Carmel Capital Partners LLC Has $351,000 Stake in W. R. Berkley Co. (NYSE:WRB)

Carmel Capital Partners LLC raised its position in W. R. Berkley Co. (NYSE:WRB) by 50.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,187 shares of the insurance provider’s stock after purchasing an additional 2,062 shares during the period. Carmel Capital Partners LLC’s holdings in W. R. Berkley were worth $351,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MJP Associates Inc. ADV grew its holdings in shares of W. R. Berkley by 4.0% in the 2nd quarter. MJP Associates Inc. ADV now owns 4,915 shares of the insurance provider’s stock valued at $386,000 after acquiring an additional 188 shares in the last quarter. Atria Investments Inc grew its holdings in shares of W. R. Berkley by 0.4% in the 1st quarter. Atria Investments Inc now owns 50,637 shares of the insurance provider’s stock valued at $4,478,000 after acquiring an additional 189 shares in the last quarter. Kiely Wealth Advisory Group Inc. grew its holdings in shares of 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 valued at $46,000 after acquiring an additional 193 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of W. R. Berkley by 0.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 39,857 shares of the insurance provider’s stock valued at $3,132,000 after acquiring an additional 202 shares in the last quarter. Finally, Armstrong Advisory Group Inc. grew its holdings in shares of W. R. Berkley by 51.0% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 209 shares in the last quarter. Institutional investors and hedge funds own 68.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on WRB shares. Barclays started coverage on W. R. Berkley in a report on Wednesday, September 4th. They set an “underweight” rating and a $56.00 price target for the company. Jefferies Financial Group lifted their price target on W. R. Berkley from $53.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. UBS Group boosted their price objective on W. R. Berkley from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods reduced their price objective on W. R. Berkley from $59.00 to $58.00 and set a “market perform” rating for the company in a report on Tuesday, October 22nd. Finally, Truist Financial boosted their price objective on W. R. Berkley from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $63.08.

W. R. Berkley Stock Up 1.6 %

Shares of WRB opened at $60.55 on Friday. W. R. Berkley Co. has a one year low of $44.88 and a one year high of $61.96. The company has a market cap of $23.04 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.14 and a beta of 0.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a 50 day simple moving average of $58.40 and a two-hundred day simple moving average of $55.85.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Monday, October 21st. The insurance provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.92 by $0.01. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.93 billion. W. R. Berkley had a net margin of 11.96% and a return on equity of 20.91%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 earnings per share. Research analysts forecast that W. R. Berkley Co. will post 3.96 EPS for the current fiscal year.

W. R. Berkley Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.53%. W. R. Berkley’s payout ratio is presently 8.20%.

W. R. Berkley Company 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.