Sumitomo Insurance Co Mitsui Buys 256,041 Shares of W.R. Berkley (NYSE:WRB) Stock

W.R. Berkley Corporation (NYSE:WRB) major shareholder Sumitomo Insurance Co Mitsui bought 256,041 shares of W.R. Berkley stock in a transaction on Monday, January 12th. The shares were purchased at an average cost of $68.73 per share, for a total transaction of $17,597,697.93. Following the acquisition, the insider owned 52,171,504 shares in the company, valued at $3,585,747,469.92. The trade was a 0.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

W.R. Berkley Stock Up 1.8%

Shares of NYSE:WRB opened at $69.21 on Thursday. The company’s fifty day moving average is $72.12 and its two-hundred day moving average is $72.25. 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 Corporation has a 1-year low of $56.86 and a 1-year high of $78.96. The stock has a market capitalization of $26.30 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 2.52 and a beta of 0.39.

W.R. Berkley (NYSE:WRB) last announced its quarterly earnings data on Monday, October 20th. The insurance provider reported $1.10 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts anticipate that W.R. Berkley Corporation will post 4.33 EPS for the current year.

W.R. Berkley Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were issued a $0.09 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.36 annualized dividend and a dividend yield of 0.5%. W.R. Berkley’s dividend payout ratio (DPR) is 7.56%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WRB. Compass Financial Services Inc acquired a new stake in W.R. Berkley in the third quarter worth approximately $26,000. Hilltop National Bank bought a new stake in shares of W.R. Berkley in the 2nd quarter worth $27,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of W.R. Berkley in the second quarter valued at $27,000. Triumph Capital Management bought a new position in W.R. Berkley during the third quarter valued at about $35,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in W.R. Berkley during the second quarter worth about $34,000. 68.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WRB has been the topic of a number of recent research reports. Evercore ISI set a $69.00 target price on W.R. Berkley and gave the company an “underperform” rating in a research note on Wednesday, January 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $73.00 price objective on shares of W.R. Berkley in a report on Wednesday, January 7th. BMO Capital Markets lowered shares of W.R. Berkley from a “market perform” rating to an “underperform” rating and set a $64.00 target price for the company. in a research note on Wednesday, October 22nd. Barclays restated an “underweight” rating and issued a $64.00 price target (down previously from $73.00) on shares of W.R. Berkley in a research note on Thursday, January 8th. Finally, Wells Fargo & Company set a $68.00 price objective on W.R. Berkley and gave the stock an “equal weight” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, W.R. Berkley has an average rating of “Hold” and an average target price of $73.00.

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.