Intech Investment Management LLC Sells 47,970 Shares of W.R. Berkley Corporation $WRB

Intech Investment Management LLC decreased its position in W.R. Berkley Corporation (NYSE:WRB) by 37.8% during the fourth quarter, Holdings Channel reports. The fund owned 79,036 shares of the insurance provider’s stock after selling 47,970 shares during the period. Intech Investment Management LLC’s holdings in W.R. Berkley were worth $5,542,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of WRB. Brighton Jones LLC lifted its holdings in W.R. Berkley by 75.6% in the fourth quarter. Brighton Jones LLC now owns 50,503 shares of the insurance provider’s stock valued at $2,955,000 after acquiring an additional 21,737 shares during the period. Empowered Funds LLC lifted its holdings in W.R. Berkley by 9.7% in the first quarter. Empowered Funds LLC now owns 33,990 shares of the insurance provider’s stock valued at $2,419,000 after acquiring an additional 3,013 shares during the period. Acadian Asset Management LLC lifted its holdings in W.R. Berkley by 399.0% in the first quarter. Acadian Asset Management LLC now owns 9,506 shares of the insurance provider’s stock valued at $675,000 after acquiring an additional 7,601 shares during the period. Cary Street Partners Financial LLC lifted its holdings in W.R. Berkley by 691.9% in the second quarter. Cary Street Partners Financial LLC now owns 586 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 512 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in W.R. Berkley by 12.0% in the second quarter. NewEdge Advisors LLC now owns 9,825 shares of the insurance provider’s stock valued at $722,000 after acquiring an additional 1,056 shares during the period. Institutional investors own 68.82% of the company’s stock.

W.R. Berkley Stock Performance

Shares of WRB opened at $63.48 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $66.35 and a two-hundred day simple moving average of $69.18. The stock has a market cap of $23.63 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 3.00 and a beta of 0.30. W.R. Berkley Corporation has a 52 week low of $63.35 and a 52 week high of $78.96.

W.R. Berkley (NYSE:WRB) last issued its quarterly earnings results on Tuesday, April 21st. The insurance provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.17. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.18 billion. W.R. Berkley had a return on equity of 18.92% and a net margin of 12.64%.The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 earnings per share. On average, analysts expect that W.R. Berkley Corporation will post 4.67 EPS for the current year.

Insider Activity

In other W.R. Berkley news, major shareholder Sumitomo Insurance Co L. Mitsui bought 112,176 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was purchased at an average price of $72.20 per share, for a total transaction of $8,099,107.20. Following the completion of the transaction, the insider owned 58,780,450 shares of the company’s stock, valued at $4,243,948,490. This trade represents a 0.19% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 23.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on WRB. Cantor Fitzgerald downgraded W.R. Berkley from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $75.00 to $71.00 in a report on Thursday, April 9th. Truist Financial reduced their price target on W.R. Berkley from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Wednesday, April 22nd. Evercore restated an “underperform” rating on shares of W.R. Berkley in a research report on Monday, March 9th. BMO Capital Markets upgraded W.R. Berkley from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $64.00 to $68.00 in a research report on Thursday, April 23rd. Finally, Bank of America reduced their price target on W.R. Berkley from $68.00 to $67.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Two analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, W.R. Berkley has an average rating of “Reduce” and a consensus target price of $68.81.

W.R. Berkley Company Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.