W.R. Berkley (NYSE:WRB) Major Shareholder Sumitomo Insurance Co Mitsui Purchases 204,000 Shares

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui purchased 204,000 shares of the stock in a transaction on Friday, December 19th. The stock was bought at an average price of $69.50 per share, for a total transaction of $14,178,000.00. Following the completion of the transaction, the insider directly owned 49,009,938 shares of the company’s stock, valued at approximately $3,406,190,691. This trade represents a 0.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

W.R. Berkley Price Performance

NYSE WRB traded up $0.76 during trading hours on Monday, reaching $70.13. 3,250,017 shares of the company’s stock were exchanged, compared to its average volume of 3,573,696. The firm has a fifty day moving average of $73.56 and a 200-day moving average of $72.62. W.R. Berkley Corporation has a one year low of $55.97 and a one year high of $78.96. The stock has a market cap of $26.65 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 2.65 and a beta of 0.37. The company has a current ratio of 0.37, a quick 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, October 20th. The insurance provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.16 billion. W.R. Berkley had a net margin of 13.01% and a return on equity of 18.86%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. On average, equities research analysts predict that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Monday, December 15th will be issued a dividend of $0.09 per share. The ex-dividend date is Monday, December 15th. This represents a $0.36 annualized dividend and a yield of 0.5%. W.R. Berkley’s payout ratio is currently 7.56%.

Analyst Ratings Changes

WRB has been the subject of a number of recent analyst reports. Barclays reaffirmed an “underweight” rating and issued a $73.00 price objective on shares of W.R. Berkley in a research report on Wednesday, October 8th. Morgan Stanley set a $75.00 price target on shares of W.R. Berkley in a report on Tuesday, December 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of W.R. Berkley in a research report on Wednesday, October 8th. Mizuho set a $67.00 target price on shares of W.R. Berkley and gave the stock a “neutral” rating in a report on Monday, December 15th. Finally, Truist Financial set a $84.00 price objective on W.R. Berkley and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.93.

Institutional Investors Weigh In On W.R. Berkley

Institutional investors and hedge funds have recently modified their holdings of the stock. Johnson Financial Group Inc. increased its stake in shares of W.R. Berkley by 22.3% in the 3rd quarter. Johnson Financial Group Inc. now owns 756 shares of the insurance provider’s stock worth $58,000 after purchasing an additional 138 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in W.R. Berkley by 1.8% during the 1st quarter. Baird Financial Group Inc. now owns 7,997 shares of the insurance provider’s stock valued at $569,000 after buying an additional 141 shares in the last quarter. Maridea Wealth Management LLC increased its position in W.R. Berkley by 2.0% during the 3rd quarter. Maridea Wealth Management LLC now owns 7,180 shares of the insurance provider’s stock valued at $528,000 after purchasing an additional 141 shares during the period. Physician Wealth Advisors Inc. boosted its position in W.R. Berkley by 40.2% during the third quarter. Physician Wealth Advisors Inc. now owns 523 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 150 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in shares of W.R. Berkley by 3.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 4,788 shares of the insurance provider’s stock worth $367,000 after purchasing an additional 151 shares in the last quarter. 68.82% of the stock is owned by hedge funds and other 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.