Cassaday & Co Wealth Management LLC Acquires 2,458 Shares of W. R. Berkley Co. (NYSE:WRB)

Cassaday & Co Wealth Management LLC raised its holdings in W. R. Berkley Co. (NYSE:WRB) by 71.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,880 shares of the insurance provider’s stock after buying an additional 2,458 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in W. R. Berkley were worth $334,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Corbyn Investment Management Inc. MD increased its position in W. R. Berkley by 49.7% during the third quarter. Corbyn Investment Management Inc. MD now owns 130,065 shares of the insurance provider’s stock worth $7,379,000 after acquiring an additional 43,189 shares during the period. Quest Partners LLC acquired a new position in shares of W. R. Berkley during the third quarter valued at about $610,000. TrinityPoint Wealth LLC lifted its stake in shares of W. R. Berkley by 50.9% in the third quarter. TrinityPoint Wealth LLC now owns 9,748 shares of the insurance provider’s stock valued at $553,000 after buying an additional 3,287 shares during the period. Swiss National Bank grew its position in W. R. Berkley by 49.9% during the third quarter. Swiss National Bank now owns 911,062 shares of the insurance provider’s stock worth $51,685,000 after buying an additional 303,287 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in W. R. Berkley by 44.8% during the third quarter. Thrivent Financial for Lutherans now owns 11,796 shares of the insurance provider’s stock valued at $669,000 after acquiring an additional 3,647 shares during the period. 68.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on W. R. Berkley from $63.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Evercore ISI increased their price objective on shares of W. R. Berkley from $57.00 to $60.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Truist Financial lifted their target price on shares of W. R. Berkley from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods dropped their price target on shares of W. R. Berkley from $59.00 to $58.00 and set a “market perform” rating for the company in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price objective on W. R. Berkley from $57.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $63.08.

W. R. Berkley Price Performance

W. R. Berkley stock opened at $60.83 on Tuesday. The business’s fifty day moving average is $58.46 and its two-hundred day moving average is $56.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a market cap of $23.18 billion, a P/E ratio of 15.60, a P/E/G ratio of 1.21 and a beta of 0.62. W. R. Berkley Co. has a 52 week low of $45.75 and a 52 week high of $61.96.

W. R. Berkley (NYSE:WRB) last issued its quarterly earnings data on Monday, October 21st. The insurance provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. W. R. Berkley had a net margin of 11.96% and a return on equity of 20.41%. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s revenue was up 10.8% on a year-over-year basis. Equities research analysts forecast that W. R. Berkley Co. will post 3.96 earnings per share for the current fiscal year.

W. R. Berkley Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.53%. The ex-dividend date was Monday, September 23rd. W. R. Berkley’s dividend payout ratio is 8.21%.

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.