Tokio Marine Asset Management Co. Ltd. Buys 3,216 Shares of W. R. Berkley Co. (NYSE:WRB)

Tokio Marine Asset Management Co. Ltd. boosted its position in W. R. Berkley Co. (NYSE:WRB) by 50.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 9,649 shares of the insurance provider’s stock after purchasing an additional 3,216 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in W. R. Berkley were worth $547,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WRB. Oppenheimer & Co. Inc. purchased a new stake in W. R. Berkley during the first quarter valued at approximately $201,000. US Bancorp DE increased its stake in shares of W. R. Berkley by 6.7% in the 1st quarter. US Bancorp DE now owns 10,841 shares of the insurance provider’s stock worth $959,000 after purchasing an additional 682 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in W. R. Berkley by 29.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,132 shares of the insurance provider’s stock worth $542,000 after purchasing an additional 1,399 shares during the period. Vanguard Group Inc. grew its holdings in W. R. Berkley by 0.8% during the first quarter. Vanguard Group Inc. now owns 24,439,361 shares of the insurance provider’s stock valued at $2,161,417,000 after purchasing an additional 195,763 shares during the period. Finally, Cynosure Group LLC purchased a new stake in W. R. Berkley in the first quarter worth about $325,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.

Wall Street Analyst Weigh In

WRB has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price objective on W. R. Berkley from $57.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of W. R. Berkley from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Truist Financial raised their price objective on shares of W. R. Berkley from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Bank of America upped their target price on shares of W. R. Berkley from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company raised their price target on W. R. Berkley from $63.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $63.08.

W. R. Berkley Price Performance

NYSE:WRB opened at $60.74 on Friday. The company has a current ratio of 0.36, a quick 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. The business’s 50-day moving average is $58.46 and its 200 day moving average is $56.15. The company has a market capitalization of $23.15 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.20 and a beta of 0.62.

W. R. Berkley (NYSE:WRB) last released 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. W. R. Berkley had a net margin of 11.96% and a return on equity of 20.41%. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the business earned $0.90 earnings per share. W. R. Berkley’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts forecast that W. R. Berkley Co. will post 3.96 earnings per share for the current fiscal year.

W. R. Berkley Announces Dividend

The business also recently disclosed 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 was Monday, September 23rd. This represents a $0.32 annualized dividend and a yield of 0.53%. W. R. Berkley’s payout ratio is currently 8.20%.

About W. R. Berkley

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.