Coastline Trust Co Takes $47,000 Position in W. R. Berkley Co. (NYSE:WRB)

Coastline Trust Co bought a new stake in W. R. Berkley Co. (NYSE:WRB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 821 shares of the insurance provider’s stock, valued at approximately $47,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MJP Associates Inc. ADV grew its position in shares of W. R. Berkley by 4.0% in the second quarter. MJP Associates Inc. ADV now owns 4,915 shares of the insurance provider’s stock valued at $386,000 after purchasing an additional 188 shares during the last quarter. Atria Investments Inc grew its holdings in 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 buying an additional 189 shares during the last quarter. Kiely Wealth Advisory Group Inc. increased its position in 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 worth $46,000 after buying an additional 193 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of W. R. Berkley by 0.5% in the second 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 during the period. Finally, Armstrong Advisory Group Inc. grew its stake in shares of W. R. Berkley by 51.0% in the third quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider’s stock worth $35,000 after acquiring an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 68.82% of the company’s stock.

W. R. Berkley Price Performance

NYSE:WRB opened at $60.74 on Friday. The firm has a market cap of $23.15 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.20 and a beta of 0.62. The company’s 50-day moving average price is $58.46 and its two-hundred day moving average price is $56.15. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.34. W. R. Berkley Co. has a 12 month low of $45.75 and a 12 month high of $61.96.

W. R. Berkley (NYSE:WRB) last released its quarterly earnings results on Monday, October 21st. The insurance provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.93 billion. W. R. Berkley had a return on equity of 20.41% and a net margin of 11.96%. W. R. Berkley’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. On average, equities analysts anticipate that W. R. Berkley Co. will post 3.96 EPS for the current fiscal year.

W. R. Berkley Announces Dividend

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

Wall Street Analysts Forecast Growth

WRB has been the subject of several research analyst reports. Barclays assumed coverage on shares of W. R. Berkley in a research note on Wednesday, September 4th. They set an “underweight” rating and a $56.00 target price for the company. UBS Group increased their target price on shares of W. R. Berkley from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods cut their price target 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. Bank of America lifted their price objective on W. R. Berkley from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Evercore ISI upped their target price on W. R. Berkley from $57.00 to $60.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $63.08.

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.