Should You Hold W. R. Berkley Corporation (WRB)?

Madison Investments, an investment advisor, released its “Madison Mid Cap Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund was up 5.3% compared to a 4.1% return for the Russell Midcap Index benchmark.  In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Mid Cap Fund highlighted stocks like W. R. Berkley Corporation (NYSE:WRB) in the first quarter 2023 investor letter. Headquartered in Greenwich, Connecticut, W. R. Berkley Corporation (NYSE:WRB) is an insurance holding company. On April 17, 2023, W. R. Berkley Corporation (NYSE:WRB) stock closed at $62.50 per share. One-month return of W. R. Berkley Corporation (NYSE:WRB) was 1.31%, and its shares lost 9.98% of their value over the last 52 weeks. W. R. Berkley Corporation (NYSE:WRB) has a market capitalization of $16.465 billion.

Madison Mid Cap Fund made the following comment about W. R. Berkley Corporation (NYSE:WRB) in its Q1 2023 investor letter:

“The bottom five contributors for the quarter were Ross Stores, W. R. Berkley Corporation (NYSE:WRB), Gartner, Glacier Bancorp, and Carlisle. W.R. Berkley is firing on all cylinders – its insurance underwriting profits are growing strongly, and the very short duration it’s maintained in its bond investment portfolio is starting to pay off as it is reinvesting at higher yields.”

W. R. Berkley Corporation (NYSE:WRB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held W. R. Berkley Corporation (NYSE:WRB) at the end of the fourth quarter which was 37 in the previous quarter.

We discussed W. R. Berkley Corporation (NYSE:WRB) in another article and shared the list of best landlord insurance companies. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.