Maridea Wealth Management LLC Makes New $517,000 Investment in W.R. Berkley Corporation $WRB

Key Points

• Maridea Wealth Management LLC has made a new investment in W.R. Berkley Corporation, acquiring 7,039 shares valued at approximately $517,000.
• The company recently declared a quarterly dividend of $0.09 per share, with a payout ratio of 8.20% and a dividend yield of 0.5%.
• W.R. Berkley reported quarterly earnings of $1.05 per share, beating analysts' expectations of $1.03, with revenue matching the forecast at $3.10 billion.

Maridea Wealth Management LLC acquired a new stake in W.R. Berkley Corporation (NYSE:WRB - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,039 shares of the insurance provider's stock, valued at approximately $517,000.

Several other institutional investors have also recently made changes to their positions in WRB. Spectrum Wealth Counsel LLC purchased a new stake in W.R. Berkley in the first quarter valued at $29,000. Garde Capital Inc. acquired a new position in shares of W.R. Berkley in the 1st quarter valued at about $30,000. N.E.W. Advisory Services LLC purchased a new stake in shares of W.R. Berkley in the first quarter worth about $36,000. Keystone Global Partners LLC acquired a new stake in W.R. Berkley during the first quarter worth about $41,000. Finally, MAI Capital Management raised its position in W.R. Berkley by 191.1% during the first quarter. MAI Capital Management now owns 847 shares of the insurance provider's stock valued at $60,000 after acquiring an additional 556 shares in the last quarter. Hedge funds and other institutional investors own 68.82% of the company's stock.

W.R. Berkley Stock Down 0.3%

WRB stock opened at $74.62 on Friday. W.R. Berkley Corporation has a 52 week low of $55.80 and a 52 week high of $76.38. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.31. The firm has a 50-day simple moving average of $71.26 and a 200-day simple moving average of $70.56. The stock has a market capitalization of $28.30 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.59 and a beta of 0.41.

W.R. Berkley (NYSE:WRB - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. W.R. Berkley had a return on equity of 18.83% and a net margin of 12.32%.The company had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.10 billion. During the same period in the previous year, the firm posted $1.04 EPS. Equities analysts forecast that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, September 22nd. W.R. Berkley's payout ratio is presently 8.20%.

Wall Street Analysts Forecast Growth

WRB has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price objective on shares of W.R. Berkley from $71.00 to $68.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 22nd. Cantor Fitzgerald raised shares of W.R. Berkley to a "strong-buy" rating in a report on Wednesday, August 13th. Barclays lifted their price objective on shares of W.R. Berkley from $62.00 to $66.00 and gave the company an "underweight" rating in a report on Monday, July 7th. TD Cowen lowered shares of W.R. Berkley from a "buy" rating to a "hold" rating and set a $78.00 target price on the stock. in a research note on Friday, June 27th. Finally, Wolfe Research initiated coverage on W.R. Berkley in a research note on Monday, September 15th. They issued a "peer perform" rating for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have assigned a Hold rating and one has 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 $72.54.

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.

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