SteelPeak Wealth LLC Takes $2.50 Million Position in W.R. Berkley Corporation $WRB

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

Other hedge funds have also recently modified their holdings of the company. Hilltop National Bank bought a new position in shares of W.R. Berkley during the second quarter valued at approximately $27,000. Spectrum Wealth Counsel LLC bought a new position in shares of W.R. Berkley during the first quarter valued at approximately $29,000. Garde Capital Inc. bought a new position in shares of W.R. Berkley during the first quarter valued at approximately $30,000. N.E.W. Advisory Services LLC bought a new position in shares of W.R. Berkley during the first quarter valued at approximately $36,000. Finally, Keystone Global Partners LLC purchased a new stake in shares of W.R. Berkley in the first quarter valued at approximately $41,000. Institutional investors own 68.82% of the company’s stock.

W.R. Berkley Stock Up 1.0%

W.R. Berkley stock opened at $77.77 on Wednesday. The business has a fifty day moving average of $72.54 and a two-hundred day moving average of $71.36. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.31. The firm has a market cap of $29.50 billion, a P/E ratio of 17.71, a P/E/G ratio of 2.66 and a beta of 0.42. W.R. Berkley Corporation has a twelve month low of $55.97 and a twelve month high of $77.95.

W.R. Berkley (NYSE:WRB) last posted 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. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.10 billion. W.R. Berkley had a return on equity of 18.83% and a net margin of 12.32%.During the same quarter in the prior year, the business earned $1.04 earnings per share. On average, analysts forecast that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, September 22nd. W.R. Berkley’s dividend payout ratio is currently 8.20%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WRB shares. Weiss Ratings reiterated a “buy (b)” rating on shares of W.R. Berkley in a report on Saturday, September 27th. Wells Fargo & Company lowered their price target on W.R. Berkley from $71.00 to $68.00 and set an “equal weight” rating for the company in a report on Tuesday, July 22nd. Wolfe Research started coverage on W.R. Berkley in a report on Monday, September 15th. They issued a “peer perform” rating for the company. Barclays boosted their price target on W.R. Berkley from $62.00 to $66.00 and gave the company an “underweight” rating in a report on Monday, July 7th. Finally, UBS Group boosted their price target on W.R. Berkley from $78.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $72.54.

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.