Sagespring Wealth Partners LLC Has $567,000 Stake in W.R. Berkley Corporation $WRB

Sagespring Wealth Partners LLC increased its holdings in shares of W.R. Berkley Corporation (NYSE:WRB) by 9.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,711 shares of the insurance provider’s stock after purchasing an additional 657 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in W.R. Berkley were worth $567,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Czech National Bank boosted its holdings in W.R. Berkley by 6.3% during the second quarter. Czech National Bank now owns 73,255 shares of the insurance provider’s stock worth $5,382,000 after purchasing an additional 4,336 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its holdings in W.R. Berkley by 70.8% during the first quarter. Federation des caisses Desjardins du Quebec now owns 17,197 shares of the insurance provider’s stock worth $1,224,000 after purchasing an additional 7,131 shares during the last quarter. Gallacher Capital Management LLC acquired a new stake in W.R. Berkley in the second quarter valued at $323,000. Sciencast Management LP acquired a new stake in W.R. Berkley in the first quarter valued at $3,493,000. Finally, Strs Ohio acquired a new stake in W.R. Berkley in the first quarter valued at $2,386,000. Institutional investors and hedge funds own 68.82% of the company’s stock.

Analyst Upgrades and Downgrades

WRB has been the subject of a number of recent analyst reports. TD Cowen cut shares of W.R. Berkley from a “buy” rating to a “hold” rating and set a $78.00 price target for the company. in a research note on Friday, June 27th. Cantor Fitzgerald upgraded shares of W.R. Berkley to a “strong-buy” rating in a research note on Wednesday, August 13th. Wells Fargo & Company increased their price target on shares of W.R. Berkley from $68.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. Barclays reiterated an “underweight” rating and issued a $73.00 price target on shares of W.R. Berkley in a research note on Wednesday, October 8th. Finally, UBS Group set a $87.00 target price on shares of W.R. Berkley and gave the stock a “buy” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $73.69.

W.R. Berkley Stock Performance

NYSE WRB opened at $73.64 on Friday. The firm has a 50-day moving average of $73.55 and a 200-day moving average of $71.81. 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 has a market cap of $27.93 billion, a PE ratio of 16.77, a P/E/G ratio of 2.63 and a beta of 0.42. W.R. Berkley Corporation has a 52-week low of $55.97 and a 52-week high of $78.48.

W.R. Berkley (NYSE:WRB) last posted 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. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.10 billion. W.R. Berkley had a net margin of 12.32% and a return on equity of 18.83%. During the same quarter last year, the company posted $1.04 EPS. On average, sell-side analysts anticipate that W.R. Berkley Corporation will post 4.33 EPS for the current year.

W.R. Berkley Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given 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 currently 8.20%.

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.