5 Best Stocks to Buy Now According to Jonathan Bloomberg’s BloombergSen

2. W. R. Berkley Corporation (NYSE:WRB)

BloombergSen’s Stake Value: $148 million

Percentage of BloombergSen’s 13F Portfolio: 9.16%

Number of Hedge Fund Holders: 37

W. R. Berkley Corporation (NYSE:WRB) is an American insurance underwriter and reinsurer. The firm underwrites insurance for a variety of products such as fine arts, jewelry, property, and automobiles. The company is headquartered in Greenwich, Connecticut.

W. R. Berkley Corporation (NYSE:WRB)’s latest quarter saw the firm bring in $2.5 billion in operating revenue, to post a solid 9% annual growth. However, at the same time, it suffered from inflationary pressures as well with its operating margin dropping to 8.4% annually from the year ago quarter’s 14%.

Mr. Bloomberg’s hedge fund held a $148 million stake in W. R. Berkley Corporation (NYSE:WRB) as part of its June quarter of 2022 investments. During the same time period, 37 out of the 895 hedge funds surveyed by Insider Monkey had also invested in the firm.

W. R. Berkley Corporation (NYSE:WRB)’s largest investor in our database is Jean-Marie Eveillard’s First Eagle Investment Management which owns 4.6 million shares that are worth $311 million.

The same fund mentioned the company in its Q2 2022 investor letter, which outlined that:

“W. R. Berkley Corporation (NYSE:WRB) is a specialty insurance company based in Connecticut that provides property and casualty insurance and reinsurance products. It reported strong operating results for its most recent quarter, including record underwriting income and net income, as rate increases outpaced expected-loss costs.

Berkely also benefitted from the strong performance of its investment portfolio, which is well-positioned to potentially mitigate the impact of inflation and rising interest rates; notably, the company booked a large pretax gain on the sale of a London real estate investment. The company recently increased its regular dividend and declared a special dividend.”