W.R. Berkley Corporation $WRB Shares Acquired by SteelPeak Wealth LLC

SteelPeak Wealth LLC raised its holdings in W.R. Berkley Corporation (NYSE:WRB) by 24.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,311 shares of the insurance provider’s stock after purchasing an additional 8,247 shares during the period. SteelPeak Wealth LLC’s holdings in W.R. Berkley were worth $3,242,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Hilltop National Bank bought a new position in W.R. Berkley during the 2nd quarter worth approximately $27,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of W.R. Berkley during the second quarter valued at approximately $27,000. Elevation Point Wealth Partners LLC acquired a new position in shares of W.R. Berkley during the second quarter worth approximately $34,000. Cary Street Partners Financial LLC grew its holdings in W.R. Berkley by 691.9% in the 2nd quarter. Cary Street Partners Financial LLC now owns 586 shares of the insurance provider’s stock worth $43,000 after buying an additional 512 shares in the last quarter. Finally, Whipplewood Advisors LLC increased its holdings in shares of W.R. Berkley by 148.4% during the second quarter. Whipplewood Advisors LLC now owns 616 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 368 shares during the period. Institutional investors own 68.82% of the company’s stock.

W.R. Berkley Trading Down 1.0%

Shares of NYSE WRB opened at $70.10 on Friday. The stock has a market cap of $26.64 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 2.68 and a beta of 0.39. The business has a 50 day simple moving average of $72.81 and a 200 day simple moving average of $72.48. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.37 and a current ratio of 0.37. W.R. Berkley Corporation has a 52 week low of $55.97 and a 52 week high of $78.96.

W.R. Berkley (NYSE:WRB) last posted its earnings results on Monday, October 20th. The insurance provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. W.R. Berkley had a net margin of 13.01% and a return on equity of 18.86%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm posted $0.93 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, research analysts predict that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.5%. The ex-dividend date was Monday, December 15th. W.R. Berkley’s payout ratio is 7.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Mizuho set a $67.00 price objective on shares of W.R. Berkley and gave the stock a “neutral” rating in a report on Monday, December 15th. Wolfe Research began coverage on shares of W.R. Berkley in a research note on Monday, September 15th. They issued a “peer perform” rating on the stock. Jefferies Financial Group cut their target price on shares of W.R. Berkley from $76.00 to $75.00 and set a “hold” rating for the company in a research note on Tuesday, October 21st. Truist Financial set a $84.00 price target on W.R. Berkley and gave the company a “buy” rating in a research report on Tuesday, October 21st. Finally, UBS Group reissued a “neutral” rating and issued a $87.00 price target on shares of W.R. Berkley in a research note on Friday, November 7th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, W.R. Berkley presently has an average rating of “Hold” and an average price target of $73.93.

Insider Transactions at W.R. Berkley

In related news, major shareholder Sumitomo Insurance Co L. Mitsui purchased 205,000 shares of the stock in a transaction on Monday, December 29th. The shares were bought at an average price of $70.77 per share, for a total transaction of $14,507,850.00. Following the completion of the acquisition, the insider directly owned 50,091,511 shares in the company, valued at approximately $3,544,976,233.47. This trade represents a 0.41% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 1,489,923 shares of company stock worth $104,586,746 over the last three months. 23.30% of the stock is owned by corporate insiders.

W.R. Berkley Company Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.