Sumitomo Insurance Co Mitsui Acquires 146,000 Shares of W.R. Berkley (NYSE:WRB) Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui purchased 146,000 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were purchased at an average price of $72.92 per share, with a total value of $10,646,320.00. Following the completion of the purchase, the insider owned 58,668,274 shares in the company, valued at approximately $4,278,090,540.08. This trade represents a 0.25% 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 the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

W.R. Berkley Stock Down 3.0%

WRB opened at $70.44 on Thursday. The firm’s 50 day simple moving average is $69.73 and its two-hundred day simple moving average is $72.24. The company has a market capitalization of $26.38 billion, a PE ratio of 15.83, a PEG ratio of 3.04 and a beta of 0.35. W.R. Berkley Corporation has a 1-year low of $60.68 and a 1-year high of $78.96. 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 (NYSE:WRB) last posted its quarterly earnings data on Monday, January 26th. The insurance provider reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). W.R. Berkley had a net margin of 12.10% and a return on equity of 18.17%. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the previous year, the firm earned $1.13 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities analysts forecast that W.R. Berkley Corporation will post 4.33 EPS for the current year.

W.R. Berkley Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were issued 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 was Monday, February 23rd. W.R. Berkley’s dividend payout ratio is 8.09%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company dropped their price objective on shares of W.R. Berkley from $68.00 to $66.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 27th. Mizuho lowered their price target on shares of W.R. Berkley from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Tuesday, January 27th. The Goldman Sachs Group reissued a “neutral” rating and set a $73.00 price objective on shares of W.R. Berkley in a research note on Wednesday, January 7th. Evercore set a $69.00 price objective on W.R. Berkley and gave the company an “underperform” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of W.R. Berkley in a report on Wednesday, January 21st. Four equities 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’s stock. Based on data from MarketBeat, W.R. Berkley presently has a consensus rating of “Hold” and a consensus target price of $69.67.

Institutional Trading of W.R. Berkley

Institutional investors and hedge funds have recently made changes to their positions in the company. Entrust Financial LLC bought a new position in W.R. Berkley in the fourth quarter worth about $25,000. Compass Financial Services Inc purchased a new position in shares of W.R. Berkley in the 3rd quarter worth approximately $26,000. Hazlett Burt & Watson Inc. raised its stake 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 acquiring an additional 210 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of W.R. Berkley during the 2nd quarter worth approximately $27,000. Finally, DV Equities LLC purchased a new stake in W.R. Berkley during the fourth quarter valued at approximately $29,000. 68.82% of the stock is currently owned by institutional investors.

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.