W.R. Berkley (NYSE:WRB) Major Shareholder Sumitomo Insurance Co Mitsui Acquires 205,000 Shares

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui bought 205,000 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The stock was purchased at an average cost of $70.77 per share, for a total transaction of $14,507,850.00. Following the transaction, the insider owned 50,091,511 shares in the company, valued at $3,544,976,233.47. The trade was a 0.41% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 Stock Up 0.3%

NYSE:WRB traded up $0.19 during trading hours on Monday, reaching $70.76. 1,598,085 shares of the stock were exchanged, compared to its average volume of 2,205,735. The stock has a market cap of $26.89 billion, a PE ratio of 14.86, a PEG ratio of 2.70 and a beta of 0.37. W.R. Berkley Corporation has a twelve month low of $55.97 and a twelve month high of $78.96. The firm has a 50 day moving average of $73.15 and a 200 day moving average of $72.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.37 and a quick ratio of 0.37.

W.R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Monday, October 20th. The insurance provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. W.R. Berkley had a net margin of 13.01% and a return on equity of 18.86%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the firm posted $0.93 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities 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 will be paid on Monday, December 29th. Stockholders of record on Monday, December 15th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Monday, December 15th. W.R. Berkley’s dividend payout ratio is currently 7.56%.

Hedge Funds Weigh In On W.R. Berkley

Institutional investors and hedge funds have recently modified their holdings of the stock. Triumph Capital Management bought a new position in shares of W.R. Berkley in the third quarter valued at about $35,000. Hudson Bay Capital Management LP grew its stake in W.R. Berkley by 2.2% in the 3rd quarter. Hudson Bay Capital Management LP now owns 153,560 shares of the insurance provider’s stock valued at $11,766,000 after buying an additional 3,335 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in W.R. Berkley in the 3rd quarter valued at about $734,000. Allworth Financial LP raised its holdings in W.R. Berkley by 4.8% in the 3rd quarter. Allworth Financial LP now owns 3,328 shares of the insurance provider’s stock valued at $255,000 after acquiring an additional 153 shares during the period. Finally, Groupama Asset Managment acquired a new stake in W.R. Berkley during the third quarter worth approximately $218,000. 68.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WRB. Wolfe Research initiated coverage on W.R. Berkley in a report on Monday, September 15th. They set a “peer perform” rating on the stock. Jefferies Financial Group lowered their price target on 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. Wells Fargo & Company set a $66.00 price objective on W.R. Berkley and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of W.R. Berkley in a report on Wednesday, October 8th. Finally, BMO Capital Markets cut shares of W.R. Berkley from a “market perform” rating to an “underperform” rating and set a $64.00 price target for the company. in a research note on Wednesday, October 22nd. Three investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $73.93.

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.