Belpointe Asset Management LLC Trims Stock Holdings in W.R. Berkley Corporation $WRB

Belpointe Asset Management LLC lessened its stake in shares of W.R. Berkley Corporation (NYSE:WRB) by 10.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,245 shares of the insurance provider’s stock after selling 5,063 shares during the quarter. Belpointe Asset Management LLC’s holdings in W.R. Berkley were worth $3,030,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WRB. Baird Financial Group Inc. raised its position in shares of W.R. Berkley by 1.8% in the first quarter. Baird Financial Group Inc. now owns 7,997 shares of the insurance provider’s stock valued at $569,000 after buying an additional 141 shares during the last quarter. Mather Group LLC. grew its stake in W.R. Berkley by 2.5% in the 1st quarter. Mather Group LLC. now owns 5,929 shares of the insurance provider’s stock worth $422,000 after acquiring an additional 142 shares during the period. Avior Wealth Management LLC raised its holdings in W.R. Berkley by 2.0% in the 1st quarter. Avior Wealth Management LLC now owns 8,029 shares of the insurance provider’s stock valued at $571,000 after acquiring an additional 155 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of W.R. Berkley by 4.7% during the 2nd quarter. Parallel Advisors LLC now owns 3,616 shares of the insurance provider’s stock worth $266,000 after purchasing an additional 161 shares during the period. Finally, Bleakley Financial Group LLC boosted its holdings in shares of W.R. Berkley by 0.7% during the first quarter. Bleakley Financial Group LLC now owns 23,237 shares of the insurance provider’s stock worth $1,654,000 after purchasing an additional 162 shares during the last quarter. 68.82% of the stock is currently owned by hedge funds and other institutional investors.

W.R. Berkley Stock Up 0.1%

WRB opened at $76.97 on Tuesday. W.R. Berkley Corporation has a 1 year low of $55.97 and a 1 year high of $77.58. The firm has a 50 day moving average price of $72.36 and a 200 day moving average price of $71.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market cap of $29.19 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 2.66 and a beta of 0.42.

W.R. Berkley (NYSE:WRB) last released its quarterly earnings data on Monday, July 21st. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. W.R. Berkley had a net margin of 12.32% and a return on equity of 18.83%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the firm earned $1.04 earnings per share. Sell-side analysts expect that W.R. Berkley Corporation will post 4.33 earnings per share for the current year.

W.R. Berkley Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, September 22nd. W.R. Berkley’s payout ratio is currently 8.20%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wolfe Research assumed coverage on W.R. Berkley in a research note on Monday, September 15th. They issued a “peer perform” rating for the company. Wells Fargo & Company lowered their price target on W.R. Berkley from $71.00 to $68.00 and set an “equal weight” rating for the company in a report on Tuesday, July 22nd. UBS Group increased their price objective on shares of W.R. Berkley from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Weiss Ratings restated a “buy (b)” rating on shares of W.R. Berkley in a report on Saturday, September 27th. Finally, Barclays upped their price target on shares of W.R. Berkley from $62.00 to $66.00 and gave the stock an “underweight” rating in a research report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $72.54.

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.