W.R. Berkley Corporation $WRB Position Reduced by Mission Wealth Management LP

Mission Wealth Management LP reduced its position in W.R. Berkley Corporation (NYSE:WRB) by 61.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,733 shares of the insurance provider’s stock after selling 7,679 shares during the quarter. Mission Wealth Management LP’s holdings in W.R. Berkley were worth $363,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Twin Peaks Wealth Advisors LLC purchased a new position in W.R. Berkley during the 2nd quarter worth approximately $27,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of W.R. Berkley in the second quarter worth $34,000. Cary Street Partners Financial LLC boosted its position in shares of W.R. Berkley by 691.9% in the second 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 during the period. Whipplewood Advisors LLC grew 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 buying an additional 368 shares in the last quarter. Finally, REAP Financial Group LLC raised its position in W.R. Berkley by 148.2% during the second quarter. REAP Financial Group LLC now owns 633 shares of the insurance provider’s stock valued at $46,000 after buying an additional 378 shares during the period. Hedge funds and other institutional investors own 68.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Mizuho decreased their price objective on W.R. Berkley from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Tuesday, January 27th. Morgan Stanley set a $73.00 price target on shares of W.R. Berkley in a report on Wednesday, January 28th. Truist Financial set a $80.00 target price on shares of W.R. Berkley and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Weiss Ratings restated a “buy (b)” rating on shares of W.R. Berkley in a report on Wednesday, January 21st. Finally, Jefferies Financial Group cut their price objective on W.R. Berkley from $75.00 to $70.00 and set a “hold” rating for the company in a report on Tuesday, January 27th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, W.R. Berkley has an average rating of “Hold” and an average target price of $69.67.

Insider Buying and Selling

In other news, major shareholder Sumitomo Insurance Co L. Mitsui purchased 370,000 shares of the company’s stock in a transaction dated Monday, January 26th. The shares were bought at an average price of $67.07 per share, with a total value of $24,815,900.00. Following the completion of the transaction, the insider directly owned 54,959,504 shares in the company, valued at $3,686,133,933.28. This trade represents a 0.68% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 7,612,068 shares of company stock worth $522,913,948 in the last 90 days. Company insiders own 23.30% of the company’s stock.

W.R. Berkley Stock Up 1.6%

WRB stock opened at $71.28 on Friday. The firm has a market cap of $27.09 billion, a PE ratio of 16.02, a PEG ratio of 2.91 and a beta of 0.37. W.R. Berkley Corporation has a 1 year low of $59.55 and a 1 year high of $78.96. The company has a fifty day simple moving average of $69.35 and a 200 day simple moving average of $72.03. 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 (NYSE:WRB) last posted its earnings results on Monday, January 26th. The insurance provider reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.01). The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. W.R. Berkley had a net margin of 12.10% and a return on equity of 18.35%. W.R. Berkley’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $1.13 earnings per share. Sell-side analysts anticipate that W.R. Berkley Corporation will post 4.33 EPS 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. Shareholders of record on Monday, December 15th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was 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 is presently 8.09%.

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.