Cornerstone Wealth Management LLC Has $256,000 Position in W. R. Berkley Co. (NYSE:WRB)

Cornerstone Wealth Management LLC grew its position in W. R. Berkley Co. (NYSE:WRB) by 50.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,506 shares of the insurance provider’s stock after purchasing an additional 1,502 shares during the period. Cornerstone Wealth Management LLC’s holdings in W. R. Berkley were worth $256,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Armstrong Advisory Group Inc. raised its stake in W. R. Berkley by 51.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 619 shares of the insurance provider’s stock worth $35,000 after buying an additional 209 shares during the period. Sound Income Strategies LLC increased its holdings in shares of W. R. Berkley by 563.2% in the first quarter. Sound Income Strategies LLC now owns 451 shares of the insurance provider’s stock worth $40,000 after acquiring an additional 383 shares in the last quarter. Quarry LP acquired a new stake in shares of W. R. Berkley during the second quarter worth about $42,000. Kiely Wealth Advisory Group Inc. grew its position in shares of W. R. Berkley by 49.9% in the 2nd quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock valued at $46,000 after purchasing an additional 193 shares during the period. Finally, Covestor Ltd increased its stake in W. R. Berkley by 173.0% during the 1st quarter. Covestor Ltd now owns 546 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 346 shares in the last quarter. 68.82% of the stock is owned by institutional investors.

W. R. Berkley Price Performance

NYSE:WRB opened at $61.26 on Friday. The stock has a market capitalization of $23.49 billion, a PE ratio of 16.29, a P/E/G ratio of 1.07 and a beta of 0.62. W. R. Berkley Co. has a 1-year low of $41.82 and a 1-year high of $61.60. The firm has a fifty day simple moving average of $58.16 and a 200 day simple moving average of $55.54. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.36.

W. R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.12. The company had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $2.84 billion. W. R. Berkley had a net margin of 12.05% and a return on equity of 21.34%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. On average, research analysts expect that W. R. Berkley Co. will post 4.02 EPS for the current fiscal year.

W. R. Berkley Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $0.32 annualized dividend and a yield of 0.52%. W. R. Berkley’s dividend payout ratio is 8.51%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group lifted their price target on shares of W. R. Berkley from $53.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. StockNews.com lowered shares of W. R. Berkley from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. UBS Group lifted their price target on W. R. Berkley from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 price objective on shares of W. R. Berkley in a research report on Tuesday, July 23rd. Finally, Truist Financial lifted their target price on W. R. Berkley from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $61.64.

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.