank of Canada raised their target price on W. R. Berkley from $57.00 to $63.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 22nd. Bank of America raised their target price on W. R. Berkley from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Truist Financial raised their price objective on W. R. Berkley from $64.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $64.22.

W. R. Berkley Stock Performance

Shares of NYSE:WRB opened at $63.65 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.36 and a quick ratio of 0.36. The business’s 50 day moving average price is $59.54 and its 200-day moving average price is $57.02. The firm has a market capitalization of $24.26 billion, a PE ratio of 16.31, a P/E/G ratio of 1.25 and a beta of 0.62. W. R. Berkley Co. has a 1 year low of $45.75 and a 1 year high of $65.49.

W. R. Berkley (NYSE:WRB) last issued its quarterly earnings results on Monday, October 21st. The insurance provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.93 billion. W. R. Berkley had a return on equity of 20.41% and a net margin of 11.96%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. As a group, equities research analysts expect that W. R. Berkley Co. will post 3.94 earnings per share for the current fiscal year.

W. R. Berkley Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, September 23rd. W. R. Berkley’s dividend payout ratio is presently 8.20%.

W. R. Berkley Profile

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.