AE Wealth Management LLC sells 438 shares of WR Berkley Co. (NYSE:WRB)

AE Wealth Management LLC reduced its position in WR Berkley Co. (NYSE:WRB – Free Report) by 14.3% during the second quarter, according to the company in its most recent SEC disclosure. The firm owned 2,617 shares of the insurance provider’s stock after selling 438 shares during the quarter. AE Wealth Management LLC’s holdings in WR Berkley were worth $206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sound Income Strategies LLC boosted its holdings in shares of WR Berkley by 563.2% in the first quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 383 shares in the last quarter. Intelligent Financial Strategies purchased a new position in shares of WR Berkley in the first quarter worth $44,000. Covestor Ltd grew its position in shares of WR Berkley by 173.0% in the first quarter. Covestor Ltd now owns 546 shares of the insurance provider’s stock valued at $48,000 after acquiring an additional 346 shares during the period. Evermay Wealth Management LLC bought a new position in WR Berkley in the first quarter worth $65,000. Finally, Mascoma Wealth Management LLC bought a new position in WR Berkley in the second quarter valued at $62,000. 68.82% of the shares are owned by hedge funds and other institutional investors.

WR Berkley stock down 0.4%

WRB opened at $56.51 on Friday. WR Berkley Co. it has a 52-week low of $41.37 and a 52-week high of $61.28. The company has a quick ratio of 0.38, a current ratio of 0.38, and a debt-to-equity ratio of 0.36. The firm has a 50 day simple moving average of $56.99 and a two hundred day simple moving average of $72.20. The company has a market cap of $21.67 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 1.05 and a beta of 0.62.

WR Berkley (NYSE:WRB – Get Free Report ) last posted its quarterly earnings results on Monday, July 22nd. The insurance provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.12. The business had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $2.84 billion. WR Berkley had a return on equity of 21.34% and a net margin of 12.05%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. In the same quarter last year, the business posted EPS of $1.14. Analysts estimate that WR Berkley Co. will record 4.03 earnings per share for the current fiscal year.

WR Berkley Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents an annualized dividend of $0.32 and a yield of 0.57%. WR Berkley’s dividend payout ratio (DPR) is currently 8.51%.

Analyst upgrades and downgrades

WRB has been the subject of several analyst reports. Barclays started coverage on WR Berkley in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $56.00 target price for the company. Truist Financial boosted their target price on shares of WR Berkley from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded shares of WR Berkley from a “hold” rating to a “buy” rating in a research report on Wednesday. Goldman Sachs Group downgraded shares of WR Berkley from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $88.00 to $83.00 in a research report on Thursday , June 13. Finally, TD Cowen began coverage on shares of WR Berkley in a research note on Monday, July 1st. They set a “buy” rating and a $103.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $77.70, according to MarketBeat.com.

Get the latest research report on WRB

WR Berkley Profile

(Free Report)

WR Berkley Corporation, an insurance holding company, operates as commercial lines writers worldwide. It operates in two segments, Insurance and Reinsurance and Monoline Excess. The Insurance segment underwrites commercial insurance business, including excess and surplus lines, admitted lines and specialty personal lines.

Further reading

Get news and ratings for WR Berkley Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for WR Berkley and related companies with MarketBeat.com’s FREE daily email newsletter.