Sumitomo Insurance Co Mitsui Buys 153,000 Shares of W.R. Berkley (NYSE:WRB) Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui purchased 153,000 shares of W.R. Berkley stock in a transaction on Thursday, February 26th. The stock was bought at an average cost of $71.67 per share, with a total value of $10,965,510.00. Following the completion of the acquisition, the insider owned 58,375,274 shares in the company, valued at approximately $4,183,755,887.58. This trade represents a 0.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

W.R. Berkley Stock Performance

WRB traded up $0.06 on Friday, hitting $71.64. 4,799,462 shares of the stock traded hands, compared to its average volume of 2,394,930. The business has a fifty day moving average price of $69.63 and a two-hundred day moving average price of $72.20. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $27.23 billion, a PE ratio of 16.10, a P/E/G ratio of 3.00 and a beta of 0.37. W.R. Berkley Corporation has a 52 week low of $60.68 and a 52 week high of $78.96.

W.R. Berkley (NYSE:WRB) last announced its quarterly earnings data 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). The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. W.R. Berkley had a return on equity of 18.35% and a net margin of 12.10%.W.R. Berkley’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.13 EPS. On average, research analysts predict that W.R. Berkley Corporation will post 4.33 EPS for the current fiscal year.

W.R. Berkley Announces Dividend

The firm also recently declared 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. The ex-dividend date is Monday, February 23rd. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. W.R. Berkley’s dividend payout ratio (DPR) is currently 8.09%.

Institutional Investors Weigh In On W.R. Berkley

A number of institutional investors and hedge funds have recently made changes to their positions in WRB. Entrust Financial LLC acquired a new stake in W.R. Berkley in the fourth quarter valued at $25,000. Compass Financial Services Inc bought a new stake in shares of W.R. Berkley in the 3rd quarter valued at about $26,000. Hazlett Burt & Watson Inc. increased its stake in shares of W.R. Berkley by 140.0% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 360 shares of the insurance provider’s stock valued at $26,000 after buying an additional 210 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of W.R. Berkley during the second quarter worth about $27,000. Finally, DV Equities LLC acquired a new position in shares of W.R. Berkley in the fourth quarter worth approximately $29,000. Institutional investors own 68.82% of the company’s stock.

Analysts Set New Price Targets

WRB has been the subject of a number of analyst reports. Bank of America decreased their price objective on W.R. Berkley from $69.00 to $66.00 and set a “neutral” rating for the company in a research note on Tuesday, January 27th. Wells Fargo & Company decreased their target price on W.R. Berkley from $68.00 to $66.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 27th. 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 note on Tuesday, January 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $75.00 price objective (down from $76.00) on shares of W.R. Berkley in a research note on Monday, February 2nd. Finally, Morgan Stanley set a $73.00 price objective on shares of W.R. Berkley in a report on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock 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.