Cynosure Group LLC Has $368,000 Position in W. R. Berkley Co. (NYSE:WRB)

Cynosure Group LLC grew its stake in W. R. Berkley Co. (NYSE:WRB) by 37.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,480 shares of the insurance provider’s stock after buying an additional 1,769 shares during the period. Cynosure Group LLC’s holdings in W. R. Berkley were worth $368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Armstrong Advisory Group Inc. increased its position 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 valued at $35,000 after purchasing an additional 209 shares during the period. PFS Partners LLC boosted its stake in shares of W. R. Berkley by 51.1% in the 3rd quarter. PFS Partners LLC now owns 719 shares of the insurance provider’s stock valued at $41,000 after purchasing an additional 243 shares during the last quarter. Quarry LP bought a new position in W. R. Berkley during the second quarter worth $42,000. Creative Financial Designs Inc. ADV lifted its holdings in W. R. Berkley by 108.1% in the third quarter. Creative Financial Designs Inc. ADV now owns 801 shares of the insurance provider’s stock valued at $45,000 after buying an additional 416 shares during the period. Finally, Kiely Wealth Advisory Group Inc. lifted its holdings in W. R. Berkley by 49.9% in the second quarter. Kiely Wealth Advisory Group Inc. now owns 580 shares of the insurance provider’s stock valued at $46,000 after buying an additional 193 shares during the period. 68.82% of the stock is currently owned by institutional investors.

W. R. Berkley Stock Up 0.9 %

Shares of NYSE WRB opened at $64.94 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.36 and a quick ratio of 0.36. W. R. Berkley Co. has a 1 year low of $45.75 and a 1 year high of $65.49. The stock has a market capitalization of $24.75 billion, a P/E ratio of 16.64, a P/E/G ratio of 1.22 and a beta of 0.62. The company has a 50-day moving average price of $59.27 and a 200-day moving average price of $56.79.

W. R. Berkley (NYSE:WRB) last released its quarterly earnings results on Monday, October 21st. The insurance provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. W. R. Berkley had a return on equity of 20.41% and a net margin of 11.96%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the previous year, the business earned $0.90 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts forecast that W. R. Berkley Co. will post 3.94 EPS for the current fiscal year.

W. R. Berkley Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, September 23rd. W. R. Berkley’s dividend payout ratio (DPR) is presently 8.20%.

Analyst Ratings Changes

Several research analysts have recently weighed in on WRB shares. Barclays began coverage on W. R. Berkley in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $56.00 price objective for the company. UBS Group boosted their price target on W. R. Berkley from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Truist Financial raised their price objective on shares of W. R. Berkley from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Jefferies Financial Group boosted their target price on shares of W. R. Berkley from $53.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company increased their target price on shares of W. R. Berkley from $63.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, W. R. Berkley currently has a consensus rating of “Hold” and an average price target of $64.22.

About W. R. Berkley

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.