Sumitomo Insurance Co Mitsui Buys 234,573 Shares of W.R. Berkley (NYSE:WRB) Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui purchased 234,573 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was purchased at an average price of $70.32 per share, with a total value of $16,495,173.36. Following the purchase, the insider directly owned 49,446,511 shares of the company’s stock, valued at $3,477,078,653.52. The trade was a 0.48% 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 this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

W.R. Berkley Stock Up 0.3%

Shares of NYSE:WRB traded up $0.19 during trading hours on Monday, reaching $70.76. The stock had a trading volume of 1,598,085 shares, compared to its average volume of 2,205,735. W.R. Berkley Corporation has a 1 year low of $55.97 and a 1 year high of $78.96. The firm’s 50 day moving average is $73.15 and its 200-day moving average is $72.55. The stock has a market capitalization of $26.89 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 2.70 and a beta of 0.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.37 and a current ratio of 0.37.

W.R. Berkley (NYSE:WRB) last issued its earnings results on Monday, October 20th. The insurance provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.16 billion. W.R. Berkley had a net margin of 13.01% and a return on equity of 18.86%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 earnings per share. Research analysts predict that W.R. Berkley Corporation will post 4.33 earnings per share for the current fiscal year.

W.R. Berkley Announces Dividend

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 issued a $0.09 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.5%. W.R. Berkley’s dividend payout ratio is presently 7.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on WRB shares. Jefferies Financial Group lowered their price target on W.R. Berkley from $76.00 to $75.00 and set a “hold” rating for the company in a report on Tuesday, October 21st. Mizuho set a $67.00 price objective on shares of W.R. Berkley and gave the stock a “neutral” rating in a research report on Monday, December 15th. Barclays reaffirmed an “underweight” rating and issued a $73.00 target price on shares of W.R. Berkley in a research report on Wednesday, October 8th. Morgan Stanley set a $75.00 price target on shares of W.R. Berkley in a research report on Tuesday, December 16th. Finally, Wells Fargo & Company set a $66.00 price objective on W.R. Berkley and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, W.R. Berkley presently has a consensus rating of “Hold” and a consensus target price of $73.93.

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. Triumph Capital Management purchased a new position in shares of W.R. Berkley during the third quarter worth about $35,000. Hudson Bay Capital Management LP raised its stake in W.R. Berkley by 2.2% during 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 acquiring an additional 3,335 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in W.R. Berkley during the 3rd quarter worth approximately $734,000. Allworth Financial LP grew its stake in shares of 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 purchasing an additional 153 shares during the last quarter. Finally, Groupama Asset Managment acquired a new position in shares of W.R. Berkley in the third quarter valued at approximately $218,000. 68.82% of the stock is owned by hedge funds and other 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.