W.R. Berkley (NYSE:WRB) Major Shareholder Sumitomo Insurance Co Mitsui Acquires 168,868 Shares

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui acquired 168,868 shares of W.R. Berkley stock in a transaction on Wednesday, February 25th. The shares were bought at an average price of $71.42 per share, with a total value of $12,060,552.56. Following the completion of the transaction, the insider directly owned 58,222,274 shares of the company’s stock, valued at $4,158,234,809.08. This trade represents a 0.29% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

W.R. Berkley Price Performance

Shares of NYSE WRB traded down $0.06 during trading on Wednesday, hitting $71.57. The company had a trading volume of 1,641,239 shares, compared to its average volume of 1,957,137. The firm has a market capitalization of $27.20 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 3.00 and a beta of 0.37. The stock has a fifty day simple moving average of $69.54 and a two-hundred day simple moving average of $72.20. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.29. W.R. Berkley Corporation has a fifty-two week low of $60.68 and a fifty-two week high of $78.96.

W.R. Berkley (NYSE:WRB) last released its quarterly earnings results on Monday, January 26th. The insurance provider reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.01). W.R. Berkley had a return on equity of 18.35% and a net margin of 12.10%.The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the company earned $1.13 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research 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 announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, February 23rd. W.R. Berkley’s payout ratio is 8.09%.

Wall Street Analysts Forecast Growth

WRB has been the topic of a number of recent research reports. Barclays restated an “underweight” rating and set a $64.00 price target (down from $73.00) on shares of W.R. Berkley in a research report on Thursday, January 8th. Keefe, Bruyette & Woods upped their price target on W.R. Berkley from $73.00 to $76.00 and gave the company a “market perform” rating in a research report on Tuesday, January 6th. Bank of America lowered their price objective 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. UBS Group set a $71.00 target price on W.R. Berkley in a research note on Monday, February 2nd. Finally, Morgan Stanley set a $73.00 price target on shares of W.R. Berkley in a research report on Wednesday, January 28th. Four research 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 MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $69.67.

Hedge Funds Weigh In On W.R. Berkley

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

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.