Sumitomo Insurance Co Mitsui Purchases 25,000 Shares of W.R. Berkley (NYSE:WRB) Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui purchased 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was bought at an average cost of $70.20 per share, for a total transaction of $1,755,000.00. Following the completion of the acquisition, the insider directly owned 56,418,656 shares of the company’s stock, valued at $3,960,589,651.20. This represents a 0.04% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

W.R. Berkley Stock Up 1.4%

Shares of WRB traded up $0.96 during midday trading on Wednesday, hitting $70.15. The company had a trading volume of 1,778,781 shares, compared to its average volume of 2,508,529. The stock has a market cap of $26.66 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 2.87 and a beta of 0.37. The company’s 50 day moving average price is $69.48 and its 200 day moving average price is $72.04. 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 Corporation has a 52 week low of $59.55 and a 52 week high of $78.96.

W.R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Monday, January 26th. The insurance provider reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.01). W.R. Berkley had a net margin of 12.10% and a return on equity of 18.35%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the prior year, the firm earned $1.13 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that W.R. Berkley Corporation will post 4.33 EPS for the current year.

W.R. Berkley Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 15th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, December 15th. W.R. Berkley’s payout ratio is currently 8.09%.

Analyst Upgrades and Downgrades

WRB has been the topic of a number of recent research reports. The Goldman Sachs Group restated a “neutral” rating and issued a $73.00 price target on shares of W.R. Berkley in a research report on Wednesday, January 7th. Mizuho dropped their price objective on shares of W.R. Berkley from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 27th. Bank of America decreased their target price on W.R. Berkley from $69.00 to $66.00 and set a “neutral” rating for the company in a research note on Tuesday, January 27th. Truist Financial set a $80.00 price target on W.R. Berkley and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of W.R. Berkley in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $69.67.

Institutional Investors Weigh In On W.R. Berkley

A number of hedge funds and other institutional investors have recently modified their holdings of WRB. Pacer Advisors Inc. lifted its holdings in shares of W.R. Berkley by 47.3% in the fourth quarter. Pacer Advisors Inc. now owns 35,525 shares of the insurance provider’s stock valued at $2,491,000 after buying an additional 11,400 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of W.R. Berkley by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,400 shares of the insurance provider’s stock worth $2,412,000 after acquiring an additional 200 shares during the last quarter. World Investment Advisors increased its stake in W.R. Berkley by 7.4% in the 4th quarter. World Investment Advisors now owns 6,730 shares of the insurance provider’s stock worth $472,000 after purchasing an additional 463 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of W.R. Berkley by 3.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 24,706 shares of the insurance provider’s stock worth $1,732,000 after acquiring an additional 839 shares in the last quarter. Finally, Ethic Inc. lifted its position in shares of W.R. Berkley by 2.0% in the 4th quarter. Ethic Inc. now owns 46,174 shares of the insurance provider’s stock valued at $3,238,000 after acquiring an additional 903 shares in the last quarter. 68.82% of the stock is currently owned by institutional investors.

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.