Insider Buying: W.R. Berkley (NYSE:WRB) Major Shareholder Purchases $2,356,561.08 in Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui acquired 33,966 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was acquired at an average price of $69.38 per share, for a total transaction of $2,356,561.08. Following the completion of the transaction, the insider owned 56,532,622 shares in the company, valued at approximately $3,922,233,314.36. The trade was a 0.06% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Price Performance

Shares of W.R. Berkley stock opened at $69.60 on Friday. The business has a 50 day moving average of $69.13 and a 200 day moving average of $72.11. W.R. Berkley Corporation has a 52 week low of $59.55 and a 52 week high of $78.96. The company has a market cap of $26.45 billion, a PE ratio of 15.64, a P/E/G ratio of 2.99 and a beta of 0.37. 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, 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 net margin of 12.10% and a return on equity of 18.35%. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that W.R. Berkley Corporation will post 4.33 earnings per share for the current year.

W.R. Berkley Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were paid 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 dividend payout ratio is presently 8.09%.

Analysts Set New Price Targets

A number of research firms have weighed in on WRB. Wells Fargo & Company reduced their target price on W.R. Berkley from $68.00 to $66.00 and set an “equal weight” rating on the stock in a report 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 note on Tuesday, January 27th. BMO Capital Markets downgraded W.R. Berkley from a “market perform” rating to an “underperform” rating and set a $64.00 price objective for the company. in a report on Wednesday, October 22nd. The Goldman Sachs Group restated a “neutral” rating and set a $73.00 target price on shares of W.R. Berkley in a report on Wednesday, January 7th. Finally, Evercore set a $69.00 target price on shares of W.R. Berkley and gave the stock an “underperform” rating in a research report on Wednesday, January 7th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $69.67.

Hedge Funds Weigh In On W.R. Berkley

Several institutional investors and hedge funds have recently modified their holdings of WRB. Entrust Financial LLC bought a new position in W.R. Berkley in the 4th quarter worth about $25,000. Compass Financial Services Inc purchased a new position in W.R. Berkley in the third quarter worth about $26,000. Hazlett Burt & Watson Inc. raised its holdings in W.R. Berkley by 140.0% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock worth $26,000 after buying an additional 210 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of W.R. Berkley in the second quarter worth approximately $27,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of W.R. Berkley during the second quarter valued at approximately $34,000. 68.82% of the stock is currently owned by institutional investors.

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.