W.R. Berkley (NYSE:WRB) Major Shareholder Purchases $2,745,600.00 in Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui purchased 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were acquired at an average price of $68.64 per share, for a total transaction of $2,745,600.00. Following the completion of the transaction, the insider owned 56,393,656 shares in the company, valued at $3,870,860,547.84. The trade was a 0.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at 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 Price Performance

WRB traded up $0.96 during trading on Wednesday, hitting $70.15. The company’s stock had a trading volume of 1,778,781 shares, compared to its average volume of 2,508,529. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $26.66 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 2.87 and a beta of 0.37. The firm’s 50 day moving average price is $69.48 and its two-hundred day moving average price is $72.04. W.R. Berkley Corporation has a 12 month low of $59.55 and a 12 month high of $78.96.

W.R. Berkley (NYSE:WRB) last announced its 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). W.R. Berkley had a net margin of 12.10% and a return on equity of 18.35%. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the business posted $1.13 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that W.R. Berkley Corporation will post 4.33 earnings per share 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. Shareholders 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 was Monday, December 15th. W.R. Berkley’s dividend payout ratio (DPR) is presently 8.09%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $73.00 price target on shares of W.R. Berkley in a research note on Wednesday, January 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $75.00 price objective (down from $76.00) on shares of W.R. Berkley in a research report on Monday. UBS Group set a $71.00 target price on W.R. Berkley in a research note on Monday. Truist Financial set a $80.00 price target on W.R. Berkley and gave the company a “buy” rating in a research note on Tuesday, January 27th. Finally, 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. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, W.R. Berkley currently has an average rating of “Hold” and a consensus price target of $69.67.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WRB. Johnson Financial Group Inc. grew its stake in shares of W.R. Berkley by 22.3% during the third quarter. Johnson Financial Group Inc. now owns 756 shares of the insurance provider’s stock worth $58,000 after purchasing an additional 138 shares during the period. Maridea Wealth Management LLC boosted its holdings in W.R. Berkley by 2.0% during the third quarter. Maridea Wealth Management LLC now owns 7,180 shares of the insurance provider’s stock worth $528,000 after buying an additional 141 shares during the last quarter. Physician Wealth Advisors Inc. grew its position in shares of W.R. Berkley by 40.2% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 523 shares of the insurance provider’s stock worth $40,000 after buying an additional 150 shares during the period. Valeo Financial Advisors LLC increased its stake 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 valued at $367,000 after acquiring an additional 151 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of W.R. Berkley by 4.8% in the 3rd quarter. Allworth Financial LP now owns 3,328 shares of the insurance provider’s stock valued at $255,000 after acquiring an additional 153 shares during the period. Institutional investors and hedge funds own 68.82% of the company’s stock.

About W.R. Berkley

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.