Mission Wealth Management LP Purchases 7,037 Shares of W.R. Berkley Corporation $WRB

Mission Wealth Management LP increased its position in W.R. Berkley Corporation (NYSE:WRB) by 130.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,412 shares of the insurance provider’s stock after buying an additional 7,037 shares during the quarter. Mission Wealth Management LP’s holdings in W.R. Berkley were worth $912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Hilltop National Bank bought a new stake in W.R. Berkley in the second quarter worth $27,000. Spectrum Wealth Counsel LLC bought a new stake in W.R. Berkley in the first quarter worth $29,000. N.E.W. Advisory Services LLC bought a new stake in W.R. Berkley in the first quarter worth $36,000. Keystone Global Partners LLC bought a new stake in shares of W.R. Berkley in the 1st quarter valued at about $41,000. Finally, Whipplewood Advisors LLC lifted its stake in shares of W.R. Berkley by 148.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 616 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 368 shares during the last quarter. 68.82% of the stock is currently owned by institutional investors.

W.R. Berkley Stock Up 0.6%

Shares of W.R. Berkley stock opened at $71.78 on Tuesday. W.R. Berkley Corporation has a 1 year low of $55.97 and a 1 year high of $78.48. The company has a 50-day moving average of $74.09 and a 200 day moving average of $72.39. The firm has a market cap of $27.23 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 2.73 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.37 and a quick ratio of 0.37.

W.R. Berkley (NYSE:WRB) last announced its earnings results on Monday, October 20th. The insurance provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. W.R. Berkley had a net margin of 13.01% and a return on equity of 19.35%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter last year, the firm earned $0.93 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a dividend of $0.09 per share. 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 7.56%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wolfe Research assumed coverage on W.R. Berkley in a research report on Monday, September 15th. They issued a “peer perform” rating for the company. BMO Capital Markets lowered shares of W.R. Berkley from a “market perform” rating to an “underperform” rating and set a $64.00 price target for the company. in a report on Wednesday, October 22nd. UBS Group set a $87.00 price target on shares of W.R. Berkley and gave the company a “buy” rating in a report on Wednesday, October 8th. Truist Financial set a $84.00 price target on shares of W.R. Berkley and gave the company a “buy” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of W.R. Berkley in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $74.46.

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.