W.R. Berkley (NYSE:WRB) Major Shareholder Sumitomo Insurance Co Mitsui Purchases 164,786 Shares

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui purchased 164,786 shares of W.R. Berkley stock in a transaction on Tuesday, February 24th. The stock was bought at an average cost of $70.81 per share, for a total transaction of $11,668,496.66. Following the transaction, the insider directly owned 58,053,406 shares in the company, valued at $4,110,761,678.86. This represents a 0.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

W.R. Berkley Stock Up 0.6%

WRB stock opened at $72.06 on Thursday. The company’s 50 day moving average price is $69.54 and its 200 day moving average price is $72.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.37 and a current ratio of 0.37. W.R. Berkley Corporation has a fifty-two week low of $60.68 and a fifty-two week high of $78.96. The firm has a market capitalization of $27.38 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 3.00 and a beta of 0.37.

W.R. Berkley (NYSE:WRB) last issued its quarterly earnings results on Monday, January 26th. The insurance provider reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). W.R. Berkley had a return on equity of 18.35% and a net margin of 12.10%.The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.

W.R. Berkley Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WRB. Entrust Financial LLC acquired a new stake in shares of W.R. Berkley during the 4th quarter valued at approximately $25,000. Compass Financial Services Inc purchased a new position in W.R. Berkley in the 3rd quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. increased its stake in W.R. Berkley by 140.0% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock valued at $26,000 after purchasing 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 $27,000. Finally, DV Equities LLC acquired a new stake in W.R. Berkley in the fourth quarter valued at $29,000. 68.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WRB. The Goldman Sachs Group reissued a “neutral” rating and set a $73.00 target price on shares of W.R. Berkley in a research report on Wednesday, January 7th. Jefferies Financial Group cut their price objective on shares of W.R. Berkley from $75.00 to $70.00 and set a “hold” rating on the stock in a report on Tuesday, January 27th. UBS Group set a $71.00 target price on W.R. Berkley in a research report on Monday, February 2nd. Barclays reissued an “underweight” rating and set a $64.00 price objective (down from $73.00) on shares of W.R. Berkley in a research report on Thursday, January 8th. Finally, Evercore set a $69.00 target price on W.R. Berkley and gave the company an “underperform” rating in a report on Wednesday, January 7th. 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 MarketBeat, the company has an average rating of “Hold” and a consensus 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.