Sumitomo Insurance Co Mitsui Acquires 40,000 Shares of W.R. Berkley (NYSE:WRB) Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui purchased 40,000 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was purchased at an average price of $68.64 per share, with a total value of $2,745,600.00. Following the completion of the transaction, the insider owned 56,393,656 shares of the company’s stock, valued at approximately $3,870,860,547.84. This trade represents a 0.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

W.R. Berkley Stock Up 1.6%

WRB opened at $71.28 on Friday. The stock has a market cap of $27.09 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 2.91 and a beta of 0.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.37 and a current ratio of 0.37. The firm’s fifty day moving average is $69.35 and its 200 day moving average is $72.03. W.R. Berkley Corporation has a fifty-two week low of $59.55 and a fifty-two week high of $78.96.

W.R. Berkley (NYSE:WRB) last posted its quarterly earnings results on Monday, January 26th. The insurance provider reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. W.R. Berkley had a net margin of 12.10% and a return on equity of 18.35%. W.R. Berkley’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 earnings per share. On average, sell-side analysts forecast 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 declared a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 15th were paid 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 is presently 8.09%.

Wall Street Analyst Weigh In

Several research firms have recently commented on WRB. TD Cowen downgraded shares of W.R. Berkley from a “buy” rating to a “sell” rating and lowered their target price for the stock from $77.00 to $55.00 in a report on Tuesday, January 20th. Morgan Stanley set a $73.00 price target on shares of W.R. Berkley in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods raised their price objective on W.R. Berkley from $73.00 to $76.00 and gave the company a “market perform” rating in a research report on Tuesday, January 6th. Truist Financial set a $80.00 target price on W.R. Berkley and gave the stock a “buy” rating in a report on Tuesday, January 27th. Finally, UBS Group set a $71.00 price target on W.R. Berkley in a research note on Monday. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, W.R. Berkley presently has an average rating of “Hold” and a consensus price target of $69.67.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Compass Financial Services Inc bought a new stake in W.R. Berkley during the third quarter worth approximately $26,000. Hilltop National Bank purchased a new position in shares of W.R. Berkley in the 2nd quarter worth approximately $27,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of W.R. Berkley during the 2nd quarter valued at approximately $27,000. Elevation Point Wealth Partners LLC purchased a new stake in W.R. Berkley during the 2nd quarter valued at $34,000. Finally, Triumph Capital Management bought a new stake in W.R. Berkley in the third quarter worth $35,000. Institutional investors 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.