Andra AP fonden Acquires 45,500 Shares of W. R. Berkley Co. (NYSE:WRB)

Andra AP fonden boosted its stake in shares of W. R. Berkley Co. (NYSE:WRB) by 49.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 137,400 shares of the insurance provider’s stock after acquiring an additional 45,500 shares during the quarter. Andra AP fonden’s holdings in W. R. Berkley were worth $10,797,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Insight Inv LLC increased its holdings in shares of W. R. Berkley by 4.9% in the second quarter. Insight Inv LLC now owns 20,495 shares of the insurance provider’s stock valued at $1,621,000 after purchasing an additional 950 shares in the last quarter. Wedbush Securities Inc. raised its position in shares of W. R. Berkley by 4.3% during the second quarter. Wedbush Securities Inc. now owns 9,979 shares of the insurance provider’s stock worth $784,000 after acquiring an additional 408 shares during the last quarter. Prudential PLC lifted its stake in shares of W. R. Berkley by 205.9% during the second quarter. Prudential PLC now owns 68,526 shares of the insurance provider’s stock valued at $5,385,000 after acquiring an additional 46,125 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in W. R. Berkley by 32.1% in the second quarter. Ashton Thomas Private Wealth LLC now owns 3,134 shares of the insurance provider’s stock valued at $246,000 after acquiring an additional 761 shares during the last quarter. Finally, Mount Lucas Management LP acquired a new stake in W. R. Berkley in the second quarter worth about $2,161,000. Institutional investors and hedge funds own 68.82% of the company’s stock.

W. R. Berkley Price Performance

NYSE WRB opened at $58.49 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market cap of $22.26 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.08 and a beta of 0.62. The business has a 50 day simple moving average of $57.00 and a 200 day simple moving average of $55.36. W. R. Berkley Co. has a 52-week low of $41.31 and a 52-week high of $61.28.

W. R. Berkley (NYSE:WRB) last issued its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.12. The business had revenue of $3.31 billion for the quarter, compared to analyst estimates of $2.84 billion. W. R. Berkley had a net margin of 12.05% and a return on equity of 21.34%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $1.14 earnings per share. Analysts anticipate that W. R. Berkley Co. will post 4.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WRB. TD Cowen started coverage on shares of W. R. Berkley in a research report on Monday, July 1st. They set a “buy” rating and a $68.67 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $57.00 price objective on shares of W. R. Berkley in a research note on Tuesday, July 23rd. Truist Financial upped their target price on shares of W. R. Berkley from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com lowered W. R. Berkley from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Barclays initiated coverage on W. R. Berkley in a report on Wednesday, September 4th. They issued an “underweight” rating and a $56.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, W. R. Berkley currently has an average rating of “Hold” and an average price target of $59.67.

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.