W.R. Berkley (NYSE:WRB) Major Shareholder Purchases $10,965,510.00 in Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui bought 153,000 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was bought at an average cost of $71.67 per share, with a total value of $10,965,510.00. Following the completion of the purchase, the insider directly owned 58,375,274 shares in the company, valued at approximately $4,183,755,887.58. The trade was a 0.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

W.R. Berkley Trading Up 0.1%

Shares of WRB stock opened at $71.64 on Monday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.29. W.R. Berkley Corporation has a twelve month low of $60.68 and a twelve month high of $78.96. The company’s 50-day moving average price is $69.63 and its 200-day moving average price is $72.22. The stock has a market cap of $27.23 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 3.00 and a beta of 0.35.

W.R. Berkley (NYSE:WRB) last released its quarterly earnings data on Monday, January 26th. The insurance provider reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.01). The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. W.R. Berkley had a return on equity of 18.35% and a net margin of 12.10%.W.R. Berkley’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.13 earnings per share. As a group, equities analysts predict that W.R. Berkley Corporation will post 4.33 earnings per share for the current year.

W.R. Berkley Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Compass Financial Services Inc purchased a new stake in W.R. Berkley during the third quarter worth approximately $26,000. Entrust Financial LLC acquired a new stake in W.R. Berkley during the fourth quarter worth approximately $25,000. Hazlett Burt & Watson Inc. lifted its position in shares of W.R. Berkley by 140.0% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock worth $26,000 after buying an additional 210 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of W.R. Berkley in the 2nd quarter valued at $27,000. Finally, DV Equities LLC purchased a new position in shares of W.R. Berkley in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WRB. Jefferies Financial Group lowered their price objective on W.R. Berkley from $75.00 to $70.00 and set a “hold” rating for the company in a research report on Tuesday, January 27th. The Goldman Sachs Group reiterated a “neutral” rating and set a $73.00 price target on shares of W.R. Berkley in a report on Wednesday, January 7th. Wells Fargo & Company reduced their price objective on shares of W.R. Berkley from $68.00 to $66.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 27th. Truist Financial set a $80.00 target price on shares of W.R. Berkley and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Finally, Morgan Stanley set a $73.00 price target on shares of W.R. Berkley in a research report on Wednesday, January 28th. 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 MarketBeat.com, W.R. Berkley currently has a consensus rating of “Hold” and a consensus target price of $69.67.

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.