SteelPeak Wealth LLC Takes Position in W.R. Berkley Corporation $WRB

SteelPeak Wealth LLC bought a new stake in W.R. Berkley Corporation (NYSE:WRB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 34,064 shares of the insurance provider’s stock, valued at approximately $2,503,000.

Several other hedge funds have also recently made changes to their positions in the company. PUREfi Wealth LLC increased its position in shares of W.R. Berkley by 11.7% in the 2nd quarter. PUREfi Wealth LLC now owns 3,256 shares of the insurance provider’s stock valued at $239,000 after acquiring an additional 340 shares during the period. DAVENPORT & Co LLC increased its position in shares of W.R. Berkley by 12.4% in the 2nd quarter. DAVENPORT & Co LLC now owns 22,915 shares of the insurance provider’s stock valued at $1,684,000 after acquiring an additional 2,519 shares during the period. Checchi Capital Advisers LLC increased its position in shares of W.R. Berkley by 4.0% in the 2nd quarter. Checchi Capital Advisers LLC now owns 4,334 shares of the insurance provider’s stock valued at $318,000 after acquiring an additional 165 shares during the period. QRG Capital Management Inc. increased its position in shares of W.R. Berkley by 23.5% in the 2nd quarter. QRG Capital Management Inc. now owns 174,656 shares of the insurance provider’s stock valued at $12,832,000 after acquiring an additional 33,280 shares during the period. Finally, Wallington Asset Management LLC increased its position in shares of W.R. Berkley by 1.0% in the 2nd quarter. Wallington Asset Management LLC now owns 406,789 shares of the insurance provider’s stock valued at $29,887,000 after acquiring an additional 4,016 shares during the period. 68.82% of the stock is owned by institutional investors and hedge funds.

W.R. Berkley Trading Up 1.0%

WRB stock opened at $77.77 on Wednesday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average is $72.54 and its 200 day moving average is $71.36. W.R. Berkley Corporation has a 12-month low of $55.97 and a 12-month high of $77.95. The stock has a market cap of $29.50 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 2.66 and a beta of 0.42.

W.R. Berkley (NYSE:WRB) last released its earnings results on Monday, July 21st. The insurance provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the company posted $1.04 EPS. On average, sell-side analysts anticipate that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.

W.R. Berkley Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Cantor Fitzgerald raised W.R. Berkley to a “strong-buy” rating in a research report on Wednesday, August 13th. Wells Fargo & Company cut their target price on W.R. Berkley from $71.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 22nd. TD Cowen downgraded W.R. Berkley from a “buy” rating to a “hold” rating and set a $78.00 price target on the stock. in a research report on Friday, June 27th. Wolfe Research initiated coverage on W.R. Berkley in a research report on Monday, September 15th. They set a “peer perform” rating on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of W.R. Berkley in a research report on Saturday, September 27th. 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 assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $72.54.

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.