W.R. Berkley (NYSE:WRB) Major Shareholder Sumitomo Insurance Co Mitsui Buys 153,000 Shares

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui purchased 153,000 shares of the firm’s stock in a transaction on Thursday, February 26th. The shares were acquired at an average price of $71.67 per share, with a total value of $10,965,510.00. Following the completion of the acquisition, the insider owned 58,375,274 shares in the company, valued at approximately $4,183,755,887.58. This trade represents a 0.26% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

W.R. Berkley Trading Up 0.1%

Shares of W.R. Berkley stock traded up $0.06 on Friday, reaching $71.64. 4,799,462 shares of the company’s stock were exchanged, compared to its average volume of 2,394,930. The company has a market capitalization of $27.23 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 3.00 and a beta of 0.37. W.R. Berkley Corporation has a 52 week low of $60.68 and a 52 week high of $78.96. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.37 and a current ratio of 0.37. The firm’s 50-day moving average is $69.63 and its two-hundred day moving average is $72.20.

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

W.R. Berkley Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its position 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 purchasing an additional 11,400 shares during the period. Dean Capital Management raised its holdings 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 acquiring an additional 1,013 shares during the period. Mcguire Capital Advisors Inc. purchased a new stake in shares of W.R. Berkley during the fourth quarter worth $88,000. Hamilton Wealth LLC boosted its holdings in shares of W.R. Berkley by 18.2% in the fourth quarter. Hamilton Wealth LLC now owns 3,890 shares of the insurance provider’s stock worth $273,000 after acquiring an additional 600 shares during the period. Finally, Invesco Ltd. grew its position in shares of W.R. Berkley by 0.4% in the fourth quarter. Invesco Ltd. now owns 4,913,337 shares of the insurance provider’s stock valued at $344,523,000 after purchasing an additional 20,538 shares in the last quarter. 68.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on WRB. 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. Truist Financial set a $80.00 price target on W.R. Berkley and gave the company a “buy” rating in a research note on Tuesday, January 27th. Keefe, Bruyette & Woods boosted their price objective 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. Jefferies Financial Group dropped their target price on W.R. Berkley from $75.00 to $70.00 and set a “hold” rating on the stock in a report on Tuesday, January 27th. Finally, Barclays reiterated an “underweight” rating and set a $64.00 price target (down from $73.00) on shares of W.R. Berkley in a report on Thursday, January 8th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $69.67.

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.