W.R. Berkley (NYSE:WRB) Major Shareholder Sumitomo Insurance Co Mitsui Acquires 237,734 Shares

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui acquired 237,734 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were bought at an average cost of $69.35 per share, with a total value of $16,486,852.90. Following the purchase, the insider owned 50,764,245 shares of the company’s stock, valued at approximately $3,520,500,390.75. This trade represents a 0.47% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

W.R. Berkley Stock Down 1.1%

Shares of NYSE WRB opened at $69.36 on Friday. The firm’s fifty day moving average is $72.69 and its 200 day moving average is $72.46. W.R. Berkley Corporation has a 52 week low of $55.97 and a 52 week high of $78.96. 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 company has a market cap of $26.36 billion, a price-to-earnings ratio of 14.57, a PEG ratio of 2.45 and a beta of 0.37.

W.R. Berkley (NYSE:WRB) last announced its quarterly 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. The business 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 last year, the firm earned $0.93 EPS. On average, equities research analysts expect that W.R. Berkley Corporation will post 4.33 earnings per share for the current year.

W.R. Berkley Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 15th were issued a $0.09 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.36 annualized dividend and a yield of 0.5%. W.R. Berkley’s dividend payout ratio (DPR) is 7.56%.

Analyst Upgrades and Downgrades

WRB has been the subject of a number of recent analyst reports. Mizuho set a $67.00 target price on W.R. Berkley and gave the company a “neutral” rating in a report on Monday, December 15th. Barclays restated an “underweight” rating and issued a $73.00 price objective on shares of W.R. Berkley in a report on Wednesday, October 8th. Wolfe Research began coverage on shares of W.R. Berkley in a research note on Monday, September 15th. They set a “peer perform” rating on the stock. Jefferies Financial Group reduced their price target on shares of W.R. Berkley from $76.00 to $75.00 and set a “hold” rating on the stock in a research report on Tuesday, October 21st. Finally, UBS Group restated a “neutral” rating and issued a $87.00 price objective on shares of W.R. Berkley in a report on Friday, November 7th. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.93.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Johnson Financial Group Inc. grew its stake in shares of W.R. Berkley by 22.3% in the third quarter. Johnson Financial Group Inc. now owns 756 shares of the insurance provider’s stock worth $58,000 after acquiring an additional 138 shares during the last quarter. Baird Financial Group Inc. grew its position 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 purchasing an additional 141 shares during the last quarter. Maridea Wealth Management LLC grew 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 last quarter. Physician Wealth Advisors Inc. increased its stake in W.R. Berkley by 40.2% during the 3rd 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 raised its holdings in W.R. Berkley by 3.3% in the third quarter. Valeo Financial Advisors LLC now owns 4,788 shares of the insurance provider’s stock worth $367,000 after buying an additional 151 shares during the last quarter. 68.82% of the stock is owned by hedge funds and other institutional investors.

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.