Cresset Asset Management LLC Acquires 17,354 Shares of W.R. Berkley Corporation $WRB

Cresset Asset Management LLC increased its holdings in shares of W.R. Berkley Corporation (NYSE:WRB) by 394.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,757 shares of the insurance provider’s stock after purchasing an additional 17,354 shares during the quarter. Cresset Asset Management LLC’s holdings in W.R. Berkley were worth $1,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Hilltop National Bank purchased a new position in W.R. Berkley in the 2nd quarter worth about $27,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of W.R. Berkley during the second quarter valued at approximately $27,000. Elevation Point Wealth Partners LLC bought a new position in W.R. Berkley during the second quarter valued at approximately $34,000. Keystone Global Partners LLC purchased a new stake in W.R. Berkley in the first quarter worth approximately $41,000. Finally, Whipplewood Advisors LLC raised its stake in W.R. Berkley by 148.4% during the 2nd quarter. Whipplewood Advisors LLC now owns 616 shares of the insurance provider’s stock valued at $45,000 after buying an additional 368 shares during the last quarter. 68.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WRB has been the subject of several research analyst reports. BMO Capital Markets lowered W.R. Berkley from a “market perform” rating to an “underperform” rating and set a $64.00 price objective for the company. in a report on Wednesday, October 22nd. Jefferies Financial Group cut their price target on 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. Wolfe Research began coverage on shares of W.R. Berkley in a research report on Monday, September 15th. They set a “peer perform” rating for the company. Morgan Stanley set a $80.00 price objective on shares of W.R. Berkley in a report on Monday, November 17th. Finally, Truist Financial set a $84.00 target price on shares of W.R. Berkley and gave the company a “buy” rating in a research report on Tuesday, October 21st. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, W.R. Berkley currently has a consensus rating of “Hold” and an average target price of $74.85.

W.R. Berkley Price Performance

NYSE WRB opened at $66.95 on Wednesday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.29. W.R. Berkley Corporation has a 12 month low of $55.97 and a 12 month high of $78.96. The stock has a market cap of $25.44 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 2.54 and a beta of 0.37. The company’s 50 day moving average is $74.98 and its two-hundred day moving average is $72.93.

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

W.R. Berkley Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Monday, December 15th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. W.R. Berkley’s dividend payout ratio (DPR) is currently 7.56%.

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.