W.R. Berkley (NYSE:WRB) Major Shareholder Sumitomo Insurance Co Mitsui Purchases 230,000 Shares

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui acquired 230,000 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was purchased at an average price of $70.27 per share, with a total value of $16,162,100.00. Following the purchase, the insider owned 50,526,511 shares in the company, valued at approximately $3,550,497,927.97. The trade was a 0.46% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

W.R. Berkley Stock Performance

Shares of NYSE WRB traded down $0.76 during midday trading on Friday, reaching $69.36. The company’s stock had a trading volume of 2,113,780 shares, compared to its average volume of 3,641,395. The stock has a market capitalization of $26.36 billion, a P/E ratio of 14.57, a PEG ratio of 2.68 and a beta of 0.39. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a 50 day moving average price of $72.81 and a 200-day moving average price of $72.48. W.R. Berkley Corporation has a 12-month low of $55.97 and a 12-month high of $78.96.

W.R. Berkley (NYSE:WRB) last issued its quarterly earnings results on Monday, October 20th. The insurance provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. W.R. Berkley had a return on equity of 18.86% and a net margin of 13.01%.The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period last year, the business posted $0.93 earnings per share. W.R. Berkley’s revenue was up 10.8% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 15th were 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 was Monday, December 15th. W.R. Berkley’s payout ratio is presently 7.56%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WRB shares. Morgan Stanley set a $75.00 price objective on shares of W.R. Berkley in a report on Tuesday, December 16th. Mizuho set a $67.00 price target on shares of W.R. Berkley and gave the stock a “neutral” rating in a research note on Monday, December 15th. Wells Fargo & Company set a $66.00 price target on shares of W.R. Berkley and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Barclays reissued an “underweight” rating and set a $73.00 price objective on shares of W.R. Berkley in a report on Wednesday, October 8th. Finally, UBS Group restated a “neutral” rating and issued a $87.00 target price on shares of W.R. Berkley in a research note on Friday, November 7th. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.93.

Institutional Investors Weigh In On W.R. Berkley

Several institutional investors have recently made changes to their positions in the stock. Compass Financial Services Inc bought a new stake in shares of W.R. Berkley during the 3rd quarter valued at about $26,000. Hilltop National Bank purchased a new stake in W.R. Berkley in the second quarter valued at approximately $27,000. Twin Peaks Wealth Advisors LLC bought a new stake in W.R. Berkley during the second quarter valued at approximately $27,000. Elevation Point Wealth Partners LLC purchased a new position in W.R. Berkley in the 2nd quarter worth approximately $34,000. Finally, Triumph Capital Management bought a new position in shares of W.R. Berkley in the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 68.82% of the company’s stock.

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.