MGO One Seven LLC Raises Holdings in W.R. Berkley Corporation $WRB

Key Points

• MGO One Seven LLC increased its holdings in W.R. Berkley Corporation by 144.3% during the 2nd quarter, owning a total of 28,840 shares valued at $2,119,000.
• W.R. Berkley recently announced a quarterly dividend of $0.09 per share, resulting in an annualized yield of 0.5%, with a payout ratio of 8.20%.
• The company's stock has shown a price range between $55.97 and $78.48 over the past year, with recent earnings per share reported at $1.05, surpassing analysts' expectations.

MGO One Seven LLC increased its position in W.R. Berkley Corporation (NYSE:WRB - Free Report) by 144.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,840 shares of the insurance provider's stock after buying an additional 17,033 shares during the quarter. MGO One Seven LLC's holdings in W.R. Berkley were worth $2,119,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Hilltop National Bank purchased a new position in shares of W.R. Berkley in the 2nd quarter worth $27,000. Spectrum Wealth Counsel LLC purchased a new position in shares of W.R. Berkley in the 1st quarter worth $29,000. Garde Capital Inc. purchased a new position in shares of W.R. Berkley in the 1st quarter worth $30,000. N.E.W. Advisory Services LLC purchased a new position in shares of W.R. Berkley in the 1st quarter worth $36,000. Finally, Keystone Global Partners LLC purchased a new position in shares of W.R. Berkley in the 1st quarter worth $41,000. 68.82% of the stock is owned by hedge funds and other institutional investors.

W.R. Berkley Stock Up 1.3%

Shares of NYSE WRB opened at $78.43 on Wednesday. W.R. Berkley Corporation has a 1 year low of $55.97 and a 1 year high of $78.48. The firm has a market cap of $29.75 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.67 and a beta of 0.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.37 and a current ratio of 0.37. The stock's 50-day simple moving average is $73.36 and its 200-day simple moving average is $71.76.

W.R. Berkley (NYSE:WRB - Get Free Report) last announced its earnings results on Monday, July 21st. The insurance provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the company earned $1.04 earnings per share. As a group, equities analysts anticipate that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Monday, September 22nd. W.R. Berkley's payout ratio is presently 8.20%.

Analysts Set New Price Targets

WRB has been the topic of several research reports. Wells Fargo & Company raised their price objective on W.R. Berkley from $68.00 to $69.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 8th. Wolfe Research initiated coverage on W.R. Berkley in a research report on Monday, September 15th. They issued a "peer perform" rating on the stock. Cantor Fitzgerald raised W.R. Berkley to a "strong-buy" rating in a research report on Wednesday, August 13th. Weiss Ratings reissued a "buy (b)" rating on shares of W.R. Berkley in a research report on Wednesday, October 8th. Finally, TD Cowen lowered W.R. Berkley from a "buy" rating to a "hold" rating and set a $78.00 price objective on the stock. in a research report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $73.69.

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.

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