Sumitomo Insurance Co Mitsui Purchases 168,868 Shares of W.R. Berkley (NYSE:WRB) Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui bought 168,868 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was purchased at an average cost of $71.42 per share, with a total value of $12,060,552.56. Following the purchase, the insider owned 58,222,274 shares of the company’s stock, valued at $4,158,234,809.08. This represents a 0.29% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

W.R. Berkley Trading Down 0.0%

WRB stock opened at $71.56 on Friday. The company has a market capitalization of $27.19 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 3.00 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. W.R. Berkley Corporation has a one year low of $60.68 and a one year high of $78.96. The company’s 50 day moving average price is $69.58 and its two-hundred day moving average price is $72.19.

W.R. Berkley (NYSE:WRB) last released its earnings results on Monday, January 26th. The insurance provider reported $1.13 EPS for the quarter, missing the consensus estimate 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 for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 EPS. As a group, analysts predict 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 declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors 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 yield of 0.5%. The ex-dividend date is Monday, February 23rd. W.R. Berkley’s dividend payout ratio (DPR) is presently 8.09%.

Hedge Funds Weigh In On W.R. Berkley

A number of institutional investors and hedge funds have recently made changes to their positions in WRB. Pacer Advisors Inc. lifted its holdings in shares of W.R. Berkley by 47.3% during the fourth quarter. Pacer Advisors Inc. now owns 35,525 shares of the insurance provider’s stock valued at $2,491,000 after purchasing an additional 11,400 shares during the last quarter. Dean Capital Management increased its position in W.R. Berkley by 3.2% during the 4th quarter. Dean Capital Management now owns 33,170 shares of the insurance provider’s stock valued at $2,326,000 after buying an additional 1,013 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new position in W.R. Berkley during the fourth quarter valued at $88,000. Hamilton Wealth LLC boosted its holdings in W.R. Berkley by 18.2% in the fourth quarter. Hamilton Wealth LLC now owns 3,890 shares of the insurance provider’s stock worth $273,000 after acquiring an additional 600 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of W.R. Berkley by 0.4% in the fourth quarter. Invesco Ltd. now owns 4,913,337 shares of the insurance provider’s stock worth $344,523,000 after acquiring an additional 20,538 shares during the last quarter. Institutional investors own 68.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Barclays reaffirmed an “underweight” rating and issued a $64.00 target price (down from $73.00) on shares of W.R. Berkley in a research note on Thursday, January 8th. Truist Financial set a $80.00 price objective on shares of W.R. Berkley and gave the company a “buy” rating in a research report on Tuesday, January 27th. Bank of America cut their target price on W.R. Berkley from $69.00 to $66.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 27th. The Goldman Sachs Group reissued a “neutral” rating and set a $73.00 target price on shares of W.R. Berkley in a research note on Wednesday, January 7th. Finally, Jefferies Financial Group dropped their price target on W.R. Berkley from $75.00 to $70.00 and set a “hold” rating for the company in a research note on Tuesday, January 27th. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, W.R. Berkley currently 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.