GeoWealth Management LLC Acquires New Position in W.R. Berkley Corporation $WRB

GeoWealth Management LLC acquired a new position in shares of W.R. Berkley Corporation (NYSE:WRB) during the 2nd quarter, HoldingsChannel reports. The firm acquired 14,198 shares of the insurance provider’s stock, valued at approximately $1,043,000.

A number of other large investors have also recently bought and sold shares of WRB. EverSource Wealth Advisors LLC boosted its stake in W.R. Berkley by 2.3% in the second quarter. EverSource Wealth Advisors LLC now owns 8,308 shares of the insurance provider’s stock valued at $610,000 after acquiring an additional 186 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of W.R. Berkley in the 2nd quarter worth approximately $27,000. Westerkirk Capital Inc. bought a new stake in shares of W.R. Berkley in the 2nd quarter worth approximately $411,000. M&T Bank Corp boosted its position in W.R. Berkley by 11.0% during the 2nd quarter. M&T Bank Corp now owns 20,973 shares of the insurance provider’s stock valued at $1,540,000 after purchasing an additional 2,081 shares during the period. Finally, Trustmark Bank Trust Department grew its stake in W.R. Berkley by 106.3% during the 2nd quarter. Trustmark Bank Trust Department now owns 7,249 shares of the insurance provider’s stock worth $533,000 after buying an additional 3,735 shares during the last quarter. Institutional investors own 68.82% of the company’s stock.

W.R. Berkley Stock Down 6.0%

W.R. Berkley stock opened at $66.64 on Friday. W.R. Berkley Corporation has a 52 week low of $55.97 and a 52 week high of $78.96. The stock has a market cap of $25.33 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 2.71 and a beta of 0.37. The company’s 50-day moving average price is $75.37 and its two-hundred day moving average price is $73.02. 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 quarterly earnings data on Monday, October 20th. The insurance provider reported $1.10 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period last year, the firm posted $0.93 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. On average, analysts expect that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.

W.R. Berkley Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid 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 presently 7.56%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. UBS Group reiterated a “neutral” rating and issued a $87.00 target price on shares of W.R. Berkley in a research note on Friday, November 7th. Truist Financial set a $84.00 price objective on shares of W.R. Berkley and gave the stock a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of W.R. Berkley in a research note on Wednesday, October 8th. 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 on the stock. in a research note on Wednesday, October 22nd. Finally, Barclays reaffirmed an “underweight” rating and set a $73.00 price target on shares of W.R. Berkley in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, W.R. Berkley presently has an average rating of “Hold” and an average target price of $74.85.

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.