Insider Buying: W.R. Berkley (NYSE:WRB) Major Shareholder Buys 300,000 Shares of Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui bought 300,000 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was acquired at an average cost of $68.18 per share, with a total value of $20,454,000.00. Following the completion of the purchase, the insider owned 53,261,504 shares of the company’s stock, valued at approximately $3,631,369,342.72. This trade represents a 0.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

W.R. Berkley Stock Down 1.2%

Shares of NYSE WRB traded down $0.86 during mid-day trading on Friday, reaching $67.85. 3,279,517 shares of the company’s stock were exchanged, compared to its average volume of 2,263,809. W.R. Berkley Corporation has a twelve month low of $56.86 and a twelve month high of $78.96. 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 firm has a market capitalization of $25.79 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 2.55 and a beta of 0.39. The business has a fifty day simple moving average of $71.86 and a 200 day simple moving average of $72.19.

W.R. Berkley (NYSE:WRB) last posted its earnings results on Monday, October 20th. The insurance provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. W.R. Berkley had a return on equity of 18.86% and a net margin of 13.01%.The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the prior year, the business earned $0.93 EPS. W.R. Berkley’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities analysts expect that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.

W.R. Berkley Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, December 15th. W.R. Berkley’s payout ratio is currently 7.56%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WRB shares. Evercore ISI set a $69.00 price target on W.R. Berkley and gave the company an “underperform” rating in a report on Wednesday, January 7th. Barclays restated an “underweight” rating and issued a $64.00 target price (down previously from $73.00) on shares of W.R. Berkley in a research note on Thursday, January 8th. Morgan Stanley set a $75.00 price target on shares of W.R. Berkley in a research note on Tuesday, December 16th. Truist Financial set a $84.00 price objective on shares of W.R. Berkley and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of W.R. Berkley in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.00.

Institutional Investors Weigh In On W.R. Berkley

Several large investors have recently made changes to their positions in the stock. Compass Financial Services Inc bought a new position in W.R. Berkley during the 3rd quarter worth $26,000. Hilltop National Bank acquired a new position in shares of W.R. Berkley in the second quarter valued at about $27,000. Twin Peaks Wealth Advisors LLC bought a new position in W.R. Berkley during the second quarter worth about $27,000. Elevation Point Wealth Partners LLC acquired a new stake in W.R. Berkley in the 2nd quarter worth about $34,000. Finally, Triumph Capital Management acquired a new stake in W.R. Berkley in the 3rd quarter worth about $35,000. Institutional investors and hedge funds 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.