iA Global Asset Management Inc. Reduces Stock Position in W. R. Berkley Co. (NYSE:WRB)

iA Global Asset Management Inc. lowered its holdings in shares of W. R. Berkley Co. (NYSE:WRB) by 21.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,785 shares of the insurance provider’s stock after selling 5,647 shares during the quarter. iA Global Asset Management Inc.’s holdings in W. R. Berkley were worth $1,216,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of WRB. Oppenheimer & Co. Inc. purchased a new position in W. R. Berkley during the 3rd quarter valued at $235,000. Mutual of America Capital Management LLC boosted its holdings in W. R. Berkley by 45.3% during the 3rd quarter. Mutual of America Capital Management LLC now owns 37,022 shares of the insurance provider’s stock valued at $2,100,000 after acquiring an additional 11,551 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of W. R. Berkley by 44.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 11,796 shares of the insurance provider’s stock worth $669,000 after buying an additional 3,647 shares during the period. Quest Partners LLC purchased a new stake in shares of W. R. Berkley in the 3rd quarter worth $610,000. Finally, Pathstone Holdings LLC lifted its holdings in shares of W. R. Berkley by 57.0% in the 3rd quarter. Pathstone Holdings LLC now owns 36,857 shares of the insurance provider’s stock worth $2,091,000 after buying an additional 13,385 shares during the period. Hedge funds and other institutional investors own 68.82% of the company’s stock.

W. R. Berkley Trading Down 0.6 %

Shares of NYSE:WRB opened at $63.21 on Friday. The business’s 50-day moving average is $60.99 and its 200 day moving average is $59.92. W. R. Berkley Co. has a 1 year low of $50.73 and a 1 year high of $65.49. The firm has a market capitalization of $23.97 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.56 and a beta of 0.63. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.36 and a quick ratio of 0.36.

W. R. Berkley (NYSE:WRB) last announced its earnings results on Monday, January 27th. The insurance provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.18. W. R. Berkley had a return on equity of 20.83% and a net margin of 12.88%. On average, research analysts predict that W. R. Berkley Co. will post 4.33 earnings per share for the current fiscal year.

W. R. Berkley Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Monday, March 3rd were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, March 3rd. W. R. Berkley’s dividend payout ratio is presently 7.34%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on WRB shares. StockNews.com cut W. R. Berkley from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $63.00 target price on shares of W. R. Berkley in a report on Tuesday, January 28th. Keefe, Bruyette & Woods upped their target price on W. R. Berkley from $60.00 to $61.00 and gave the stock a “market perform” rating in a report on Tuesday, January 28th. Wells Fargo & Company upped their target price on W. R. Berkley from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley began coverage on W. R. Berkley in a report on Thursday, December 5th. They issued an “equal weight” rating and a $65.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $64.36.

W. R. Berkley Company 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.