Sumitomo Insurance Co Mitsui Buys 195,000 Shares of W.R. Berkley (NYSE:WRB) Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui acquired 195,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The stock was bought at an average price of $70.16 per share, with a total value of $13,681,200.00. Following the completion of the acquisition, the insider directly owned 51,640,463 shares of the company’s stock, valued at $3,623,094,884.08. This trade represents a 0.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

W.R. Berkley Trading Down 2.5%

WRB traded down $1.79 during midday trading on Friday, hitting $68.45. 2,476,822 shares of the company were exchanged, compared to its average volume of 2,459,150. The firm’s 50 day moving average price is $72.41 and its 200-day moving average price is $72.33. W.R. Berkley Corporation has a 1-year low of $55.97 and a 1-year high of $78.96. The firm has a market capitalization of $26.01 billion, a P/E ratio of 14.38, a P/E/G ratio of 2.61 and a beta of 0.39. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.29.

W.R. Berkley (NYSE:WRB) last issued its quarterly earnings data on Monday, October 20th. The insurance provider reported $1.10 earnings per share (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 the consensus estimate of $3.16 billion. W.R. Berkley had a return on equity of 18.86% and a net margin of 13.01%.The firm’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $0.93 earnings per share. As a group, equities analysts forecast that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.

W.R. Berkley Announces Dividend

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

Institutional Trading of W.R. Berkley

Several large investors have recently made changes to their positions in the company. Jefferies Financial Group Inc. bought a new stake in W.R. Berkley in the 3rd quarter valued at about $682,816,000. Norges Bank acquired a new stake in W.R. Berkley in the second quarter valued at approximately $367,921,000. Balyasny Asset Management L.P. increased its holdings in shares of W.R. Berkley by 6,503.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,561,230 shares of the insurance provider’s stock valued at $188,174,000 after acquiring an additional 2,601,230 shares in the last quarter. Invesco Ltd. raised its position in shares of W.R. Berkley by 33.4% during the third quarter. Invesco Ltd. now owns 4,892,799 shares of the insurance provider’s stock worth $374,886,000 after purchasing an additional 1,224,363 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of W.R. Berkley by 21.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,711,425 shares of the insurance provider’s stock worth $284,350,000 after purchasing an additional 657,558 shares in the last quarter. 68.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WRB shares. Morgan Stanley set a $75.00 target price on shares of W.R. Berkley in a research note on Tuesday, December 16th. Jefferies Financial Group decreased their price target on W.R. Berkley from $76.00 to $75.00 and set a “hold” rating for the company in a report on Tuesday, October 21st. Cantor Fitzgerald set a $78.00 price objective on W.R. Berkley in a research report on Monday, October 27th. Weiss Ratings restated a “buy (b)” rating on shares of W.R. Berkley in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $73.00 target price on shares of W.R. Berkley in a research note on Wednesday. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $72.87.

About W.R. Berkley

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.