W.R. Berkley (NYSE:WRB) Major Shareholder Sumitomo Insurance Co Mitsui Purchases 146,000 Shares

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui purchased 146,000 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were purchased at an average cost of $72.92 per share, for a total transaction of $10,646,320.00. Following the purchase, the insider directly owned 58,668,274 shares of the company’s stock, valued at $4,278,090,540.08. This trade represents a 0.25% increase in their ownership of the stock. The transaction was disclosed in a filing 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 Stock Down 0.8%

Shares of W.R. Berkley stock opened at $72.68 on Wednesday. The business has a fifty day simple moving average of $69.74 and a 200 day simple moving average of $72.25. The stock has a market cap of $27.22 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 3.07 and a beta of 0.35. 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 12 month low of $60.68 and a 12 month high of $78.96.

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

W.R. Berkley Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be paid a dividend of $0.09 per share. 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 is currently 8.09%.

Wall Street Analyst Weigh In

WRB has been the subject of several recent analyst reports. Evercore set a $69.00 target price on shares of W.R. Berkley and gave the company an “underperform” rating in a research note on Wednesday, January 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $75.00 price objective (down from $76.00) on shares of W.R. Berkley in a research note on Monday, February 2nd. Jefferies Financial Group cut their price objective on W.R. Berkley from $75.00 to $70.00 and set a “hold” rating for the company in a research report on Tuesday, January 27th. Truist Financial set a $80.00 target price on W.R. Berkley and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Finally, Mizuho decreased their target price on W.R. Berkley from $69.00 to $67.00 and set a “neutral” rating on the stock in a report on Tuesday, January 27th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $69.67.

Hedge Funds Weigh In On W.R. Berkley

Hedge funds have recently added to or reduced their stakes in the stock. Compass Financial Services Inc bought a new position in shares of W.R. Berkley in the 3rd quarter valued at $26,000. Entrust Financial LLC acquired a new stake in W.R. Berkley in the fourth quarter valued at about $25,000. Hazlett Burt & Watson Inc. boosted its stake 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 valued at $26,000 after buying an additional 210 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in W.R. Berkley during the second quarter worth about $27,000. Finally, DV Equities LLC acquired a new position in W.R. Berkley during the fourth quarter worth about $29,000. Institutional investors own 68.82% of the company’s stock.

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.