Principal Financial Group Inc. Acquires 9,792 Shares of W. R. Berkley Co. (NYSE:WRB)

Principal Financial Group Inc. lifted its holdings in shares of W. R. Berkley Co. (NYSE:WRBFree Report) by 4.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 243,652 shares of the insurance provider’s stock after purchasing an additional 9,792 shares during the period. Principal Financial Group Inc.’s holdings in W. R. Berkley were worth $15,469,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Clear Street Markets LLC boosted its holdings in W. R. Berkley by 92.3% in the first quarter. Clear Street Markets LLC now owns 398 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 191 shares during the last quarter. Allworth Financial LP boosted its holdings in W. R. Berkley by 287.9% in the second quarter. Allworth Financial LP now owns 415 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 308 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in W. R. Berkley in the fourth quarter valued at about $32,000. First Manhattan Co. boosted its holdings in W. R. Berkley by 50.0% in the first quarter. First Manhattan Co. now owns 486 shares of the insurance provider’s stock valued at $32,000 after acquiring an additional 162 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in W. R. Berkley by 232.9% in the second quarter. Farther Finance Advisors LLC now owns 496 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 347 shares during the last quarter. Institutional investors own 66.34% of the company’s stock.

Analyst Upgrades and Downgrades

WRB has been the topic of several recent research reports. BMO Capital Markets raised their price target on W. R. Berkley from $71.00 to $81.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Royal Bank of Canada increased their target price on W. R. Berkley from $73.00 to $79.00 and gave the company a “sector perform” rating in a research note on Thursday, January 25th. StockNews.com initiated coverage on W. R. Berkley in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. UBS Group increased their target price on W. R. Berkley from $81.00 to $93.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods increased their target price on W. R. Berkley from $79.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.56.

View Our Latest Stock Analysis on WRB

W. R. Berkley Trading Up 0.6 %

NYSE WRB opened at $81.64 on Wednesday. The firm has a market cap of $21.05 billion, a P/E ratio of 16.13, a P/E/G ratio of 1.53 and a beta of 0.57. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.39 and a quick ratio of 0.39. The stock’s 50-day moving average is $73.01 and its 200-day moving average is $67.21. W. R. Berkley Co. has a one year low of $55.50 and a one year high of $85.01.

W. R. Berkley (NYSE:WRBGet Free Report) last announced its earnings results on Wednesday, January 24th. The insurance provider reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. W. R. Berkley had a return on equity of 19.40% and a net margin of 11.38%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the firm earned $1.16 EPS. W. R. Berkley’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that W. R. Berkley Co. will post 5.91 earnings per share for the current fiscal year.

W. R. Berkley Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Monday, December 18th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Friday, December 15th. W. R. Berkley’s dividend payout ratio is presently 8.70%.

About W. R. Berkley

(Free Report)

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates in two segments, Insurance and Reinsurance & Monoline Excess. The Insurance segment underwrites commercial insurance business, including premises operations, commercial automobile, property, products liability, and general and professional liability lines.

See Also

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Institutional Ownership by Quarter for W. R. Berkley (NYSE:WRB)

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