Mattern Capital Management LLC Has $7.79 Million Stake in W.R. Berkley Corporation $WRB

Mattern Capital Management LLC increased its position in shares of W.R. Berkley Corporation (NYSE:WRB) by 25.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,601 shares of the insurance provider’s stock after purchasing an additional 20,381 shares during the period. Mattern Capital Management LLC’s holdings in W.R. Berkley were worth $7,785,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Hilltop National Bank acquired a new stake in shares of W.R. Berkley during the second quarter worth $27,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of W.R. Berkley in the second quarter valued at about $27,000. Elevation Point Wealth Partners LLC bought a new position in W.R. Berkley during the second quarter worth about $34,000. Cary Street Partners Financial LLC raised its stake in W.R. Berkley by 691.9% in the 2nd quarter. Cary Street Partners Financial LLC now owns 586 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 512 shares in the last quarter. Finally, Whipplewood Advisors LLC raised its stake in W.R. Berkley by 148.4% in the 2nd quarter. Whipplewood Advisors LLC now owns 616 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 368 shares in the last quarter. 68.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of W.R. Berkley in a research report on Wednesday, October 8th. UBS Group reiterated a “neutral” rating and issued a $87.00 price target on shares of W.R. Berkley in a research note on Friday, November 7th. Truist Financial set a $84.00 price objective on W.R. Berkley and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Wolfe Research assumed coverage on W.R. Berkley in a report on Monday, September 15th. They issued a “peer perform” rating for the company. Finally, BMO Capital Markets lowered W.R. Berkley from a “market perform” rating to an “underperform” rating and set a $64.00 target price on the stock. in a report on Wednesday, October 22nd. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $73.93.

Insider Activity

In related news, major shareholder Sumitomo Insurance Co L. Mitsui acquired 205,000 shares of the stock in a transaction that occurred on Monday, December 29th. The stock was acquired at an average cost of $70.77 per share, for a total transaction of $14,507,850.00. Following the transaction, the insider directly owned 50,091,511 shares in the company, valued at $3,544,976,233.47. This trade represents a 0.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have purchased 1,489,923 shares of company stock worth $104,586,746. Insiders own 23.30% of the company’s stock.

W.R. Berkley Stock Down 1.0%

NYSE WRB opened at $70.10 on Friday. W.R. Berkley Corporation has a fifty-two week low of $55.97 and a fifty-two week high of $78.96. The business has a fifty day moving average price of $72.81 and a two-hundred day moving average price of $72.48. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a market capitalization of $26.64 billion, a PE ratio of 14.73, a PEG ratio of 2.68 and a beta of 0.39.

W.R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Monday, October 20th. The insurance provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.16 billion. W.R. Berkley had a return on equity of 18.86% and a net margin of 13.01%.W.R. Berkley’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.93 EPS. Equities analysts expect that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 15th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Monday, December 15th. W.R. Berkley’s dividend payout ratio (DPR) is presently 7.56%.

W.R. Berkley Company Profile

W. R. Berkley Corporation (NYSE: WRB) is a publicly traded insurance holding company that underwrites and sells commercial property and casualty insurance, specialty insurance products, and reinsurance. Headquartered in Greenwich, Connecticut, the company operates a portfolio of underwriting businesses that focus on niche and specialty commercial risks, offering coverage tailored to industries such as transportation, construction, professional services and other commercial lines.

The company’s product mix includes primary and excess casualty, property, professional liability, environmental and other specialty lines, together with treaty and facultative reinsurance solutions.