W.R. Berkley (NYSE:WRB) Major Shareholder Sumitomo Insurance Co Mitsui Acquires 220,000 Shares of Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui purchased 220,000 shares of W.R. Berkley stock in a transaction dated Monday, February 23rd. The stock was bought at an average price of $71.15 per share, with a total value of $15,653,000.00. Following the completion of the purchase, the insider directly owned 57,888,620 shares of the company’s stock, valued at approximately $4,118,775,313. This trade represents a 0.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

W.R. Berkley Stock Up 0.6%

Shares of W.R. Berkley stock opened at $72.06 on Thursday. W.R. Berkley Corporation has a twelve month low of $60.68 and a twelve month high of $78.96. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $69.54 and its 200 day moving average is $72.20. The company has a market cap of $27.38 billion, a price-to-earnings ratio of 16.21, a price-to-earnings-growth ratio of 3.00 and a beta of 0.37.

W.R. Berkley (NYSE:WRB) last posted its earnings results on Monday, January 26th. The insurance provider reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.18 billion. W.R. Berkley had a return on equity of 18.35% and a net margin of 12.10%.The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $1.13 EPS. Research analysts anticipate that W.R. Berkley Corporation will post 4.33 EPS for the current year.

W.R. Berkley Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, February 23rd. W.R. Berkley’s dividend payout ratio is 8.09%.

Institutional Investors Weigh In On W.R. Berkley

A number of institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. raised its holdings in W.R. Berkley by 47.3% during the fourth quarter. Pacer Advisors Inc. now owns 35,525 shares of the insurance provider’s stock valued at $2,491,000 after acquiring an additional 11,400 shares during the period. Dean Capital Management raised its stake in W.R. Berkley by 3.2% during the 4th quarter. Dean Capital Management now owns 33,170 shares of the insurance provider’s stock valued at $2,326,000 after purchasing an additional 1,013 shares during the period. Mcguire Capital Advisors Inc. purchased a new position in W.R. Berkley in the 4th quarter worth approximately $88,000. Hamilton Wealth LLC boosted its stake in W.R. Berkley by 18.2% in the 4th quarter. Hamilton Wealth LLC now owns 3,890 shares of the insurance provider’s stock worth $273,000 after purchasing an additional 600 shares during the period. Finally, Invesco Ltd. boosted its stake in W.R. Berkley by 0.4% in the 4th quarter. Invesco Ltd. now owns 4,913,337 shares of the insurance provider’s stock worth $344,523,000 after purchasing an additional 20,538 shares during the period. Hedge funds and other institutional investors own 68.82% of the company’s stock.

Analysts Set New Price Targets

WRB has been the subject of a number of recent research reports. Bank of America cut their price target 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. TD Cowen downgraded shares of W.R. Berkley from a “buy” rating to a “sell” rating and decreased their price target for the stock from $77.00 to $55.00 in a research report on Tuesday, January 20th. Wells Fargo & Company cut their price objective on shares of W.R. Berkley from $68.00 to $66.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 27th. Keefe, Bruyette & Woods raised their target price on W.R. Berkley from $73.00 to $76.00 and gave the stock a “market perform” rating in a report on Tuesday, January 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $75.00 target price (down from $76.00) on shares of W.R. Berkley in a research report on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $69.67.

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.