Sumitomo Insurance Co Mitsui Purchases 168,868 Shares of W.R. Berkley (NYSE:WRB) Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui acquired 168,868 shares of W.R. Berkley stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average price of $71.42 per share, for a total transaction of $12,060,552.56. Following the completion of the acquisition, the insider directly owned 58,222,274 shares in the company, valued at approximately $4,158,234,809.08. This represents a 0.29% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

W.R. Berkley Stock Down 0.1%

Shares of WRB stock traded down $0.06 on Wednesday, reaching $71.57. 1,641,239 shares of the stock were exchanged, compared to its average volume of 1,957,137. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average price is $69.54 and its 200 day moving average price is $72.20. The company has a market capitalization of $27.20 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 3.00 and a beta of 0.37. W.R. Berkley Corporation has a twelve month low of $60.68 and a twelve month high of $78.96.

W.R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Monday, January 26th. The insurance provider reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. W.R. Berkley had a net margin of 12.10% and a return on equity of 18.35%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 earnings per share. As a group, sell-side analysts expect that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WRB. Compass Financial Services Inc acquired a new stake in shares of W.R. Berkley during the third quarter worth about $26,000. Entrust Financial LLC acquired a new position in W.R. Berkley in the 4th quarter valued at about $25,000. Hazlett Burt & Watson Inc. raised its stake in W.R. Berkley by 140.0% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 210 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in W.R. Berkley during the 2nd quarter worth approximately $27,000. Finally, DV Equities LLC purchased a new position in shares of W.R. Berkley in the 4th quarter valued at approximately $29,000. 68.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on WRB. Morgan Stanley set a $73.00 price objective on shares of W.R. Berkley in a report on Wednesday, January 28th. Argus cut their price target on shares of W.R. Berkley from $82.00 to $76.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. UBS Group set a $71.00 price objective on shares of W.R. Berkley in a research note on Monday, February 2nd. Wells Fargo & Company cut their target price on W.R. Berkley from $68.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of W.R. Berkley in a report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.